By Pearl Gumapos
The GFAL or Government Service Insurance System (GSIS) Financial Assistance Loan is a loan program launched to help pay the tuition and other school fees of student beneficiaries.
“Inilunsad po natin ito, inilunsad ng GSIS para makatulong sa pagbabayad ng tuition at iba pang school fees ng nominated student beneficiaries ng ating active GSIS members.Ito ay may concept na ‘study now, pay later’ kung saan walang babayaran sa first five years habang nag-aaral pa ang student beneficiaries,” GSIS Manager of the NCR Operations Group Noel Alvarez said during the Laging Handa public briefing.
“Babayaran lamang po ito from the sixth to tenth year of the loan,” he said.
Student beneficiaries may avail of up to P100,000 maximum per academic year with an interest of 8% per annum.
Active members, whether permanent or non-permanent, and special members may avail of the GFAL program.
Qualifications include: a total length of service of at least 15 years and has paid the latest three monthly premium contributions for both personal share and government share at the time of the application.
“Dapat din po hindi naka-leave on absence without pay. Walang pending administrative case or criminal charge. And walang past due loans a GSIS maliban sa housing loan. Ang ating mga members, puwede po silang mag-nominate ng hanggang two student beneficiaries,” Alvarez said.
“Sila po dapat ay Filipino citizen or resident of the Philippines. Related to the member borrower up to the third degree of consanguinity or affinity. Enrolled sa undergrad program na may maximum study period na five year,” he added. -rir
