SSS Educational Loan — Up to 20K Per Sem

 

Update December 17, 2013:  

Sad to say, effective last December 4,  hindi na tumatanggap ang SSS ng Initial Application for Educational Loan.  Bakit? Kasi nai-allocate na lahat ng pondo for about 59,600 students who have already received their first loans.  Existing funds will be used to finance the subsequent loan applications of these students.

In short, naubos na ang 7-billion-peso fund for the Educational Loan Program. Nai-budget na lahat. Nai-allocate na lahat.  No more Initial Educational Loan applications will be accepted.  Only Subsequent Educational Loan applications will be processed. SSS says that the Educational Loan program will re-open once the first borrowers begin paying their loans.  Or siguro, kung merong new budget allocation.  

 

Update April 14, 2013 —  SSS has increased the maximum loan amount to 20,000 pesos per semester and has improved the rules!

Last February 13, 2013, my friend received from the postman her first SSS educational loan check, after filing her loan application on February 1 at an SSS branch. The next day after filing, she saw on her online SSS account that her loan check was already generated. Just 12 days later, on February 13, she got from the postman her registered mail that contained her SSS loan check

For her second SSS educational loan application, in July, amazingly, it took again only 12 days from date of application to her receipt of her loan check!  Wow!  Applause to the SSS Alabang branch! sss-loan-check

You can apply for this newly launched SSS Educational Loan program too.

 

 

It can be for your child already in college or in vocational school, or your child who is entering college this next school year. It can also be used by you yourself or your spouse. If you’re single, you can apply for your sibling or half-sibling.

Requirements:

1. Your actual monthly salary is not more than than 25,000 pesos per month.

2. Your last SSS monthly salary credit is 15,000 pesos or lower.

3. You have paid at least 12 monthly contributions.

4. You have paid the monthly contribution for at least 1 of the past 3 months.

5. You are not delinquent in your SSS housing loan or salary loan.

Documents to Submit:

1. Filled-up and signed application form. Note: There is a portion in the loan application form which the school needs to fill up and sign.

2. Your SSS ID or 2 valid IDs

3. Xerox copy of your SSS ID or 2 valid IDs

4. Assessment or billing statement from the school

5. Xerox copy of the stamped SSS E1 form of your child, spouse or sibling. (Your child or sibling needs to get his/her own SSS no.)

6. Your proof that your actual monthly income is not more than 25,000 pesos: Can be one of these documents:

- Pay Slip (original and xerox), if employed

- Pay envelope (original and xerox), if employed

- Certification of Income from Employer, if employed

- Latest BIR-stamped ITR, if self-employed

- Your notarized Affidavit of Income, stating that your actual monthly salary is not more than 25,000 pesos, if self-employed or voluntary

How much can you borrow?

For college students — up to 20,000 pesos per sem

For vocational students — up to 10,000 pesos per sem

The loan amount will depend on the actual total school fees that you will pay, up to 20k  for college students, and up to 10k for vocational students.

Example:  If your beneficiary is a college student, and his school fee total this sem is 18,000 pesos, your loan amount will be 18,000 pesos. If his school fee total is 35,000 pesos, your loan amount is 20,000 pesos.

Other Notes:

1. The loan check will be payable to the school, but delivered to you via registered mail.

2. You’ll pay your loan in installments starting after 18 months from date of release of last loan check. Payment term is up to 5 years for college students, and up to 3 years for vocational students.

3. Interest rate is 6%, imposed only on half of the total loan amount.

4. Your school must be CHED-accredited or TESDA-accredited.

5. For the next semester, you need to file another loan application, using another form titled Application for Subsequent Release of Educational Assistance Loan.

6. If you are Married, you are entitled to apply for two beneficiaries. If you are Unmarried, you are entitled to apply for only 1 beneciary. Once your application is approved for yourself or your beneficiary, you can no longer substitute another beneficiary.

7. If your spouse is also an SSS member and he/she is also qualified for this loan, you can apply for 2 beneficiaries each so that you can support a total of 4 beneficiaries, for example, your 4 children.

177 Comments

Add a Comment
  1. kelan po kaya mag re re-open ang sss educational assistance. Nagfile po kase ako November last year for educational loan sa cubao branch kaya lang dami pang hinihingi requirements. Then i asked them kung wala bang deadline ang submission ng application sabi nila wala daw. then i completed all the requirements January this year and filed to sss Pasig branch. Unfortunately closed na daw. after 10 years, I planned to pursue my studies kase umasa ako na may pang support ako sa studies ko thru sss educational kaya lang biglang nag close, though they accepted it but still pending pa din kase wala na pala budget. Magpa final exam na ko and yet i dont know kung san ako kukuha ng pang tuition ko.

    Sana po mag re-open na soon…. gusto ko na po kaseng makapagtapos ng pag-aaral. Maraming salamat po at sana po matugunan nyo ang aking kahilingan.

  2. Hi Lorena, I’m sad to know that you’re late in filing your educational loan. Sayang nakaumpisa ka sana last year. Kasi yong mga nakaumpisa before naubos ang funds ay puede pang mag-loan until they finish schooling. Nasa waiting list ka. Kung merong mga hindi magpapatuloy sa mga na-approve na applicants, maaaring makakuha ka ng slot. Wala ba ang course mo sa EARIST Sta Mesa kasi medyo afffordable ang tuition doon? Or TUP Manila or RTU Boni at Pasig?

  3. Hi mam..I just want to ask if i could still continue to avail the subsequent release of Education Loan of my brother if I married before he graduate??He is still in his first year.. I am not sure if I can wait for him until he graduate..

  4. Hi Luciel, I think that’s a situation that SSS did not fully anticipate. Parang “oo nga pala ano, paano kaya yong ganyan?”. Ako rin, sori at hindi ko masagot with a definite answer. Basta ang rule nila is puede ang kapatid kapag single ang member. One option is to delay updating your civil status and surname with SSS. I don’t know if there’s a rule to immediately update one’s civil status with SSS. Di ba marami ring hindi nag-a-update ng kanilang civil status and surname immediately to facilitate their maternity benefit claims? Magkakaroon lang ng conflict if you file for maternity benefit and your child’s birth cert shows you are married. If you have time, ask an SSS officer.

  5. Good morning, ask ko lang, what if mag stop yung student having an educational loan then, he decided to pursue his studies, mga ilang months pwede syang mag-stop??thanks!

  6. Hi Jelson, sorry wala akong rule na nabasa specific to your question, pero sa new circular nila about change of borrower for the same beneficiary (sa case na magre-retire ang original borrower), sinabi nila doon na kapag na-observe nila na walang subsequent loan for a certain beneficiary, babawiin na nila yong allocation at ibigay sa unang nakalista sa waiting list of new borrowers. At very long waiting list na ito. So blessed ka na nakahabol ka pa. Pero go to SSS and ask, para sure.

  7. kailan po ulit magrereleased ng memo ang sss educatonal loan para sa nga bagong applicants ngayon 2014

  8. Hi Grace, inannounce ng SSS last Nov 2013 na waiting list muna ang mga new first-time educational loan applicants, kasi na-allocate na lahat ang pondo para sa 4-year or 5-year na pag-aaral ng mga naunang nearly 60k applicants. If you like, mag-file ka pa rin ng application mo anytime na meron ka nang docs para mailagay ka na sa waiting list. Pero sa haba ng waiting list, baka next year/s na maka-loan, unless merong new funding. Nagkakaroon din ng slot kapag merong mag-stop-schooling sa mga naunang borrowers.

  9. Hi,Goodpm po!Ask ko lang po kung pwede mag educational loan ang self employed/voluntary? Please reply. Thanks!

  10. Hi Juls, yes, basta meron kang Date of Coverage, you have paid at least 12 contributions, with at least one payment for the past 3 months. Pero sad to say, ang mga new applicants ay ilalagay sa long waiting list. Naubos na kasi ang pondo; may pondo pa naman, pero naka-allocate na sa up to 4th/5th year tuition fees ng mga unang applicants na na-approve.

  11. i was disappointed po last time nang pumunta ako ng sss , at nag tanong po ako kung pdi po bang gamitin ko yung educ loan ng papa ko para sa akin. I was hoping pa naman po sana na makaka balik na ako ng school for his sem, Totoo po ba na existing loaners na alang po yung pding mag loan hindi na po first loaners.?

  12. Hi iris, yes, sad to say, tama yong sinabi sa yo na ubos na yong 7-billion-peso funding (hindi naman actually naubos, kundi nai-budget na lahat ng pera para sa 1st year to 4th or 5th year tuition fees ng mga naunang applicants. What I know is you can file your loan application and request the SSS officer to put it on their waiting list (which has become a very long list, and unsure when the list can start to get reduced, so hindi puedeng asahan).

  13. Hello maam isa nlan po prolem ko s papaers ng anak ko for subsequent loan..kasi po wla po ako g income nabasa kopo s mga voluntary memeber pde yong affidavit of income pano po yon ? Nkasaad po s affidavit of income yon mothly income wla po akong income pano po pde kong gawin..ano po ibang option pra msubmit ko na papers ng anak ko salamat po..

  14. Hi Lenlen, siguro kahit wala kang formal income, meron kang ginagawa to have money. Kahit binibigyan ka lang. Anong ginagawa mo? Siempre meron ka namang source of money. Yon na lang ang parang work mo kapalit ng money, so yon ang income mo.

  15. Hi Ms. Nors may tanung po ako ppno po kung retired kana sa work like sa ofw pero natapos mo na 20 years maximum amount ng contribution mkakaavail ka po ba magloan sa educational ng anak mo sa kolehiyo..pero may business ka nman po na maliit kumikita din around 25k like tindahan..Thanks po

  16. Hi Maritess, sorry, if you’re already a pensioner, you can no longer apply for educational salary loan, or any other loans. Besides this, by the time you’re 60, I hope you’re child has already graduated from college. If you like, save with MP2 or Flexi-Fund so you can save for your child’s college tuition

  17. Hello. I’d like to avail of the educational loan. My salary is a little more than the 25k salary bracket. However my husband does not have fixed income, earns below 25k per month, and is not an active sss member. I have 4 kids and 3 of them are now in college. Is the salary requirement gross? Kasi po we still have deductions such as wtax, contributions, etc. Hope to receive your reply soon.

  18. Hi Mars, I think it would be better if it’s your husband who will apply even if he’s not active since the requirement is only 12 contributions with 1 contribution paid within the last 3 months prior to application, and because your monthly income is more than 25k. Unfortunately, the educational loan program is currently suspended — there are no more funds for new applicants. There’s a long list of applicants waiting for slots that will arise if some approved borrowers discontinue using their allotments.

  19. hi nora. thank you for your prompt response. one more question, please. i have a daugher who stopped schooling a couple of years ago to work but she’s now back to school. if she has at least 12 contributions from her previous work and we would update her sss account starting this month, would she be able to file for the loan? the application is intended in case she will be given a slot in the succeeding releases. thanks again!

  20. Hi karen, submit your Subsequent Loan papers 1 or 2 months before the last day of payment to give time for SSS processing and check delivery.

  21. Hi mars, yes, she can apply. But one of the documents required is a cert or affidavit of her monthly income, which should be less than 25k. Some SSS branches accept first-time applicants (for waiting list) and some tell them to wait and apply when there are additional funds.

  22. Hi Nora, paano po kung stale na yung check, and since di ko siya narecieve for the last 7 months. Magagamit ko pa rin ba yung check, or pwede pa kaya ako magapply after?

  23. Hi Jethro, are you referring to an SSS educational loan check? If yes, you should have been able to receive your check within 2 to 3 weeks of check generation. Does your online SSS account say the check was already generated? If already generated, track your check with your local post office. The most recent SSS educational loan check that I saw has a validity of only 3 months. You can request SSS for check reissuance if later on you get the stale check.

  24. Thank you Nora, its already generated and I haven’t checked the post office yet, and the check is already stale. So if ever i got the check, will SSS be still able to reissue it and can I use the reissued check for the semester that the checked should be used for? Thank you so much for replying on my questions, youve been very helpful.

  25. Hi Jethro, yes, if that check was for last sem, then use that for last sem, assuming that you haven’t paid your last sem’s tuition. Or if you’ve already paid your tuition last sem, then you can use it for this current sem, and then apply for another educational loan for this sem (to be used also for this sem, if there’s still a balance, plus advance for the next sem).

  26. Ma’am I just want to ask, what if I already filed my Educational Loan last month of June, and I started to go to school using my personal money while waiting to have a slot, do they still shoulder my first payment as reimbursement for my expenses?

    Thanks

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Working Pinoy © 2008-2014 Frontier Theme