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Where You Can Borrow Money for Tuition & Computers, According to DOF

Finance Secretary Carlos Dominguez III announces two options.
IMAGE Creative Commons SSS by Patrickroque01 licensed under CC BY 4.0

The Government Service Insurance System (GSIS) and Social Security System (SSS) are set to provide assistance to students who will transition into distance learning amid the coronavirus pandemic.

In a recent virtual presser, Finance Secretary Carlos Dominguez III confirmed that "next month, GSIS will introduce a new P30,000 computer loan program to its active members to help them purchase a laptop or desktop in light of the new normal of holding distance or online classes."

The loan, according to Dominguez, will be payable in three years at six-percent interest.

On the other hand, the SSS is slated to offer its members an education loan program in September "to help pay tuition and other school fees for their nominated student beneficiaries."

This option, which has a P100,000 cap, can be paid after five years from the initial loan takeout.

Physical classes will only be possible once a vaccine against COVID-19 becomes available, according to the Department of Education. Still, the opening of school year 2020-21 has been scheduled for August 24.

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This story originally appeared on reportr.world.

* Minor edits have been made by the Candymag.com editors.

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