Loan relief for teachers affected by storms sought - DepEd

Metro Manila, Philippines – The Department of Education (DepEd) has sought the help of private financial institutions to put in place a moratorium on loan payments, especially for those who were affected by recent calamities.

In a letter, Education Secretary Sonny Angara requested a three-month moratorium beginning January 2025, with payments to resume in April.

The request applies to DepEd personnel living in government-declared calamity areas since September.

“I sincerely hope that, in times of need, even the private sector, including the esteemed financial institution, would find reason to extend to them this much-needed help,” Angara was quoted as saying in a press release.

The education chief also asked for a one-month moratorium for payments due in December and be moved to January 2025.

DepEd said it urged the Government Service Insurance System (GSIS) to carry out the same intervention as well.

The agency added it coordinated with the Bangko Sentral ng Pilipinas that loans of all DepEd personnel subject to the moratorium not be classified as non-performing loans.

“Our personnel have consistently served the nation and its people in ensuring that the future of the youth is brighter through the provision of quality education,” said Angara.

NewsWatch Plus correspondent Lance Mejico contributed to this report