Health and education are vital for an individual’s well-being, but many, especially those living in poverty, continue to struggle with the cost of medical care and schooling.
According to the Philippine Statistics Authority (PSA), through the Philippine Institute for Development Studies (PIDS), approximately 16.7 million Filipinos live below the poverty line, making education a luxury due to high tuition and miscellaneous fees. Meanwhile, elderly, rural, and low-income individuals frequently pay out-of-pocket healthcare costs despite being covered by the Philippine Health Insurance Corporation (PhilHealth).
However, there are government programs that help alleviate the financial burden of the public regarding tuition fees and health care expenses, such as the Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno (Pag-IBIG) Funds’ Health and Education Loan Programs (HELPs).
Program overview
The Pag-IBIG Fund launched the HELPs in May 2024. This affordable cash loan program aims to assist Pag-IBIG members in covering education and health-related expenses for themselves or their beneficiaries, and the funds are directly credited to accredited schools and hospitals.
“Qualified members can borrow up to 80 percent of their total savings, which includes their monthly contributions, employer’s contributions, and accumulated dividends,” said Jonah Grace Oxiles, head of the Marketing and Sales Division of Pag-IBIG Fund Dagupan branch.
Moreover, the program comes with an interest rate of 10.5 percent per year and does not charge processing fees, ensuring that it fully addresses the financial needs of its members.
How to qualify
To apply for the program, an individual must:
• Be an active Pag-IBIG member with at least one monthly contribution within the last six months
• Have at least 24 monthly contributions under the Pag-IBIG Regular savings program
• Maintain all Pag-IBIG loans account in good standing
• Obtain a loan from Pag-IBIG Fund HELPs partner schools and/or hospitals.
• Provide proof of income
“As of now, we do not have any partner hospitals in Dagupan City, Pangasinan, but we have Systems Technology Institute (STI) College as a partner school where individuals in need can avail of this program,” said Oxiles.
“If you have a beneficiary studying in STI and you avail of a loan under the HELPs program, you will receive a 20 percent discount,” she added, encouraging those who study at STI to avail of the program.
How to apply
According to Oxiles, to apply for the HELPs program, an individual must provide the following at the nearest Pag-IBIG Fund branch:
• An application for HELPs, which can be downloaded from the website www.pagibigfund.gov.ph
• A statement of account detailing the tuition fee or the hospital bill with the due date
• Valid Identification (ID) card for both the member and the beneficiary (For STI students, the member must present a valid ID as proof of their status as a bonafide student)
• A disbursement card
The Dagupan branch is located at the 2nd floor of BHF Family Plaza at Mayombo Road. The Urdaneta branch is at the 3rd floor of CB Mall along MacArthur Highway.
How to pay
A borrower can make payments through installments of 6, 12, 24, and 36 months.
Employed members can repay the loan through a salary deduction arrangement with their employer, at the nearest Pag-IBIG Fund branch, or through any of the accredited collecting partners’ outlets or their online payment channels.
Despite the financial struggle faced by those living in poverty, government programs and initiatives such as Pag-IBIG Fund’s HELPs ensure the public still has access to education and healthcare, empowering them to achieve their personal and professional aspirations. (MJTAB/JCDR/KCC/PIA Pangasinan)
