GENERAL SANTOS CITY (PIA) — The Social Security System (SSS) has reiterated its commitment to aiding Filipino families in pursuing college education through its Educational Assistance Loan Program (EALP).
The EALP, which offers long-term, flexible repayment options and inclusive eligibility criteria for its members, is part of the SSS’ broader social protection services designed to bridge educational gaps and alleviate financial burdens faced by Filipino families.
In the latest episode of the “i-INFORM Mo” radio program hosted by PIA SarGen, SSS Mindanao South II Division communications officer Noel Nacion explained how the program is specifically designed to support college students—including the children of members, siblings of unmarried members, legal spouses, and even self-supporting students.
He stated that members may use the loan to support immediate family members, such as a child, spouse, or sibling attending college, provided the member is single.
“Kung may asawa na si member, hindi niya pwedeng paaralin yung kapatid niya… may ibang obligation na kasi. Dapat single siya,” he explained.
(If the member is already married, they cannot support their sibling’s education; there are other obligations in place. He should be single in order to qualify.)
One of the most significant features of the loan, Nacion pointed out, is the delayed payment term, which gives families ample time to prepare for repayment at an annual interest rate of 6 percent.
The payment will be made 18 months after graduation, allowing graduates to secure employment before facing financial obligations if they choose to participate in the repayment process, Nacion said.
Members can borrow up to P20,000 per semester, based on the school’s statement of account, as SSS will pay the school directly.
“Kung lampas naman sa P20,000, hanggang doon lang talaga tayo. Kung 11, 12, or 13 thousand lang ang sem (semester), eh hindi pwedeng umutang ng 20 thousand kasi ‘yung SOA ng school is hanggang doon lang,” he clarified.
(The loan limit is only P20,000. That is the maximum. But, you cannot borrow $20,000 if the semester costs only $11,000, $12,000, or $13,000, since the school’s statement of account is only that much.)
The loan is also available to self-supporting individuals, including working students and active SSS members, who wish to pursue college studies.
To qualify, the SSS member’s monthly contributions must be current and free of any outstanding balances from prior loans. Additionally, the student must be an SSS member who submits a completed application form along with a Statement of Account endorsed by the educational institution.
Nacion urged qualified members to maximize the program, particularly those with children or dependents pursuing higher education in local colleges and universities. (SRMP, PIA SarGen)
