Sen. Bong Go encouraged GSIS to provide loan programs to assist its members

On Tuesday, Senator Christopher Lawrence Go well known as Bong Go appeals to the Government Service Insurance System (GSIS) to establish loan and other relief programs with a flexible payment terms. It is to help its members manage the financial and economic fallout of the Covid-19 pandemic.

Photo credit: mindanaodailymirror.ph

Go, chairman of the Senate Health and Demography Committee, asked the GSIS leadership to help the members by adopting loan programs to assist them as the pandemic crippled the economy.  He said,

Nagpapasalamat naman ako na tinugon ng pamunuan ng GSIS ang ating panawagan. [I am thankful to the GSIS leadership for responding to our requests].I am grateful that at the time when our people are still reeling from the adverse impacts of the pandemic, they heeded our call and took extra steps to be of great help to their members,

In response to Sen. Go's call, the GSIS President and General Manager Rolando Macasaet said the agency has sufficient funds to offer loan program to its members. 

Sang-ayon po kami sa panawagan niya — ito ang panahon na dapat tulungan natin ang mga kababayan nating makaahon mula sa paghihirap na dulot ng Covid-19. Kaya, nagpapasalamat din kami kay Senador Go sa patuloy niyang pagiging tulay ng mga ordinaryong Pilipino sa pamahalaan.

[We agree with his call — this is a time when we need to help our countrymen to be able to survive the hardship caused by the Covid-19 pandemic. That is why, we thank Senator Go for acting as a bridge to the ordinary Filipinos.]

Recently, Go encouraged the GSIS to develop a small loans program for its members as well as a tuition loan program to help families pay for school fees, and an e-transition loan program for public school teachers to purchase laptops and other gadgets in aid of the transition to online learning.

That is why the agency developed the GSIS Financial Assistance Loan-Educational Loan program to help its members pay up to 100 percent of their beneficiaries’ tuition and other school expenses.

The beneficiaries must be registered in an undergraduate program of a private or public tertiary institution. The 10-year loan has a five-year grace period, allowing members not to worry about tuition and other school fees while their dependents are still in college.

The GSIS also created GSIS Computer Loan (GCL) program to help members purchase a computer unit for their online learning and work-from-home needs. With an interest rate of 6 percent per annum, members can borrow P30,000 repayable over a term not exceeding 36 months. The GCL will be open to active members with permanent appointments.