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SOCIAL SECURITY SYSTEM (SSS) SCHOLARSHIPS NOW AVAILABLE? TO KNOW HOW.. MUST READ!!!

Want to study but don’t have enough money for it? Aside from checking out available grant scholarships, you can also approach the Social Security System (SSS)

There are also ways in order to fund for education even if none of your family members would. You can go and produce funds by striving hard for it, you can search for ways to fund your education, or you can ask the Social Security System (SSS) help for that. Now, there is what we call Educational Assistance Loan Program for workers and beneficiaries to borrow or lend money for enrollment, technical, and vocational courses.

SSS offers the Educational Assistance Loan Program (EALP) for members and their beneficiaries wherein they are allowed to borrow money for educational purposes.

SSS members who have paid at least thirty-six (36) monthly contributions in which three 3 years should be within the last twelve 12 months prior to the date of application for the loan; and
Members whose last posted Monthly Salary Credit (MSC) is
Php 15, 000.00 or below provided that his/her actual basic salary is not more than Php15, 000.00 per month.

The members are not only the ones who can benefit from this program, it also includes their:

Legal Spouse
Child of the member (including illegitimate)
And sibling of unmarried SSS member (including half brother/sister)

How much can I loan if I go through this program?

The amount of loan depends on what type of education you are planning to pursue.

Vocational Course/Technical Course (2 years minimum) – Maximum of Php7,500.00 per semester/trimester or the exact amount of tuition fee + miscellaneous fees, whichever is lower, rounded off to the next higher Php100.00
Degree Course – Maximum of Php15, 000.00 per semester/trimester or the exact amount of tuition fee + miscellaneous fees, whichever is lower, rounded off to the next higher Php100.00
Requirements


Who Is Eligible For The Educational Assistance Loan Program?

SSS members with a monthly earning of P25,000 and below are eligible for the educational loan. Formerly, only those who earned P15,000 and below are permitted to apply for a loan which means more members will be able to take part of this program now. Also, the loan covers a wider scope of tuition and miscellaneous fees.

In order to apply for this program

the member should submit an SSS ID or two (2) valid IDs, a duly accomplished application form, and an assessment/billing statement issued by the school of the member/beneficiary.
For more information about the EALP, you can go check out the SSS website or visit the nearby offices in your area.

After submitting your application, SSS shall release a check payable to the school where the member/beneficiary is enrolled and it will be released to the member/beneficiary. Subsequent loan releases shall be made upon submission of another accomplished application form along with assessment/billing statement from the school. Validation may be done to ensure that the member/beneficiary will continue school.

Education is the best investment you can make to you future, our government came up with ways to support a person’s education here in the Philippines, Remember knowledge is power



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3 comments:

  1. This is really a great post! I would share this post with team members of QandA a platform for students, teachers and other related people to discuss their thoughts and experiences on learning and other topics.

    ReplyDelete
  2. Panu po mag apply. Kailangan lang po asap

    ReplyDelete

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