Solon wants special loan window for school teachers in SSS, GSIS
PUBLIC and private school teachers may soon be granted a special loan window in the Government Service Insurance System (GSIS) and Social Security System (SSS) that would cater to their loan applications once a bill filed in the House of Representatives is enacted into law.
Rep. Winston Castelo (2nd District, Quezon City) filed House Bills 6624 and 6625 extending assistance to teachers of either private or public schools to expedite the processing of their loans with a special loan window dedicated specially for them.
The bill to be known as the “Private School Teachers Special Loan Window Act of 2012” and “Public School Teachers Special Loan Window Act of 2012,” will entitle every bonafide member of the SSS and GSIS the right to avail and apply for a loan or financial assistance under the Special Loan Window as may be granted for every private and public school teacher by the systems at interest rate of repayment lower than the prevailing interest rate.
“Unlike any other profession, teaching is perhaps the type that calls for the need that teachers become the role models themselves,” Castelo said.
Castelo said teachers both in private and public should be empowered to lead simple but decent lives free from the dangers or risks of having to borrow money or financial resources from “loan sharks” who now have run a profitable cottage industry catering to the rather sad socio-economic plight of a sizeable population in the teaching profession.
“It is the intent of the measure to help the teacher sector cope with hard times given certain hardships that they are prone to finding themselves in. In other words, their improved salaries and allowances have not truly reached a desired point where there will be no need for them to look for sources of funds through loans or lending schemes that result, most often, in them being badly victimized by loan sharks,” Castelo said.
Under the measures, any other form of financial assistance that could be availed of, particularly an emergency loan, should be deemed different and separate from this special loan window.