Briones Answers Issues on Teachers’ Debts | DepEd Press Release

Briones noted that the issue of teachers’ debts is a decades-old drama starring the teachers as borrowers, the Government Service Insurance System (GSIS) and private lending institutions (PLIs) as lenders, and the DepEd, which deducts loan payments authorized by teachers to be paid to GSIS and PLIs. She further noted that of these four actors, the teacher/borrower who spends the borrowed money, and the GSIS and PLIs who earn interest benefit from the borrowing activity, DepEd benefits the least. It merely deducts loan payments on the basis of authorizations issued…