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…

DepEd Finding Ways to Help Teachers in Debt

DepEd Finding Ways to Help Teachers in Debt

MANILA, Philippines — The Department of Education (DepEd) said it is finding viable means to address the growing debt of public school teachers, which has reached a staggering P300 billion as of last year. In a statement yesterday, the agency said it is relentless in its pursuit to protect its employees and their families from financial and legal implications of non-payment of debt. It noted that around 23,000 teachers retired this year without receiving pension due to unpaid debts. Among other solutions, DepEd sees the need to curb the culture…