GFAL Application Process – GSIS Financial Assistance Loan Program

gfal process

The Government Service Insurance System (GSIS) will start to accept applications for the GSIS Financial Assistance Loan (GFAL) program for personnel of the Department of Education (DepEd) starting May 15, 2018. Under the program, GSIS will lend a maximum amount of PhP500,000 to DepEd borrowers to pay the outstanding balance of their loan from accredited private lending institutions. “Instead of offering the GFAL to DepEd personnel in selected cities and municipalities on a pilot run, we decided to open it to all teachers and teaching personnel nationwide because we want…

Deped: 100% Of PLI Service Fee Goes To Provident Fund For Lending To Personnel

provident fund

PASIG CITY, November 25, 2017 – Contrary to claims that the Department of Education (DepEd) allowed private lending institutions (PLIs) to offer loans to its teaching and non-teaching personnel because it receives “commission,” that small fraction actually goes to the Provident Fund from which all DepEd personnel may benefit. The service fee, which amounts to a measly 0.05%, charged for every remittance of the loan payment of a personnel-borrower, through the Automatic Payroll Deduction System (APDS) comes full-circle to benefit all Department personnel. To date, DepEd’s Provident Fund amounts to P4…