SSS Educational Loan Form
In a few months, enrollments for different schools will begin especially in Tertiary Education. The pandemic leaves us with too many financial obligations that must be attended to. You may create to begin your own business and use different tools like receipt template online free. However, the economic situation of the country prevents most of us to start business, find new careers or even part-time jobs. As such, flexible loan opportunities will solve our need to have money for educational purposes.
The SSS Educational Assistance Loan Program (EALP) aims to support SSS member beneficiaries in their educational costs. Only one EALP beneficiary is allowed per borrowing member. Beneficiaries can be the lenders themselves, their child, their legal spouse, or siblings (for single members only). This loan offer had 6% interest per year.
Qualification of SSS Members
- Have a real monthly income of no more than 25,000 pesos a month.
- You have the final SSS monthly salary credit of 15,000 pesos or less.
- pay at least 12 monthly contributions.
- pay a monthly contribution for at least 1 of the last 3 months.
- Do not be delinquent to his or her remaining SSS home loan or salary loan.
Requirements for SSS Educational Loan including form
- Filled out and signed SSS Educational Loan Application Form
- Member-borrower’s SSS ID or 2 valid IDs
- Proof of income can be one of these documents:
- Payslip (original and photocopy) if employed
- Pay envelope (original and photocopy) if employed
- Certification of Income from Employer if employed
- Latest BIR-stamped ITR if self-employed
- Notarized Affidavit of Income
- Assessment or billing statement from the school
- Photocopy of the stamped SSS E1 form of your child, spouse, or sibling (beneficiary must have an SSS no.)
Amount to avail with SSS Educational Loan
Degree Course – A maximum of Php20,000 per semester/trimester/term or full tuition / various tuition fees, depending on the minimum, up to the next Php100 higher.
Vocational / Technical Courses (minimum of 2 years) – Maximum Php10,000 per semester/quarter or a full number of different courses/fees, depending on the minimum, up to the next Php100 higher.
