Enrollment is just around the corner and every parent can relate to the pressure of where to find enough money to get your children enrolled on time. Many will resort to availing loans from friends or financial institutions just to make sure that their beloved kids could make it for the next school year.
Ads
For George Gaquing, he always finds a solution during enrollment season by availing a multi-purpose loan from Home Development Mutual Fund commonly known as Pag-IBIG fund.
"At least 'yon may mapagkukunan kami sa Pag-IBIG, 'yong hulog ko sa Pag-IBIG every 6 months, laging nilalaan 'yon sa enrollment ng mga anak ko," ani Gaquing.
In the Pag-IBIG multi-purpose loan, you can get an equivalent of 80 percent of your total contribution provided that a member has already completed 24 months or 2 years of contributions
For him, it is a great help for the tuition fee of his three children.
"At least 'yon may mapagkukunan kami sa Pag-IBIG, 'yong hulog ko sa Pag-IBIG every 6 months, laging nilalaan 'yon sa enrollment ng mga anak ko," ani Gaquing.
In the Pag-IBIG multi-purpose loan, you can get an equivalent of 80 percent of your total contribution provided that a member has already completed 24 months or 2 years of contributions
As an example, if you already contributed P50,000 within the previous years you can avail 80 percent of which will amount to P40,000.
The loan is renewable and you can avail it again after six months.
You can also avail of the loan not only for tuition fee purposes but also for various use jus like what Khay Gutierrez did. She availed the loan from Pag-IBIG for recreational purposes.Pag-IBIG Fund president at chief executive officer Acmad Moti urged the members to increase their savings rate for them to avail much bigger loans in the future.
You can also avail of the loan not only for tuition fee purposes but also for various use jus like what Khay Gutierrez did. She availed the loan from Pag-IBIG for recreational purposes.Pag-IBIG Fund president at chief executive officer Acmad Moti urged the members to increase their savings rate for them to avail much bigger loans in the future.
Ads
Sponsored Links
Aside from Pag-IBIG Fund, you can also avail of loans for the purpose of using it for tuition fees, emergency funds or even for travels from the Social Security System (SSS) and Government Service Insurance System (GSIS).
SSS gives P16,000 up to P32,000 salary loan. You may need to pay the loan for 1 year and settle half of your loan amount before you can avail of another loan.
SSS gives P16,000 up to P32,000 salary loan. You may need to pay the loan for 1 year and settle half of your loan amount before you can avail of another loan.
GSIS has consolidated loan whereas if the member has already completed 20 months of contributions, they may already avail of a loan equivalent to their 3 months of salary amount.
As years of service in the government increase, same goes with the loanable amount from GSIS. Completion of 25 years of contribution will entitle the worker to loan an equivalent of his/her 14 months salary amount.
©2019 THOUGHTSKOTO
