How to avail GSIS Educational Loan 2022

Are you an active member of Government Service Insurance System (GSIS)? Do you want to finance your child/children with their study but can't afford as of moment due to the pandemic? You may now secure their future through the GSIS Educational Loan! The good thing is you can apply a maximum of two from your children or relatives and be a student beneficiaries! If you want to know how, then you must proceed to the end of this article because we will share with you all the information you will need on the process.

What is GSIS Educational Loan?

GSIS Educational Loan is a new STUDY NOW, PAY LATER program for the children or relatives of active GSIS members who are currently pursuing a college degree. The eligible borrower can apply for a maximum of P500,000.

Who can avail of GSIS Educational Loan?

Active members who meet the criteria below may take advantage of the program.

1. At least 15 years length of service
2. Has paid the latest three (3) monthly premium contributions for both Personal Share and Government Share at the time of application;
3. Is not on leave of absence without pay at the time of application;
4. Has no pending administrative and/or criminal case at the time of application;
5. Has no past due GSIS loan/s, including housing loan;
6. Agency status is not “suspended”; and
7. Has met the net take home pay (NTHP) requirement required under the General Appropriations Act.

Who are the qualified student-beneficiaries?

Qualified borrowers may nominate up to two (2) student-beneficiaries.

1. Must be a Filipino citizen and resident of the Philippines;
2. Must be related to the borrower up to the 3rd degree of consanguinity or affinity
3. Must be enrolled in an undergraduate course with maximum study period of five (5) years; and
4. Must agree to act as Co-Maker on the loan upon reaching the legal age and in doing so, binds him/herself to the terms and conditions of the loan

LOANABLE AMOUNT:

The maximum loanable amount is ₱100, 000.00 for each School Year or a maximum of ₱500, 000.00 for a five-year college degree.

PAYMENT TERMS:

The loan term is 10 years, with a maximum grace period of five (5) years. This means loan repayment period shall only begin on the sixth (6th) year of the loan. The interest rate is 8% per annum.

What are the necessary documentary requirements?

1. Application Form (Annex A) properly filled out by borrower and co-maker (if applicable) and duly endorse by the Authorized Agency Office (AAO).
2. Photocopy of the latest Tuition Assessment Form (Original to be presented).
3. Photocopy of School ID (front and back) with 3 signatures of the student affixed on the same page. In case the school ID is not available, any valid IDs showing the date of birth, picture and signature of the student.

The same requirements shall apply in case there’s a 2nd student beneficiary, which shall be considered as a separated loan application of the borrower under this program.

STEP BY STEP PROCEDURE ON HOW TO APPLY

1. Via eGSISMO
   1. Login to your eGSISMO account (BP number and PW)
   2. Click Loans Application icon and choose (GFAL-EL), Loan Type (New or Renewal).
   3. Upload a Picture of Member holding UMID / Temporary CARD or 2 Valid Government IDs if UMID / Temporary CARD is lost (as JPEG or PDF File); Photocopy of the latest tuition assessment form ; and photocopy of school ID (front and back) with 3 signatures of the student-beneficiary on the same page
   4. Confirm Loan Agreement and click SAVE
   5. Await email confirmation from GSIS for tentative loan computation and loan counselling session via video conference
   6. Submit original copy of documents previously submitted through eGSISMO
2. Via Email
   1. Fill out the Educational Loan Application Form and GSIS UMID Card
   2. Save the Application Form as JPEG or PDF File and scan the UMID Card
   3. Email the following documents to your GSIS handling branch (link list here)
      • Accomplished/ endorsed application form for GFAL-Educational Loan
      • Photocopy of the latest tuition assessment form
      • Photocopy of school ID (front and back) with 3 signatures of the student-beneficiary on the same page
   4. Await for email confirmation from GSIS for tentative loan computation and loan counselling session via video conference
   5. Submit original copy of documents previously submitted through email
3. Via Dropbox
   1. Fill out the Educational Loan Application Form and GSIS UMID Card
   2. Print the Application Form, photocopy your UMID Card, original copy of the latest tuition assessment form, and photocopy of school ID (front and back) with 3 signature of student-beneficiary on the same page
   3. Secure the documents in a brown envelope and properly label it with the following information:
      NAME
      TYPE OF LOAN
      GSIS HANDLING BRANCH
   4. Drop off the envelope in the GSIS Handling Branch’s DROP BOX
   5. Await email confirmation from GSIS for tentative loan computation and loan counselling session via video conference

Source: Government Service Insurance System (GSIS)