Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program
The SSS Circular No. 004-13, issued on April 12, 2013, outlines amendments to the SSS Educational Assistance Loan Program (Educ-Assist). Key changes include lowering the required monthly contributions from 36 to 12, with at least one contribution in the last three months for loan eligibility. Additionally, the maximum loan amounts have increased to Php20,000 for degree courses and Php10,000 for vocational/technical courses per semester or trimester. Members can now avail loans for themselves or up to two beneficiaries, but substitutions of beneficiaries are not permitted. The check for the loan will be payable to the school and released to the member or beneficiary.
Quick Answers
- What is Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program about?
- The SSS Circular No. 004-13, issued on April 12, 2013, outlines amendments to the SSS Educational Assistance Loan Program (Educ-Assist). Key changes include lowering the required monthly contributions from 36 to 12, with at least one contribution in the last three months for loan eligibility. Additionally, the maximum loan amounts have increased to Php20,000 for degree courses and Php10,000 for vocational/technical courses per semester or trimester. Members can now avail loans for themselves or up to two beneficiaries, but substitutions of beneficiaries are not permitted. The check for the loan will be payable to the school and released to the member or beneficiary.
- What type of law is SSS Circular No. 004-13?
- Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program (SSS Circular No. 004-13) is a Philippine Other Rules and Procedures enacted by the Congress of the Philippines.
- When was Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program enacted?
- Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program (SSS Circular No. 004-13) was enacted on Apr 12, 2013.
- What is the citation for Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program?
- Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program, SSS Circular No. 004-13, Apr 12, 2013 (Philippines)
Law Information
- Reference Number
- SSS Circular No. 004-13
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Social Security Commission
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
April 12, 2013
SSS CIRCULAR NO. 004-13
| TO | : | All SSS Members |
| SUBJECT | : | Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program |
Pursuant to Social Security Commission Resolution No. 258, s. 2013 dated 05 April 2013, the following amendments to the terms and conditions of the SSS Educational Assistance Loan Program (Educ-Assist) are hereby issued:
| A. | Eligibility Requirements | |||
| Particulars | From | To | ||
| 1. | Required Number of | At least thirty-six (36) | At least twelve (12) posted | |
| Contributions | monthly contributions, | monthly contributions with | ||
| three (3) of which should | at least one (1) contribution | |||
| be within the last twelve | within the last three (3) | |||
| (12) months prior to the | months prior to date of | |||
| date of application for | application for loan. If | |||
| loan | without one (1) contribution | |||
| for the last three (3) months, | ||||
| member shall pay and | ||||
| present proof of payment. | ||||
| 2. | Required Monthly Salary | Members whose last | Member-borrower whose | |
| Credit (MSC) | posted MSC is | last posted MSC is | ||
| Php15,000 or below | Php15,000 or below | |||
| provided that his actual | provided that his/her actual | |||
| basic salary is not more | basic salary is not more | |||
| than Php15,000 per | than Php25,000 per month | |||
| month | ||||
| Member-borrower who falls | ||||
| under the MSC of Php15,000 | ||||
| or has an actual monthly basic | ||||
| salary of not more than | ||||
| Php25,000, must present proof | ||||
| of actual monthly salary/income | ||||
| of not more than Php25,000: | ||||
| - | pay slip or pay | |||
| envelope or | ||||
| employer's | ||||
| certification, if | ||||
| employed; or | ||||
| - | latest Income Tax | |||
| Return (received by | ||||
| the BIR) or affidavit of | ||||
| income, if self- | ||||
| employed/voluntary | ||||
| paying | ||||
| If the member-borrower | ||||
| cannot show proof of basic | ||||
| monthly salary/income of not | ||||
| more than Php25,000 only, | ||||
| his application for the | ||||
| Program shall be rejected. | ||||
| B. | Amount of Loan | |||
| Particulars | From | To | ||
| 1. | Degree Course | Maximum of Php15,000 | Maximum of Php20,000 per | |
| per semester/trimester or | semester/trimester or actual | |||
| actual tuition/miscellaneous | tuition/miscellaneous fees, | |||
| fees, whichever is lower; | whichever is lower; rounded | |||
| rounded off to the next | off to the next higher | |||
| higher Php100. | Php100. | |||
| 2. | Vocational/Technical | Maximum of Php7,500 | Maximum of Php10,000 per | |
| Course | per semester/trimester or | semester/trimester or actual | ||
| actual amount of the | amount of tuition/ | |||
| tuition/miscellaneous | miscellaneous fees, | |||
| fees, whichever is lower, | whichever is lower, rounded | |||
| rounded off the next | off to the next higher | |||
| higher Php100. | Php100. | |||
| 3. | Number of Availments | A member-borrower shall | A member-borrower shall be | |
| be allowed to avail only | allowed to avail only once to | |||
| once to defray | defray educational | |||
| educational expenses. | expenses. However, | |||
| No substitution of | married members are | |||
| beneficiary shall be | allowed to avail up to two (2) | |||
| allowed. | beneficiaries who shall be | |||
| any of the following: | ||||
| • | member himself/herself | |||
| • | his/her spouse | |||
| • | his/her children | |||
| (legitimate or illegitimate) | ||||
| No substitution of beneficiary | ||||
| shall be allowed. | ||||
| C. | Release of Check | |||
| From | To | |||
| The check shall be payable to | The check shall be payable to | |||
| school and shall be released to | school and shall be released to | |||
| the member/beneficiary. | the member/beneficiary. | |||
| Acknowledgment Receipt of | ||||
| Application Form should be | ||||
| recognized by the school which shall | ||||
| serve as proof of loan availment by | ||||
| member. |
All other terms and conditions of the said Program not inconsistent with this Circular shall continue to be implemented.
Please be guided accordingly.
(SGD.) EMILIO S. DE QUIROS, JR.President and CEO
Cite This Law
Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program, SSS Circular No. 004-13, Apr 12, 2013 (Philippines)
Amendments to the Terms and Conditions of the SSS Educational Assistance Loan Program, SSS Circular No. 004-13 (Phil. 2013)
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