To provide loan payment relief for its members, the Government Service Insurance System (GSIS) is offering a restructuring program for around 500,000 members who have outstanding balance under the Educational Assistance Loan (EAL). Under the second phase of the program, members may renew their educational loan and obtain a P10,000 gross amount from which the outstanding balance of the first loan will be deducted.
GSIS has earmarked a total of Php6.33 billion for the restructuring facility, dubbed Educational Assistance Loan II, which is open until December 31 this year.
REPUBLIC OF THE PHILIPPINES
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