Social Security System now offers more relaxed eligibility requirements and bigger loans under the SSS Educational Assistance Loan Program for college and technical and vocational courses.
SSS Educ-Assist Loan application eases some of its eligibility terms to further expand the financial assistance for education of its members. Some of the relaxed terms were as follows:
- Members with monthly income of P25,000 and below now qualified; limit formerly at P15,000 and below
- Loanable amount of up to P20,000 per semester for degree courses and P10,000 for voc-tech; previously at P15,000 and 7,500, respectively.
- Minimum requirement of 12 posted contributions with at least one in last three months; previously at 36 months.
SSS Educ-Assist Loan application requirements
- Accomplished application form. Download here.
- SSS ID or two valid IDs
- Assessment/Billing statement issued the school of member/beneficiary
- Legal Spouse
- Child of SSS member (incl illegitimate)
- Sibling of unmarried SSS member
The college must be accredited by the CHED while the voc-tech course must be at least a two-year program recognized by the TESDA.
For more information regarding the SSS Educational Assistance Loan Program including loan repayment and other application info, please check the brochure here or visit SSS website or offices. Please share.