DepEd asks for moratorium on teachers’ loans

The Department of Education (DepEd) has asked private financial institutions for a moratorium on loan repayments of public school teachers and non-teaching personnel who were affected by the recent typhoons.

“I sincerely hope that in times of need, even the private sector, including the esteemed financial institutions, would find reason to extend this much-needed help,” Education Secretary Sonny Angara said in a letter to the financial institutions.

Angara relayed specifically the request for a moratorium on the affected DepEd employees’ loan payments for three months beginning January 2025 to resume in April 2025.

The request was for bona fide DepEd personnel residing in the calamity areas as declared by government agencies such as the Office of the President, local government units, and Office of Civil Defense beginning September 2024.

Meanwhile, Angara also asked that all DepEd personnel be given a moratorium on their loan payments for December 2024, with payments to resume in January 2025.

He also asked the Government Service Insurance System to provide the same intervention and terms to DepEd staff.

The DepEd also asked the Bangko Sentral ng Pilipinas for a moratorium on loans of DepEd employees and that the loans not be classified as non-performing, particularly during the period of December 2024 to March 2025.

“Our personnel have consistently served the nation and our people to ensure the future of the youth is brighter through the provision of quality education,” Angara said.