Implementation of Loan Payment Moratorium from April to June 2020
Implementation of Loan Payment Moratorium from April to June 2020
The Department of Education (DepEd) - Department of Finance (DOF) -DepEd-Finance issued an advisory on the Implementation of Loan Payment Moratorium from April to June 2020.
Based on the advisory posted by Annalyn M. Sevilla posted in her Facebook post, April 15, 2020, the following shall be implemented in relation to the processing of March, April, May and June salaries of DepEd employees:
"No loan payments will be deducted for borrowers as several financial institutions, including GSIS, DepEd Provident Fund and Landbank, have granted extension on the payment of loans without imposing interest or any additional charges and fees on the borrowers."
"This in compliance with the implementing rules and regulations (IRR) of “Bayanihan to Heal As One Act” (RA 11469)."
"Loan payment for April payroll will be refunded while moratorium of loan payments will be in effect for May and June payroll."
"Please be guided accordingly."
"Wala munang loan payment na ibabawas sa mga borrowers ng financial institutions kagaya ng GSIS, Landbank at DepEd Provident Fund, sa buwan ng Mayo at Hunyo bilang pagsunod sa implementing rules and regulations (IRR) ng “Bayanihan to Heal As One Act” (RA 11469). Sa pag-iral ng moratorium period, hindi rin ito papatawan ng interes o anumang karagdagang bayad."
"Makakaasa rin ang mga borrowers ng refund sa nabawas ng loan payment noong buwan ng Abril. Narito ang mga mahahalagang impormasyong dapat niyong malaman ukol dito:"
Based on the advisory posted by Annalyn M. Sevilla posted in her Facebook post, April 15, 2020, the following shall be implemented in relation to the processing of March, April, May and June salaries of DepEd employees:
"No loan payments will be deducted for borrowers as several financial institutions, including GSIS, DepEd Provident Fund and Landbank, have granted extension on the payment of loans without imposing interest or any additional charges and fees on the borrowers."
"This in compliance with the implementing rules and regulations (IRR) of “Bayanihan to Heal As One Act” (RA 11469)."
"Loan payment for April payroll will be refunded while moratorium of loan payments will be in effect for May and June payroll."
"Please be guided accordingly."
"Wala munang loan payment na ibabawas sa mga borrowers ng financial institutions kagaya ng GSIS, Landbank at DepEd Provident Fund, sa buwan ng Mayo at Hunyo bilang pagsunod sa implementing rules and regulations (IRR) ng “Bayanihan to Heal As One Act” (RA 11469). Sa pag-iral ng moratorium period, hindi rin ito papatawan ng interes o anumang karagdagang bayad."
"Makakaasa rin ang mga borrowers ng refund sa nabawas ng loan payment noong buwan ng Abril. Narito ang mga mahahalagang impormasyong dapat niyong malaman ukol dito:"
READ: Advisory on the Implementation of Implementing Rules and Regulations (IRR) 4 (AA) of the Republic Act (RA) No. 11469, otherwise known as the "Bayanihan To Heal As One Act"
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