Guidelines on the Loan Moratorium Implementation
Guidelines on the Loan Moratorium Implementation
The Department of Education (DepEd) has released guidelines regarding the moratorium on loan payments for its teaching and non-teaching personnel, on December 19, 2024.
Key Details of the Moratorium:
A one-month suspension of loan payments for all DepEd personnel, effective January 2025.
Three-Month Moratorium for Calamity-Affected Areas: A suspension of loan payments from January to March 2025 for DepEd employees residing or working in areas declared as calamity zones by appropriate government agencies since September 2024. Payments will resume in April 2025.
Coverage: The moratorium encompasses all charges, costs, and interests associated with the loans.
DepEd has coordinated with the Bangko Sentral ng Pilipinas (BSP) to ensure that loans under this moratorium are not classified as non-performing during the specified periods.
The Teachers’ Dignity Coalition (TDC) has urged DepEd to provide clear guidelines to ensure that employees are not subjected to accrued interests or penalties during the moratorium period. They also recommend allowing employees who prefer to continue their payments during the moratorium to do so.
Employees are advised to consult with their respective lending institutions for personalized advice and to refer to official DepEd communications for comprehensive instructions.
Three-Month Moratorium for Calamity-Affected Areas: A suspension of loan payments from January to March 2025 for DepEd employees residing or working in areas declared as calamity zones by appropriate government agencies since September 2024. Payments will resume in April 2025.
Coverage: The moratorium encompasses all charges, costs, and interests associated with the loans.
DepEd has coordinated with the Bangko Sentral ng Pilipinas (BSP) to ensure that loans under this moratorium are not classified as non-performing during the specified periods.
The Teachers’ Dignity Coalition (TDC) has urged DepEd to provide clear guidelines to ensure that employees are not subjected to accrued interests or penalties during the moratorium period. They also recommend allowing employees who prefer to continue their payments during the moratorium to do so.
Employees are advised to consult with their respective lending institutions for personalized advice and to refer to official DepEd communications for comprehensive instructions.
𝑮𝑼𝑰𝑫𝑬𝑳𝑰𝑵𝑬𝑺 𝑶𝑵 𝑻𝑯𝑬 𝑳𝑶𝑨𝑵 𝑴𝑶𝑹𝑨𝑻𝑶𝑹𝑰𝑼𝑴 𝑰𝑴𝑷𝑳𝑬𝑴𝑬𝑵𝑻𝑨𝑻𝑰𝑶𝑵
Moratorium Coverage
a. DepEd borrowers shall be provided with one (1) month moratorium [for all DepEd personnel]; and/or three (3) month moratorium on loan payments [for bona fide DepEd personnel within the calamity areas as declared by the appropriate government agencies), or both, depending on the option chosen by the financial institution (FI).
b. The loan moratorium shall be implemented starting in January 2025 up to April 2025, as applicable. Regular payroll processing shall be made for the month of December 2024.
c. The loan moratorium shall apply exclusively to loan obligations, including principal, interest, penalties, and other similar accruals and charges for the specified periods.
d. Salary deductions for insurance premia, membership fees, and the like shall not be covered by the moratorium.
e. The loan moratorium shall be limited to affected areas specified in Annex A.
f. The loan moratorium shall cover the Financial Institutions (FI) in the attached annexes, as follows:
f.1 Annex B List of financial institutions granting 4-month moratorium
f.2 Annex C- List of financial institutions granting 3-month moratorium
1.3 Annex D-List of financial institutions granting 1-month moratorium
1.4 Annex E-List of members of Chamber of Thrift Banks (CTB) and Rural Bankers Association of the Philippines (RBAP) granting loan moratorium through refund but will collect interest
1.5 Annex F-List of members of Salary Deduction Assurance Association, Inc., granting loan moratorium through refund and will waive interest
2. Payroll Adjustments
a. The Central Office through the Information and Communications Technology System Solutions Development Division (ICTS-SDD) shall develop the necessary adjustments in the payroll program for the period covering January 2025 to April 2025, as applicable. The said program shall be provided to all Regional Payroll Services Units (RPSU).
● Put/mark "X" on all affected loan amortizations in the "Deducted Obligations" that will be moved to "Undeducted Obligations" portion of the pay slips.
● Extend the termination dates of loan amortizations that will be moved to the "Undeducted Obligations" portion of the pay slips by the number of months of moratorium granted.
● First-In-First-Served queuing system shall still be strictly observed.
● No "Undeducted Obligations shall move to Deducted Obligations of the pay slip due to the increase in Net Take Home Pay.
● Queue all new deduction billings to be received by the Regional Payroll Services Units in the "Undeducted Obligations" of the pay slip of DepEd personnel.
● Include the necessary reminders in the pay slip for the information of concerned DepEd personnel.
b. The DepEd CO shall release the adjusted program to the RPSUs. All implementing units shall also adjust their payroll program according to the above directives.
3. Application and Verification for New Loans
a. DepEd personnel shall be allowed to apply for new loans, subject to the limitations in the TCAA.
b. DepEd verifiers shall verify the loan applications carefully, in compliance with the existing rules, guidelines and this memorandum.
3. Interests and Penalties
The DepEd borrowers shall not incur any additional charges, costs, penalties, surcharges, interests, interests on interests, or any other accruals on the outstanding loan balance due to the moratorium.
4. Voluntary Payments (Over-the-Counter)
DepEd borrowers that were granted this moratorium who wish to continue their deductions can pay their monthly obligations with their respective financial institutions over-the-counter.
5. Further Clarifications
a. The loan moratorium was requested to provide financial relief to DepEd personnel affected by the recent typhoons.
b. The "First-In-First-Served queuing system shall still be strictly observed. FIs that are in the lower queue, or not in the queue at all prior to November 26, 2024, shall not benefit in any way from the moratorium granted by FIs in the higher queue.
c. In the computation of the net take home pay, the DepEd verifiers shall accommodate the pay slips with Undeducted Obligations due to loan moratorium to determine if the DepEd borrower can still obtain loans.
d. The intention for the loan moratorium is to pause the loan payment and to correspondingly adjust the term of the loan by the corresponding number of months of moratorium granted by the Fis. There shall be no lump sum repayment of the loan after the moratorium period, neither shall there be any accruals of interests, interests on interests, surcharges, penalties, and similar other charges and fees.
e. Financial institutions under specific associations have provided a separate mechanism for the loan moratorium for the benefit of DepEd personnel
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