Guide on SSS Educational Loan Requirements for those Who Want to Apply
SSS EDUCATIONAL LOAN REQUIREMENTS – Here is a list of the documents that you need to prepare and submit in applying for SSS Educational Loan.
Truth be told that studying requires financial components most especially in college. Meanwhile, for some people who are members of the Social Security System (SSS), they have something to turn to – the SSS Educational Loan.
The SSS offers the Educational Loan for members who earn not more than P25,000 monthly and whose last SSS monthly salary credit is P15,000 or below and has paid at least 12 monthly contributions. Under this loan offer, the member can borrow to fund a degree course or a vocational or technical course. There are SSS Educational Loan requirements that should be submitted to apply for the loan offer. See below:
List of SSS Educational Loan Requirements:
- duly-accomplished and signed SSS Educational Loan Application Form (there is a part in the form which must be filled out by the school authorized personnel)
- SSS ID of the member-borrower or two (2) valid IDs (original and photocopy)
- assessment or billing statement from the school
- photocopy of the stamped SSS E1 form of your child, spouse, or sibling
- proof that your monthly earning is not above P25,000. It can be any of the following documents:
- original and photocopy of payslip
- original and photocopy of pay envelope
- Certification of Income from employer
- latest ITR stamped by the Bureau of Internal Revenue (ITR) (if self-employed)
- notarized Affidavit of Income stating your actual monthly salary or income (if self-employed or voluntary)
To apply, submit the aforementioned documents to a branch of the Social Security System (SSS) nearest to you. Once approved, the monthly payment for your loan will start 18 months from the date when the check was released. You can have the payment term extended to a maximum of five (5) years.
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