Angara seeks loan payment moratorium for calamity-hit teachers

By By Stephanie Sevillano, Philippine News Agency

Angara wrote a letter to private financial institutions to grant the request of teachers and DepEd staff, who are bona fide residents of calamity-stricken areas, for a three-month loan payment moratorium. (File Photo: DepEd Philippines/Facebook)

MANILA – Department of Education (DepEd) Secretary Sonny Angara on Friday sought a three-month moratorium on loan payments of public school teachers and non-teaching staff in areas under a state of calamity following successive strong typhoons that battered most parts of Luzon.

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

“Our personnel have consistently served the nation and its people in ensuring that the future of the youth is brighter through the provision of quality education,” he added.

Angara wrote a letter to private financial institutions to grant the request of teachers and DepEd staff, who are bona fide residents of calamity-stricken areas, for a three-month loan payment moratorium.

It also indicated a request for payments to resume in April 2025, seeking to cover all charges, costs, and interests.

The DepEd also coordinated with the Bangko Sentral ng Pilipinas (BSP) so that loans subject to the moratorium will not be classified as non-performing loans from December 2024 to March 2025.

Besides financial institutions, Angara requested similar intervention and terms for loan payments from the Government Service Insurance System.