Wednesday, 30 Sep 2020

DepEd Releases Loan Payment, Refund and Moratorium Guidelines

DepEd Releases Loan Payment, Refund and Moratorium Guidelines

DepEd Releases Loan Payment, Refund and Moratorium Guidelines. DepEd recently releases a guidelines on loan payment, refund and moratorium under COVID-19 pandemic crisis.

DepEd needs to be compliant with the law and implement only one process or s stem in enforcing the mandate 30 days period on loan.

May 2020 – For PLIS — DEDUCT in the payroll the loan amortizations due but no remittance (HOLD) the payments to PLIS pending additional moratorium offers Of PLIS thru a concurrence to the Expanded Relief Option to cover May remittances. A General Letter was sent through email to the PLIS giving them option to provide additional relief by concurring to an Expanded Relief Option to be submitted on or before April 15, 2020. (Annex E) GSIS, Pag-lbig and Provident Fund — Effect moratorium Of deduction for loan amortization.

June 2020 – For PLIS — DEDUCT in the payroll the loan amortizations due but no remittance (HOLD) the payments to PLIS pending additional moratorium offers of PLIS thru a concurrence to the Expanded Relief Option to cover June remittances. Effect moratorium of deduction for Provident Fund loan amortization falling due in June Depending on result Of DepEd’ s negotiation with GSIS, deduct and hold the remittance due to GSIS pertaining to loan payments OR effect moratorium fall due in June.

Bangko Sentral ng Pilipinas – 30 days grace period in the payment of loans and extended loan period for 30 days. Such that new due date is extended for one (10 month. (i.e. plus one monthly amortization) based on BSP Memorandum No. M-2020-018 dated April 6, 2020.

Government Service Insurance System (GSIS)
Includes 3-months moratorium (i.e. march, April, May) without interest and corresponding extension ooan payment to three (3) months through Memorandum Circular No. 15, s. 2020 (annex B). New due dates shall be extended for three (3) months.


DepEd Provident Fund (PF)
Includes 3-months moratorium on payment of PF loans from April to June, extending the payment for an additional three (3) months, such that new dates shall be extended for three (3) months, without accruing additional interests and penalties.

DepEd Releases Loan Payment, Refund and Moratorium Guidelines - 1
DepEd Releases Loan Payment, Refund and Moratorium Guidelines - 2
DepEd Releases Loan Payment, Refund and Moratorium Guidelines - 3
DepEd Releases Loan Payment, Refund and Moratorium Guidelines - 4

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