MANILA - Teachers no longer have to worry about their pending loan payments while the lockdown due to the COVID-19 pandemic remains in effect as the Department of Education (DepEd) has arranged for payment extensions with public and private lenders, an education official said Tuesday.
Education Undersecretary Annalyn Sevilla said in a virtual press briefing that the Department of Education has reached out to all private lending institutions and government financial institutions accredited to provide loans to public school teachers.
She said the reprieve covers all loans automatically deducted from public school teachers' salaries, "particularly those that reach P1 million."
"Hindi po sila mag-aalala na kailangang bayaran agad dahil kami na po ang mag-adjust, kung ang inyong loan ay naka-encode sa aming database, salary payroll database, kami po ang mag-extend ng loan term nito," Sevilla said.
(They don't have to worry about paying for now because we will adjust, if their loans are encoded in our salary payroll database, we will extend the loan term.)
The entire island of Luzon and several parts of Visayas and Mindanao were placed under lockdown to control the spread of the coronavirus disease.
Under the lockdown, several banks and utilities have deferred payment deadlines as quarantine restrictions have left many struggling to make ends meet.
- report from Jaehwa Bernardo, ABS-CBN News