Precious Hipolito-Castelo has filed a bill authorizing government-owned banks to open a special loan window that would grant low-interest loans to public school teachers. 1015 or the proposed “Public School Teachers Special Loan Window Act,” the new loan facility would be different and separate from existing emergency loans for public school teachers, which usually impose high-interest rates. The lawmaker also said the bill intends to help teachers who often fell victim to loan sharks. READ: Public school teachers’ debts rose to P319B in 2 years – DepEdThe Department of Education revealed earlier this year that public school teachers owe a combined debt of at least P319 billion from the Government Service Insurance System (GSIS) and private lenders. (Editor: Eden Estopace)READ: Teachers fall prey to loan anomaly, but get no choiceADVERTISEMENTRead NextLATEST STORIESMOST READ

Source: Philippine Daily Inquirer July 09, 2019 07:02 UTC