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A Comprehensive Guide to the DepEd Teacher's Loan

The DepEd Teacher's Loan is a government program that provides financial assistance to qualified public school teachers. It is intended to help teachers with their educational expenses, such as tuition, books, and other materials. 


The program was created in response to the large number of teachers who were leaving the profession due to the high cost of education. The Teacher's Loan is seen as one of the most beneficial programs for teachers, as it helps them cover the costs of their education and allows them to continue teaching. 


This guide will provide you with all the information you need to know about the DepEd Teacher's Loan, including eligibility requirements, how to apply, and what you can use the loan for.


What is the DepEd Teacher's Loan? 

The DepEd Teacher's Loan is a financial assistance program created by the Department of Education (DepEd) to help public school teachers with their educational expenses. The program was designed to address the high attrition rate of teachers, which was caused by the high cost of education. 


To be eligible for the DepEd Teacher's Loan, you must be a Filipino citizen and a public school teacher with at least three years of teaching experience. You must also be employed in a public school that is recognized by the DepEd. 


The loan amount varies depending on your needs and financial capacity, but it can range from PHP 10,000 to PHP 40,000. The interest rate for the loan is 5% per year, and you have up to 10 years to repay the loan in full. 



How can I avail of the DepEd Teacher's Loan? 


To apply for the DepEd Teacher's Loan, you must first fill out an application form, which is available at any DepEd office or online at the DepEd website. 


Once you have completed the application form, you will need to submit it along with the following documents: 

- Letter of Intent 

- Certificate of Employment 

- School ID 

- Latest Income Tax Return (ITR) 

- Three months' worth of payslips 

- Post-dated checks for the loan amount plus interest 


The application process takes about two weeks, and you will be notified of the decision via mail. If your application is approved, you will be required to sign a promissory note and submit it to the DepEd. 



What are the benefits of the DepEd Teacher's Loan? 

The DepEd Teacher's Loan has many benefits for teachers, including: 

- Helping you cover the costs of your education 

- Allowing you to continue teaching 

- Offering a low interest rate 

- Giving you up to 10 years to repay the loan 



How do I repay the DepEd Teacher's Loan? 

 You will need to repay your loan in full within 10 years. The repayment schedule will be determined by the DepEd, and you will be required to make monthly payments. Payments can be made via post-dated checks or through automatic debit from your bank account. 


If you are unable to make a payment on time, you will be charged a late fee of 5% of the unpaid amount. If you fail to make payments for three consecutive months, your account will be referred to a collection agency.  


What happens if I can't repay the DepEd Teacher's Loan?

 If you are unable to repay your loan, you may be eligible for a deferment or forbearance. A deferment allows you to postpone your payments for a period of time, while a forbearance allows you to make reduced payments or suspend your payments altogether for a period of time. You will need to submit a written request for either option, along with proof of financial hardship. 



 FAQs about the DepED Teacher’s Loan 


Q: Who is eligible for the DepED Teacher’s Loan? 

A: To be eligible, you must be a Filipino citizen and a public school teacher with at least three years of teaching experience. You must also be employed in a public school that is recognized by DepED. 

Q: How much can I borrow? 

A: The loan amount varies depending on your needs and financial capacity but can range from PHP 10,000 to 40,000.  5% per year, payable within 10 years.