SSS Educational Assistance Loan Program

If you need some funds for your children’s education in College, you can borrow money from SSS.

Social Security System announces its Educational Assistance Loan Program for its members. Read the whole article for some details regarding the program.


How to qualify for SSS Educational Assistance Loan Program?

  • Member-borrowers who are below 60 years old.
  • Those with the basic salary of not more than P25,000.
  • Not less than 36 posted monthly contribution six of which should be posted within the last twelve months prior to the month of filing.
  • Up to date payment of other loans if any.

Covered Beneficiaries

Member-borrower, his/her legal spouse, hi/her child (legitimate, illegitimate or adopted), and sibling if the member is single.

How to apply?

  1. Download and Print the Educational Assistance Loan Program application. You can find it on the SSS website or download it here.
  2. Fill up Part 1 of the form.
  3. Whereas for Part 3 of the form, ask the Authorized Representative of the School to fill it out where the beneficiary is enrolled.
  4. Go to any SSS branch near you and bring with you a valid ID, current school assessment or billing statement.
  5. If this is your first time, bring proof of relationship to the beneficiary of the member borrower. This can be either a Birth Certificate, Marriage Contract and proof of monthly salary of member-borrower.
  6. In case the loan is approved, get the check personally or through an authorized representative. Go to the same SSS branch where you applied and pay it directly to the school of the beneficiary.
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Amount of Loan

For Degree Courses– A maximum of 20,000 per semester/trimester/quarter term or full amount tuition/miscellaneous fees, whichever is lower.

For Vocational Technical Course– Maximum of 10,000 per semester/trimester or full amount of tuition/miscellaneous fees, whichever is lower.

Eligible Courses and Schools

Undergraduate Courses offered by Universities and Colleges recognized by the Commission on Higher Education and Technical Education and Skills Development Authority.

Interest Rate

  1. NG (National Government) portion has ZERO (0%) interest.
  2. SSS (Social Security System) portion has 6% interest per annum (based on diminishing principal balance until fully paid).
  3. Consolidated Loan (this is composed of all loan releases plus accrued interests) – SSS portion bears 6% interest.
  4. Maintenance Charge is 2% of the consolidated loan balance
  5. The penalty is 1% per month for any unpaid amortization
  6. P300 service fee for any request for replacement of EALP check.

Payment Terms

After 18 months from the date of release of last loan check, you can pay your loan in installment. The repayment term is up to 5 years for degree course and up to 3 years for vocational students.

Source: SSS

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