The SSS Educational Assistance Loan Program (EALP) is designed to help SSS members and their beneficiaries finance their education. Below are the eligibility requirements for both member-borrowers and beneficiaries:
Member-Borrower Eligibility
To qualify as a member-borrower, you must meet the following criteria:
- Age: Must be below 60 years old at the time of application.
- SSS Contributions: Must have at least 36 posted monthly contributions, with 6 contributions made within the 12 months prior to the loan application.
- Income Limit: Your monthly basic salary or income should not exceed ₱25,000.
- Loan Status: Must be up-to-date with all existing SSS loan payments (e.g., salary loan, housing loan).
Beneficiary Eligibility
The loan can be used for the education of the following beneficiaries:
- Member-Borrower: The SSS member themselves.
- Legal Spouse: The member’s husband or wife.
- Children: Legitimate, illegitimate, or legally adopted children of the member.
- Siblings: Unmarried brothers or sisters, including half-siblings, of the member (if the member is single).
Note: Only one beneficiary is allowed per member-borrower at a time. Substitution of the beneficiary is not permitted once the loan is approved.
Course and Institution Requirements
The loan covers educational expenses for:
- Undergraduate Courses: Offered by universities and colleges recognized by the Commission on Higher Education (CHED).
- Technical/Vocational Courses: Programs accredited by the Technical Education and Skills Development Authority (TESDA).
The educational institution must be duly recognized by the Philippine government.
Additional Notes
- First-Time Borrowers: Must meet all the above criteria for initial application.
- Existing Borrowers: For subsequent applications, you only need to have 6 posted contributions within the last 12 months and be up-to-date with loan payments.
Conclusion
The SSS Educational Loan is a valuable financial aid program for SSS members and their families. By meeting the eligibility criteria, you can access funds to cover tuition and other educational expenses. For more details, visit the SSS website or contact your nearest SSS branch.
