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Calamity loan

 

The Department of Education (DepEd) announced yesterday that a calamity loan of up to P20,000 may now be availed by teachers and its non-teaching personnel who were directly affected by the southwest monsoon-enhanced typhoon `Maring’.

“This is an urgent measure to promptly respond to our teachers who need help returning to their normal lives after tragedy,“ said Education Secretary Armin Luistro. “The applications for calamity loan must be received within two months after the area has been declared under the state of calamity,“ he added.

Based on DepEd Order (DO) No. 10 series of 2011, the P20,000 maximum amount of calamity loan comes with an interest rate of six per cent per annum. The loan is payable in 24 equal monthly installments for two years, and will be automatically deducted in the payroll. (Ina Hernando-Malipot)

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