SSS Educational Loan

If you need additional funds for your children’s college tuition fees, you may seek help from the Social Security System (SSS) through the SSS Educational Loan Program.  This is open to SSS members who meet the following criteria:

(a). Payments for existing salary/housing loan amortization must be updated.  Overdue amount must not exceed three (3) monthly loan amortizations;

(b). Member must have paid at least thirty-six (36) monthly contributions, three (3) of which should be within the last twelve (12) months prior to the date of application of the loan;

(c). Member’s last posted Monthly Salary Credit must be Php15,000 or below while actual monthly basic salary must not be more than Php25,000.

Amount of Loan a Qualified Member may Apply For

The loan amount is determined primarily by the type of course the member or beneficiary is taking up.

(a). Degree Courses – Maximum of Php20,000.00 per semester/trimester/quarter term or actual tuition/miscellaneous fees, whichever is lower, rounded off to the next higher Php100.

(b). Vocational/Technical Course (minimum of 2 years) – Maximum of Php10,000 per semester/trimester or actual amount of tuition/miscellaneous fees, whichever is lower, rounder off to the next higher Php100.

A 6% interest per annum based on diminishing principal balance shall be applied on the loan amount.  For unpaid loan amortizations, a 1% penalty shall be applied per month.

Who can be covered by the program?

The proceeds of the educational loan can be used by the following:

(a). Member-borrower

(b). Member-borrower’s legal spouse

(c). Child of SSS member (including illegitimate)

(d). Siblings of unmarried SSS member (including half-brother/sister)

A married member-borrower are allowed to apply for up to two (2) beneficiaries, including himself.

What are the required documents for application?

(a). SSS ID or two (2) valid IDs.

(b). Accomplished application form.

(c). Assessment/Billing statement issued by the school of member/beneficiary.

(d). Proof of monthly salary/income.

(e). Income Tax Return or affidavit of income (for self-employed/voluntary paying).

You may download a copy of the Educational Assistance Loan form here.