To buy-out teacher’s loans this 2022 is the intense and unstoppable competition of GSIS and PLI’s
GSIS and many PLI’s are competing to buy-out teacher’s loans recently. This is after the approval of the memorandum on the extension of the loan terms by DepEd. Instead of giving teachers three (3) years term, it is now extended to five (5) years. Although some teachers opposed to it, many were still thankful.
The extension of the loan term means an addition to the money they can bring home upon renewal of the loans. It was then that many teachers already availed GFAL from GSIS. They thought that GFAL will help them big time but it was the opposite.
Now, many PLI’s are offering to buy-out teacher’s loans. This move from the PLI’s alarmed GSIS so they also compete for the said offer. Loans from other PLI’s can now be buy-out considering their amount is applicable. Since teachers don’t life GSIS anymore, they resort to the many options they have.
To buy-out teacher’s loans from the more complicated PLI’s is the target of some leading PLI’s. It is the way of the banks to gather more clients and call the attention of more customers. As a result, teachers have many options and they can still think and re-think their decisions.
The result, GSIS and more PLI’s are now in their intense competition to buy-out teacher’s loans. It is already the jurisdiction of the teachers who to choose from the options they have. Of course, teachers should be wiser now since the long term loan means long periods of waiting. You wait when your loan will finish for you to be debt-free.
I can only say one thing to you my fellow teachers, we have to be wise in spending our loans. As you know, it is still our hard-earned money. Choosing the right PLI for us is a matter of choice. If they want to buy-out teacher’s loans they must provide us their assurance first. – Alec | Helpline PH