Rizal Philippines
October 26, 2017
The TDC representing some 30,000 teachers knocked on the doors of Dep Ed in Pasig City protesting the very low take home pay of teachers due to the deduction from loans taken by teachers which include GSIS and other private lenders. The teachers are up in arms over the Dept Order No 38 which allows deduction from teachers salary of loans taken from Pag Ibig and GSIS which effectively lowers the take home pay of teachers Teachers owe PLI and GSIS some P300 billion
Ano tactic ito for loan abrogation? Malulugi GSIS at PLIs. What a way to express gratitude to lenders
PLIs are threatening to sue Dep Ed and the teachers if the loans are not paid (the salary deduction agreement not carried out; The PLI will not lend unless there is an agreement to deduct from salary, with the consent /request of the borrower) . Some concerns are raised over the mindset of teachers and financial literacy - ie of thrift and budgeting.
The Dep Ed or school principal should have filtering devices when ever teachers apply for a loan so that the P4,000 net take home pay limit is not breached.
