Mendoza: 60 Day Loan Moratorium Explained

The Scribe’s Corner

BAYANIHAN to Recover as One Act was signed into law by no less than President Rodrigo R. Duterte to once and for all provide a unifying effort and assistance to ALL people and industries affected by the dreaded Covid-19 disease. And ALL means all sectors, not only the Department of Education (DepEd), the affected drivers, small and medium industries even the then established banking and lending industries. Allow me to share in toto this article written by DepEd Undersecretary for Finance Annalyn M. Sevilla, to give us a thorough understanding of the law and how this will be implemented in the DepEd context in light of the Memorandum OUF-2020-0552 on the Internal Guidelines on the Implementation of Section 4 (uu) of RA No. 11494, otherwise known as the “Bayanihan to Recover as One Act.”

My dear DepEd employees, please read again the Bayanihan Law 2 and the corresponding guidelines/memo before you make comments hastily, in addition, make unnecessary remarks against person/s, institutions and even the government. Naisip ko na nga mag explain ng mas maaga bago ilabas ang guidelines para mailatag ang mga technical at financial implications and considerations at maiwasan na kayo ay mag “jump into own interpretations and conclusions”.

The BA2 is helpful and provides additional relief to you because you will be given chance to STOP loan payments. However, like in any other situation and partnership (this time between YOU as borrower and your LENDER), you need to understand that there are also cost and economic implications to the financial institutions’ standing if this is not managed properly.

Uulitin ko at balak ko na din mag drawing o maglagay ng illustrative examples para mas maintindihan nyo ng maayos. I will also discuss this in video recording para maliwanagan kayo, ok?

1. Lahat ng PLIs/GFIs na accredited ng DepEd Auto Payroll Deduction System (APDS) mula Oktobre at Nobyembre (except GSIS which chose to do it on Nov/Dec) ay magbibigay ng PALUGIT (pahinga/rest/stop) ng pagsingil sa inyong pagkakautang. = this is the grace period provision of the law

2. Ito ay bilang pagsunod sa sinasabi ng batas (BA2) na magbigay ng 60 araw na palugit sa pag bayad ng pagkakautang. Kaya HINDI ibabawas ng APDS sa inyong sweldo ang nakasaad sa numero uno (item sa itaas). = this is the grace period provision of the law

3. Magdadagdag ng 2 buwan sa kasalukuyang buhay (term) ng inyong utang ang APDS para ilipat ang naka schedule na babayaran ninyo sa 2 buwan na mayroon na palugit. At ayon sa batas, ang dagdag na 2 buwan na palugit ay hindi na dapat madagdagan ng interes o anupaman na pataw na halaga. = this is the loan moratorium provision of the law

4. NGUNIT (at ayon din sa batas, at hindi sa DepEd) ay maari na magpataw ng ACCRUED interest ang nagpautang pagkatapos ng 60 araw na palugit (ito ay para lamang sa natipon na interes para sa 60 day na palugit na inyong na avail) at hindi interes sa interes ng inyong original na pagkakautang. Kung ayaw ninyo na may accrued interest na ipataw sa inyo at ibalik na Lang sa original na loan term schedule ang inyong utang, ibalik nyo Lang ang 2 buwan na hindi siningil (o na refund sa inyo) over the counter at ipagbigay alam sa DepEd APDS para maiayos ang inyong loan schedule. =you availed of the grace period provision, but not the loan moratorium

5. Kung ikaw naman ay payag na habaan o ilipat ang inyong 2 buwan na pag hinto sa pagbayad sa dagdag na 2 buwan ng buhay ng inyong utang, bayaran mo lang ang accrued interest sa PLI/GFI sa labas ng APDS system (makipag ugnayan sa inyong PLI/GFI). Hindi pupwede na magkaroon ng interes sa interes ang na compute na accrued interest, yun halaga na dapat para lamang sa grace period ang dapat na dagdag (na ayon din sa batas). = you availed of the loan moratorium

6. Ginawa ni Sec Liling Briones na sulatan at HIKAYATIN ang lahat ng PLIs at GFIs na accredited ng APDS na alisin na nila ang pag singgil ng accrued interest para mas madami na empleyado ng DepEd ang maka avail ng moratorium at hindi lang grace period. Nakipag usap at negotiate tayo sa higit na 173 financial institutions. 89 sa kanila ay pumayag na magbigay ng moratorium na WALA ng accrued interest (see attachment A for list), Salamat sa kanila! 30 ang nagsabi na Kaya nila magbigay ng grace period lamang at kung gusto ng borrower na mag avail ng moratorium, kailangan lang nila bayaran ang accrued interest (see attachment B ), 50 ang Hindi sumagot o nagbigay ng commitment kung sila ay mag waive ng accrued interest (see attachment C) maaari nyo na makontak ang inyong pinagkakautang na institution para malaman ang kanilang policy.

Ginawa ng DepEd na makipag ugnayan para sa inyo, pero sa kahuli-hulihan, ang pag pasya (CHOICE) at responsibilidad (RESPONSIBILITY) ay nakasalalay sa inyo.

Let us act, speak and behave like the institution we represent. There is no other time to show or manifest to the youth (and stakeholders we work with) the good morals and right conduct we ought to teach them.

Salamat po at abangan na lang ang “drawing” na makakayanan namin na gawin para mas maintindihan ang batas at polisiya... balak ko din ito ipaliwanag at sagutin ang mga hindi pa malinaw na provision para sa inyo thru video... we think of ways to help each other, for the welfare of the DepEd employees.

God bless us, God bless DepEd! (Author’s Note: The illustrations are already available on the official page of Usec. Annalyn Sevilla.)


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