State pension fund Government Service Insurance System said it will open a yearly P100 million educational subsidy program for children or dependents of low-income members through the GSIS Educational Subsidy Program.
“In support of the social development policy of President Duterte to provide wider access to quality college education to the marginalized sector, GSIS aims to augment the means of its low-income members in sending their children or dependents to college through the grant of a P10,000 yearly allowance through GESP,” GSIS chairman and concurrent acting president and general manager Rolando Ledesma Macasaet said.
“To extend aid to more recipients, we are offering GESP to a wide number of members. We will select 10,000 children or dependents of members with the lowest annual basic salary from among the applicants nationwide, ” Macasaet said.
He said the program is open to all active GSIS members with permanent employment status who are occupying salary grade 24 (or its equivalent) and below with updated GSIS premium payments and no unpaid or underpaid loan amortization for more than three months for the duration of the grant. They should also have college student dependents in any year level who have been accepted in or taking up any four- or five-year course in any university or college recognized by the Commission on Higher Education.