Press Release
September 23, 2019

Senate Committee on Urban Planning, Housing and Resettlement affirms proposed 'Teachers Housing Program'

The Senate Committee on Urban Planning, Housing and Resettlement on Monday affirmed the importance of Senate Bill No. 660, "An Act to Provide for a Housing Program for Teachers," filed by Sen. Bong Revilla.

The Committee stated that Revilla's bill emphasizes the importance of helping teachers realize their ultimate goal of providing a decent home for their families, and not only focus on wages, pensions and retirement benefits.

In response, PAG-IBIG said that they can allocate P 5 B to P 10 B for DepED employees per year, which is bigger than what they have allocated for the proposed housing loan program.

Under Revilla's bill, the implementation of the Teachers Housing Program shall have three (3) major financing schemes: Housing Loan, Developer Assistance Fund, and Guarantee System Fund.

The Housing Loan can be used to purchase a brand new, or old and existing residential area, fully developed lot, or reconstruction and rehabilitation, or restructuring of an existing housing loan in any government housing or financial institution.

Under the Developer Assistance Fund, public school teachers can avail up to 80 percent loan for a house and lot package with a selling cost of P 120,000 or lower.

Meanwhile, the Guarantee System Fund provides teachers' housing loans not exceeding Php 150,000 with an interest rate of not exceeding twelve percent.

PAG-IBIG also stated that they have given 4,444 housing loans for teaching and non-teaching personnel from DepEd which comprises 40 percent of their total loans for 2018.

Bong Revilla also filed a resolution (P.S. No. 142) honoring and commending Filipino teachers for their hard work and commitment to shaping the learners of all generations.

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