Financial Assistance through Loan: A Case of Selected Teaching and Non-Teaching Personnel of Deped Calamba City

Abstract

Introduction

In my 4 years of service as a government employee of Deped Calamba City, I observed that some of the teachers and even non-teaching incurred loans from different Private Lending Institutions or in Provident Fund. In some cases, they have 4-5 loans from PLI's which resulted in net pay ranging to Php. 2,000-4,000 per month. I decided to conduct this study to learn about this situation and identify what are the reasons or purposes of loans they applied for. How this loan can be minimized and help Deped Employees on the proper management of their income.

Methods

I used a survey and interview method to gather data from my respondents. With the use of the survey form, I gather data faster with a little amount of time while interviewing help me to verify all information in the survey form. My respondents are teaching and non-teaching personnel of our biggest secondary schools here in Deped Calamba City.

Results

Loans are good if you have enough salary to pay for it but sometimes it becomes the only solution to solve their problem. The best example is when you or your family member was hospitalized, and you don't have enough savings to pay your hospital bills and the fastest way to have cash is to apply for the loan on PLI or Provident Fund. Some of our employees have experienced this situation and they have no choice but to file a loan. Some teachers use their loans to pursue education to gain more knowledge and promotion while others use their loan proceeds to buy gadgets like laptops to be used in schools in computing grades, preparation of lesson plans and as teaching materials. I choose this study to determine why some Deped Employees tend to have many loans and their purposes and identify possible solutions by providing financial literacy programs, health care benefits and scholarship programs for all employees.

Discussions

Every employee in a government or private company has loans from financing institutions. The private lending institution or provident fund helps Deped Employees in supporting their needs but there must be a regulation to control or limit the loan of every employee. This will help them in the proper management of their salary to guide every employee on how they will prioritize each expense that they incur in a month. Health Care Benefits are very important to an employee especially when they don't have any savings in case of hospitalization or medicinal purposes. Providing health care benefits for all employees is easy. It will cost a lot of budgets but in return, it will result in the loyalty of your staff. You must consider you're the package that health care provider is offering and the benefits that you can get from it. The best result of this is that your employee is not afraid of being hospitalized or going to the hospital for a regular check-up. Also, it will provide the employee with peace of mind on unexpected expenses. Every employee must have a continual improvement plan to improve his or her knowledge in his field. It may also result in higher productivity because an employee is motivated. It may also increase the learning of his students by sharing or applying what he had gained from seminars and training. One of the most relevant kinds of continual improvements is taking a Master's Degree or exposure to different trainings.