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

Abstract

INTRODUCTION

In the researcher’s 4 years of service as a government employee of DepEd Calamba City, he observed some teachers and even non-teaching personnel incurring loans from different Private Lending Institutions or in the Provident Fund. insome cases, they have 4-5 loans from PLI's which resulted in net pay ranging to Php. 2,000-4,000 per month. The researcher decided to conduct this study to learn about this situation and identify the reasons or purposes for loan applications. This research aims at finding solutions to minimizing loans and in helping DepEd Employees on the proper management of their income.

METHODS

The researcher used the survey and interview method to gather data from his respondents. With the use of the survey form, he was able to gather the data faster and the interview helped me verify all the information in the survey form. His respondents were teaching and non-teaching personnel from the biggest secondary schools in DepEd Calamba City.

RESULTS

Loans are good if people have enough salary to its payment as it becomes the only solution to solve financial problems. An example is when a person or his / her family member is hospitalized, and one doesn't have enough savings to pay for one’s hospital bills and the fastest way to have cash is to apply for a loan on PLI's or Provident Fund. Some of the employees have experienced this situation and they have no choice but to file a loan. Some teachers use their loans to pursue further education for promotion while others use their loan to buy gadgets such as laptops for school use: in computing grades, preparing lesson plans and teaching materials.

DISCUSSIONS

Every employee in government or private company has loans from financing institutions. A private lending institution or provident fund helps DepEdEmployees support their needs but there must be a regulation to control or limit the loan of every employee. This will help in the proper management of their salary and guide every employee on their prioritization of each expense incurred 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 medical purposes. One must consider the package health care providers are offering and the benefits one can get from it. The best result for this is that a company’s employee will not be afraid of being hospitalized or going to a hospital for a regular check-up. It will also provide employees peace of mind on unexpected expenses.