The Department of Education (DepEd) has formally asked the Bangko Sentral ng Pilipinas (BSP) to review the repayment terms of salary loans for public school teachers.

DepEd Secretary Sonny Angara said the request stems from calls by teachers to extend the loan payment period. Currently, BSP allows a standard three-year term, which may be extended up to five years under certain circumstances.

Angara said that while the department follows BSP regulations they recognize that many teachers rely on these loans to meet their daily needs

On January 30, Angara submitted a request urging the central bank to explore alternative mechanisms that could ease the financial burden on educators.

The BSP governor, Eli Remolona, is expected to respond by February 9.