GSIS adds 400 new college scholars
State-pension fund Government Service Insurance System (GSIS) has added 400 new college scholars to the GSIS Scholarship Program (GSP) for Academic Year 2016-2017.
The 400 college scholars are children or dependents of GSIS members with the lowest salary. Under GSP, GSIS will shoulder the scholar's actual cost of tuition and miscellaneous fees not exceeding Php40,000 per academic year. GSIS has also raised the monthly allowance to Php3,000 from Php2,000.
The number of new scholars was doubled from the previous 200 to provide more children and dependents of low-income GSIS members an opportunity to earn a degree from schools that provide quality education. Of the 400 members, 40 are persons with disabilities, indigenous peoples, and solo parents.
In response to the K to 12 Program's transition period, this year's GSP was not only limited to incoming freshmen but included those enrolled in any level of a four- or five year course in schools accredited by the Commission on Higher Education.
Scholarship grantees were selected from over 2,000 applicants based on annual basic salary, length of service, course category to enrol in, status of employment, region, premium payments for the last six months, and sectoral group represented.
GSP grantees are to submit the following requirements: signed and notarized Scholarship Contract; course curriculum; duly accomplished Scholar Information Sheet; and original or certified true copy of Registration and Enrolment Assessment Form and official receipts for the First Semester or Term of AY 20162017. Failure to submit the documents will forfeit the scholarship grant.
Parents or guardians of scholars residing or enrolled within or near Metro Manila are also required to attend the orientation on September 21, 1 p.m., at the GSIS Head Office in Pasay City. Those in the provinces may go to the nearest GSIS office on the same date to attend the same orientation via video conference.
Launched in 1998, GSP is an initiative under GSIS's corporate social responsibility program, producing 656 graduates to date. From the 300 scholars chosen in 2012 when the selection process was first amended from electronic raffle to salary-based, 199 scholars have graduated last year, while 60 students will complete their education this year.
"Due to the continuing program enhancements since 2012, the drop-out rate substantially fell from 57 percent to only 5.75 percent", President and General Manager Robert Vergara said.
Among these enhancements is the grant of cash incentives for students who will graduate with Latin Honors at Php20,000 for cum laude, Php30,000 for magna cum laude, and Php50,000 for summa cum laude. Of those who graduated in 2016, eight cum laude graduates received Php20,000 each, while one magna cum laude graduate was given Php30,000.