What is and how does the Government Agency subsidized loan for teachers work?
When we talk about Government Agency loans we usually refer to loans dedicated to civil servants. However, there are subsidized loans dedicated to public teachers, it is the teachers Government Agency loan.
To call it correctly, one should speak of a small loan Management Assistance Master. With the elimination of ENAM, in fact, all social security and credit services for the institution have passed to Social Institute, which created the Magisterial Assistance Management to manage them. This is therefore the reference office for public teachers who are looking for subsidized financing.
When funding can be obtained
But how does the small Government Agency teacher loan work? The former Enam loan is granted only to meet specific expenses, which are shown below. The granting of capital takes place through a pension fund. Therefore, the intervention of banks and financial companies is not envisaged.
- birth or adoption of children;
- marriage of the applicant or children;
- death of family members;
- serious illness of the applicant or family members;
- purchase of the dwelling house;
- extraordinary maintenance of the home;
- mortgage in progress for the purchase of the first house;
- dental care referred to the applicant or dependent family members;
- Change of residence;
- purchase of a car;
- expenses for attending university courses by the applicant or children;
However, it is also possible to request financing for extraordinary events, which do not fall within the reasons listed above. However, it is necessary that the reason for which the loan is requested determines a particular state of need in the applicant.
Rates and online loan application 2018
The maximum amount payable for the Government Agency teacher loan is fixed at two months’ salary for the applicant. The repayment extends for 24 months. As regards the interest rate, the Tan is fixed at 1.5%.
Then there are the administration costs and the premium for the Social Institute Guarantee Fund, totaling 1% of the gross amount of the loan.
The loan application must be submitted electronically, using the online service on the Social Institute.it site. The request must be accompanied by all the documentation certifying the expense that must be incurred. There is a user manual on the Social Institute official website which explains how to proceed with the transmission of the request.