17. A was a public school teacher in XYZ Elementary School. She applied for and was granted several loans on various dates by the Government Service Insurance System (GSIS) amounting to PHP 147,000.00. In 2020, she retired from the service. She was subsequently informed by the GSIS that her loan accounts were considered to have been fully settled after her unpaid loans and interests, amounting to PHP 638,172.59, were deducted from her retirement benefits. It turned out that GSIS imposed interest on arrears equivalent to 12% per annum compounded monthly and a penalty equivalent to 6% per annum compounded monthly on A’s loans, leading to the increase of her outstanding loan by 432.135% from the original amount. Failing to obtain a favorable ruling from the GSIS, A went to court, seeking to reduce the interest on arrears and penalties for being unconscionable. Is A’s argument meritorious? Reason(s).