The reputation of student loans is embarrassing for borrowers
The Student Loan Trust Fund (SLTF) has released the first names and contact details for30 of its borrowers, who have paid off their loans.
Prints and drawings were made daily on May 17 and 22. Loanamounts range from 1,500¢ to 11,000¢.
According to the SLTF, the move is in line with Rule 820 Student Loans Trust Fund, which empowers the SLTF to publish defaulters as one of the necessary pre-litigation procedures. The managers of the Fund considered this decision important, to meet the needs of loans from students in higher education.
The Chairman of the Fund, Nana Kwaku Agyei Yeboah, said the increase in demand was due to the introduction of the “no sponsor” law and the highnumber of students accessing higher education as a result ofthe implementation of the SHS law. for free. "Theimplementation of these two policies has the effect that the government means that for the first time, students from poorfamilies have a good chance of getting higher education.
"Many of them, however, do not have enough money to qualify for SLTF for governmentsubsidized loans." He said that the SLTF is implementing various strategies to meet the rising demand for loans, including expanding its sources of funding and launching greater incentive schemes.
Debt and Asset Management Manager Rosemary Aryee said that over the past few years, SLTF has invested heavily in increasing the number of platforms available forborrowers to repay their loans. This, he said, was intended to make it more convenient for borrowers and more efficientfor SLTF.
Borrowers can choose to repay their loans through SLTF partner banks, credit or debit cards, mobile money or the Ghana.gov platform. Borrowersin the US, Canada, the UK and Europe have the option of using PayAngel's regular payment system.
Ms. Aryee said the SLTF is now focusing on enforcement by going after the defaulters. "This fund is based on loan recovery for its food and it is through thisthat a new generation of students has access to financial aid.
"Lenders refusing to repay their loans are depriving others of access to higher education and we have taken the decision to initiate criminal proceedings to recover the money owed."
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