Student Loan Trust Fund publishes names of defaulters (LIST)
The Students Loan Trust Fund (SLTF) has implemented a significant measure to address loan defaults by publicly disclosing the names and information of 30 borrowers who have failed to repay their loans.
This action, in accordance with the provisions of the Students Loan Trust Fund Act 820, is a necessary step before legal prosecution can be pursued.
The publication, featured in the May 22nd, aims to draw attention to borrowers who have defaulted on loan amounts ranging from ¢1,500 to ¢11,000.
Nana Kwaku Agyei Yeboah, the CEO of the Fund, attributes the increase in loan defaults to the introduction of the “no guarantor” policy and the higher number of students accessing tertiary education due to the Free SHS policy.
The notice sent to the defaulters states, “We refer to the loan you obtained from the Students Loan Trust Fund when you were a tertiary student in Ghana, according to the terms and conditions outlined therein.
In accordance with the provisions of the Students Loan Trust Fund Act 2011, Act 820, we hereby demand that you repay the full outstanding loan balance as of May 8th, 2023 (as attached), within one month of this demand notice’s publication.”
By taking firm action against loan defaulters, the SLTF aims to uphold the integrity of its loan programs and create opportunities for future students to benefit from financial assistance for their education.
See the list of the first batch of defaulters below: