Students Loan Trust Fund Disburses GH¢20 Million to Over 13,500 Beneficiaries

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The Students Loan Trust Fund (SLTF) has distributed GH¢20 million to 13,500 students in tertiary institutions across Ghana.

This latest disbursement covers final-year and continuing students for the second semester of the current academic year. In total, the SLTF has released GH¢60 million in loans since January 2024.

According to the SLTF’s Chief Executive Officer, Nuhu Bayorbo, approximately GH¢15 million was allocated to final-year students, while the remaining amount was given to continuing students.

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The SLTF aims to complete payments to all continuing students by December.

The fund also recouped GH¢13 million in August during its “repayment month,” where efforts were made to recover loans from debtors through media campaigns, employer engagements, and direct communication. The SLTF targets recovering GH¢80 million by the end of the year, with about GH¢54 million already collected.

Mr. Bayorbo emphasized the importance of loan repayment, noting that borrowers’ credit scores improve with timely payments, whereas non-repayment negatively affects creditworthiness. The SLTF has adopted the Ghana Card to track borrowers and has seen an increase in enrollment since the introduction of the “No Guarantor System.”

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Additionally, the SLTF has paid GH¢60 million in allowances to 67,000 teacher trainees, with an outstanding 1,500 trainees facing issues with their eZwich cards.

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