Student Loan Trust Fund Opens Portal for Application

The student loan trust fund which was established in 2005 under the Trustee Incorporation Act 1962, Act 106 which was implemented to provide timely financial service to eligible Ghanaian tertiary students and also  Inspire and unleash greater prospect has opened their registration portal On January 10th, to enable students to apply for the Student Loan through their portal. It is to replace the SSNIT Students Loan Scheme. The Students Loan Trust Fund Act 2011, Act 820 has been passed by Parliament.

SOURCE OF FUND

•  The Monies paid into the Trust Fund representing up to ten percent of all the inflows into the Ghana Education Trust Fund.
•  Voluntary contributions which will be tax deductible.
• Mobilization of resources from Ghana’s international partners interested in the advancement of tertiary education.
•  Contributions from the corporate sector that shall be tax deductible up to the equivalent of 0.5% of the company’s actual profit before tax.
• Loans from Social Security and National Insurance Trust.

THE CEO

Nana Kwaku Agyei Yeboah is the Chief Executive Officer (CEO) of the Students Loan Trust Fund (SLTF). He holds a double Master’s degree in Social Work Administration and Education from Universities’ of Connecticut, USA and Cambridge College, Springfield, Massachusetts, USA, respectively; and is an Alumnus of the University of Ghana, Legon. Nana Yeboah also holds an advanced Paralegal Certificate from Elms College, Chicopee, Massachusetts, USA.

REQUIREMENT:

1. You must be a Ghanaian and have been offered admission to study an accredited tertiary program in Ghana.
2. You must be pursuing tertiary programme such as a diploma or 1st degree and have a Student ID card or admission letter.
3. You must have a valid Ghana Card Number (can be acquired at designated GRA offices for free).
4. You must have an active registered Mobile Phone Number, a valid Email Address and an E-zwich Card (can be obtained at any bank)

MODE OF REPAYMENT 

• Periodic deductions from beneficiary’s salary by his or her employer.
• Direct periodic payments to the SLTF by beneficiaries who are not employees of any organization (i.e. sole proprietorship, self employed etc.)
• Outright payment of total loan amount plus interest due.

STEPS TO APPLY 

• Visit: www.sltf.gov.gh
• Choose Loans
• Choose Apply Now
• Create an Account
• Click on the Signup button
• You may read the legal notice and click on Agree, that is if you agree.
• Fill in the required information and click on Next
• On user account info. page, tick the box “I agree to terms of service”(ie., if you agree to the terms of service) and click on Create Account button
• Once you create your account successfully, you will receive an activation code on your phone number or email. Input the code you received in the textbox and click on Activate Account button.
  NB:
  1. If for any reason you did not receive your activation code after 24hours, kindly contact the nearest Students Loan office for assistance.
  2. Note that any activation code sent to you expires after 48hours.
  3. Also make sure you enter your correct active phone number and email address should be in small letters to receive the activation code.

To complete the whole application process you need to;

1. Upload all required and relevant supporting documents.
2. Confirm your application details.
3. Download and Upload all Agreement documents requested by the application.
4. Take your biometric finger print at the nearest zonal or campus offices.

You will be contacted via email when your application is duely. That’s all you need to do!