Student Loan Trust Fund (SLTF) was established in December 2005 under the Trustee Incorporation Act 1962, Act 106. The objectives of the Trust Fund are to provide financial resources for the sound management of the Trust for the benefit of students and to help promote and facilitate the national ideals enshrined in Article 25 and 38 of the 1992 Constitution.
In this post, We will look at the required detail to apply for student loan. This institution has the mission to provide timely financial services to eligible Ghanaian tertiary students and vision is inspiring and unlashing greater prospect.
REQUIRED DETAILS TO APPLY FOR STUDENT LOAN
All applicants must posses the following to be able to acquire the loan.
HOW TO APPLY FOR STUDENT LOAN
- Visit the STFL Website with your internet enabled device.
- On the right side of the website’s page, click on the “APPLY NOW” icon leading to the application page.
- On the application page, fill the form as instructed.
- After filling the online application form, print the application form.
- Complete the Guarantor Deed and student’s loan.
- Complete the agreement forms. NOTE: the forms should only be filled using a BLACK PEN and be filled in BLOCK LETTERS.
- At the SSNIT office your guarantor and your guarantor fingerprint will be captured.
- Photocopies of your student ID, SSNIT ID or reference number and the e-zwich cards will be needed.
- Submit two copied of the application forms at your specific SLTF campus office.
STUDENT LOAN TRUST FUND REPAYMENT
Students loan repayment made easy. Visit any branch of the banks below and may the payment
- GHANA COMMERCIAL BANK: SMART PAY
- NATIONAL INVESTMENT BANK: SPECIAL SLTF PAY IN SLIP
- ECOBANK GHANA: BANK – COLLECT
- GT COLLECT: CUSTOMIZED PAY IN SLIP
Borrowers can walk into the head office of the SLTF to make payment at no. 47, 3rd Crescent Avenue Asylum Down, near Highgate Hotel.
Borrowers can now make their Students Loan payment by any of the following modes/platforms quoting clearly your Social Security Number (SSN):
- MOBILE MONEY: by dialing Short code *737*206# follow prompts to make payment
- MYGHPAY: by visiting the website:
- www.myghpay.com or download the myghpay app on Google Play Store
- Register/login click on SLTF Logo
- follow onscreen prompts to make payment with either your Visa, MasterCard (OR) Mobile Money.
- GT COLLECT: Make payment at any GT Bank branch across the country, using customised pay-in slip.
EMPLOYER’S PAYMENT MODE
The section 24 of the Students Loan Trust Fund Act, 2011 act 820 enjoins employers to ascertain from employees who are beneficiaries of student loans about their status and report those who have not fully repaid their loans to the SLTF.
Employers are further mandated to withhold monthly instalments from the salary of employees and remit same to the SLTF within fifteen (15) days after deduction. Deductions withheld can be paid at the Head office of the SLTF at no. 47, 3rd Crescent Avenue Asylum Down, near Highgate Hotel or into A/C below:
Bank: Ghana Commercial Bank (GCB)
Branch: High Street
Account name: Students Loan Trust Recovery
Account number: 1011130036815
All employers are to note that failure to deduct and remit same to the SLTF constitutes an offense under section 37 of the SLTF Act.
All employers are to note the provisions of the law and act accordingly to help sustain the scheme.