All you need for a student loan now is a Ghana Card, no guarantor, funds are available for private & public school students – CEO of SLTF, Nuhu Bayorbo Mahama
The Chief Executive Officer of the Students Loans Trust Fund, Nuhu Bayorbo Mahama has reiterated that funds are now available for disbursement to public and private tertiary students in Ghana under the Ministry of Education.
The CEO speaking on Kessben Maakye with Akuoko Kwarteng stressed that the basic requirement for a Ghanaian student to apply for the Student Loans Trust Fund is a Ghana Card.
Years ago, the major requirement had been the guarantor system but it has now been scrapped making the loan application much more convenient.
He noted that the maximum of funds one can apply in a year is GHC3000.
According to him, disbursements are made based on the students who apply early subjected to verification from their various institutions.
He added that repayments of the loans start 2 years after a loanee completes school.
At the time of application of the loan and throughout the process, he stressed that there are no fees charged.
He emphasised that the loans attract an interest of 14% with their repayment which starts after 2 years but in the event that the loanee is ready to make a repayment before the 2 year’s grace period, the the repayment will not attract any interest.
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