Student Loan Trust publishes over 31,000 names of defaulters

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The Student Loan Trust Fund (STLF) has published the names of 31,223 persons who took loans from it but have defaulted in paying back.

Some of the names published on its website are said to have defaulted for close to ten years.

The Trust is also threatening to publish the names in the national dailies if such persons refuse to make payments.

According to the Fund, the names published on the website are “borrowers [who] are in default of their monthly installments or have not started repayment of their loans.”

A brief statement on the website urged the loan defaulters to endeavor to pay back the loans.

“We are therefore asking the under-listed borrowers to repay the loan in order for others to access the fund. The Trust Fund will publish the names of these defaulters and their respective amounts in the National dailies if they fail to repay their loans on time.”

Financial support

SLTF is a fund established by law to provide financial support to tertiary students. After completing their courses of study, beneficiary students are given a two-year grace period to start repayment.

GHc78 million

Managers of the SLTF had earlier lamented that the fund is owed close to GHc78 million. They have said the continued operation of the fund could be jeopardized if borrowers failed to repay their loans.

Board Chairman of the SLTF, Mr. Andy Osei Okrah, had in an earlier interview they have taken measures to retrieve the monies with an educational programme targeted at employers, the beneficiaries, and their guarantors.

“We are trying to identify establishments where beneficiaries are working to advise the employers on the need to deduct the repayments from the salaries of the beneficiary workers,” he said.

 

Source: citifmonline.com

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