Student Loan Trust Fund 2020
Important Notice // 2020 – 2021 Student Loan Trust Fund Application Has Not Yet Started Kindly Visit Page Regularly For Updates
Student Loan Trust Fund
Students Loan Trust Fund
Providing equal financing to tertiary education
About Student Loan Trust Fund
Mission and Vision
To provide TIMELY financial SERVICES to eligible Ghanaian tertiary students.
Inspiring and unleashing greater prospect.
Student Loan Trust Fund History
The Students Loan Trust Fund (SLTF) was established in December 2005 under the Trustee Incorporation Act 1962, Act 820.
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 28 and 38 of the 1992 Constitution.
For the purpose of achieving the objectives of the Trust Fund, monies from the Trust Fund shall be applied to the relevant activities that the Trustees of the Fund may determine, including, in particular
a. The provision of facilities to enhance the tertiary education to support students.
b. The provision of moneys to support any other activities and programmes for the promotion of relevant courses as determined by the Trustees, in consultation with the Minister.
The Students Loans Trust Fund is governed by a Board of Trustees that comprises of distinguished individuals of relevant backgrounds relevant to the business of SLTF. The members of the board are appointed by the President of the Republic. The day – to – day administration of the SLTF is headed by CEO, assisted by a team of dedicated professionals. The SLTF also has Campus offices in major institutions. The functions of these offices include:
a. Provide first stop for student inquiries.
b. Pickup and drop off points for Loan Application forms.
c. Loan Application verification for completeness of forms.
d. Liaise between the SLTF and the loan applicants.
e. Disseminate information to students in a timely manner.
The sources of loanable funds for SLTF include:
a. Monies paid into the Trust Fund representing up to ten percent of all the inflows into the Ghana Education Trust Fund.
b. Voluntary contributions which will be tax deductible.
c. Mobilization of resources from Ghana’s international partners interested in the advancement of tertiary education.
d. 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.
e. Loans from Social Security and National Insurance Trust.
Frequently Asked Questions AboutStudent Loan Trust Fund
These Frequently Asked Questions (FAQs) have been designed to help you better understand the Students Loan Trust Fund and its mission. They provide detailed information about the fund, eligibility and application requirements, loan disbursement, repayment and recoveries. They also help you understand the Students Loan Protection Scheme. (SLPS).
Please find below listed categories of the most frequently asked questions:
About the Students Loan Trust Fund (SLTF)
Q. What is the Students Loan Trust Fund?
The Students Loan Trust Fund is a public institution established under the Trustee Incorporation Act 1962, Act 106 to provide financial resources for the benefit of students and to promote and facilitate the national ideals as enshrined in Articles 25 and 38 of the 1992 Constitution. It is to replace the SSNIT Students Loan Scheme. The Students Loan Trust Fund Act 2011, Act 820 has been passed by Parliament.
Q. How do I get my complaints addressed and who do I channel my complaints to?
You can forward your complaints to our campus office. You can also send your complaints through the email email@example.com or call us on 0302231886/7
Qualification and Eligibility
Q. I am a tertiary level student. Do I qualify for a Loan?
You only qualify for a Loan if:
1. You are a Ghanaian
2. You have gained admission to study an accredited tertiary program in an accredited tertiary institution in Ghana.
3. You are pursuing an undergraduate tertiary program such as diploma or degree.
Q. I am pursuing a weekend or sandwich programme. Can I apply for a loan?
Students pursuing weekend and evening programmes are eligible to apply for the loan.
However, the current policy of the SLTF is that sandwich programme students are not eligible to apply for the loan.
Guarantors and Guarantor ship
Q. Do I need a guarantor and who can guarantee for me?
YES. You need a guarantor, who will back up the loan and assist the Trust Fund to trace you when repayment is due.
Guarantor will be required to pay back any outstanding loan due as a last resort, only when you cannot be traced to pay back.
The loan may be guaranteed by one of the following types of guarantors (SSNIT Contributor, Recognized Religious Body, Metropolitan, Municipal and District Assembly or a Corporate Body).
a. Must be a Ghanaian
b. Must be an active contributor to the SSNIT pension scheme
c. Must have contributed to the scheme for at least 36 months or 3 years
d. Must not be more than 53 years old.
e. Must not have guaranteed for more than two (2) people already.
(Parents can however, guarantee for all their children)
a. Must be a member of a nationally recognized religious body.
b. Must have been in existence for a minimum of 10 years evidenced by registration certificate from the Registrar General’s Department
c. There must be evidence of the institution’s decision to guarantee student loans (Resolution)
Metropolitan, Municipal and District Assemblies
a. There must be evidence of a Resolution by the Assembly to guarantee students loans.
b. The resolution should indicate 2 authorized signatories.
a. The company must be a member of the Ghana club 100 and/ or a company listed on the Ghana Stock Exchange and must be current.
b. There must be a board resolution authorizing the guarantee.
c. Two (2) signatories are required and should at least be at Senior Management position.
Q. Do I still need a guarantor if I contribute to SSNIT Pension Scheme?
Yes. A student worker who is a SSNIT contributor still needs a guarantor. Guaranteeing is a third party relationship and so you cannot guarantee for yourself.
Q. Can two applicants who are SSNIT contributors guarantee for each other?
No you cannot. Cross guaranteeing is not also allowed.
Q. How can I get a loan from SLTF?
You can get the loan by applying to SLTF. To apply follow these easy steps:
Step 1 Log on to the SLTF website www.sltf.gov.gh
Step 2 Follow link on website and apply for loan (You may save and continue with the application later if you do not complete at one sitting).
Step 3 Follow general instructions in filling out forms online
(Upload a passport picture online)
Step 4 Print out the summary pages of your Loan Application Form
Step 5 Print out and complete the Guarantor Deed and Students Loan
Agreement forms (Complete all forms in BLACK INK and BLOCK LETTERS only)
Step 6 Have your fingerprints (INDEX AND THUMB) and your guarantor’s
THUMB PRINT taken at any SSNIT branch office. You will be assisted by a SSNIT official. (Guarantor thumbprint applies to SSNIT guarantors only).
Step 7 Attach photocopies of the following:
i. Student ID card and Admission letter.
ii. SSNIT ID number or SSNIT reference number.
iii. e-zwich card (both sides).
Step 8 Submit 2 original copies of the duly completed forms and copies of the supporting documents to your respective SLTF Campus Office
Q. When can I apply for a loan?
Online applications are opened at the beginning of each academic year. Specific details would be communicated through your campus office.
Repayment and Recovery
Q. How can I repay my when if I have traveled abroad?
You can either ask a friend or family member to make payment on your behalf or send a money transfer to SLTF and we will receive it and credit your account. (NB. Please call us to check your current balance and exchange rate)
Q. If I do not have a job, would I still be required to start repaying my loan when repayment is due?
Yes. The condition for repayment is not dependant on whether you have a job or not but it is dependent on exhausting the two year grace period.
Q. How do I get my statement?
You can check your statement online (www.sltf.gov.gh) with your Social Security Number. We will also send you statements through your email, once a year.
Q. How can I repay my Loan?
You can repay your loan through the following options
1. Cash or Cheque repayment (Outright or by instalment) at SLTF Head Office
2. Cheque repayment at SLTF Zonal Offices
3. Mandated monthly deduction from the borrower’s salary by employer.
4. You can also make payment at any branch of the following partner banks quoting clearly you SOCIAL SECURITY NUMBERS:
a. ECOBANK GHANA LIMITED (EBG) THROUGH E-COLLECT
b. GHANA COMMERCIAL BANK (GCB) THROUGH SMARTPAY
c. NATIONAL INVESTMENT BANK (NIB) WITH A CUSTOMISED SLTF PAY-IN SLIP
Q. Can I start repaying my loan whiles in school?
Yes you can. That way you will reduce the interest charges on your loan.
Q. What happens if I do not complete my course of study for which I took the loan?
You will have to repay the entire amount disbursed to you within one year.
Terms and Conditions ( “Please refer to section 5 of the Students Loan Agreement Form page attached to the Loan Application Form )
About the Students Loan Protection Scheme (SLPS)
Q. What is the SLPS?
The SLPS is the Students Loan Protection Scheme and it is an initiative of the SLTF has instituted to absorb the financial burden on guarantors and families that will result from default in loan repayments caused by death or permanent disability of borrowers.
Q. How much do I pay for protection?
You will be required to contribute 0.5% of your loan to the Students Loan Protection Scheme. This contribution would be in the form of a deduction at source during per each disbursement.
Q. Why do I pay for protection?
This will absorb your guarantor from any liable in case of death or permanent incapacitation.
The Students Loan Trust Fund, hereafter referred to as ‘SLTF’ is an agency under the Ministry of Education; established in 2005 and operates under SLTF’s Act 2011, of Act 820. Our core mandate is to provide financial resources to needy students pursuing accredited progammes of study at both private and public accredited tertiary institutions as enshrined in Articles 25 and 38 of the 1992 Constitution of Ghana.
It also spells out what SLTF would or will not do with the information of the above-mentioned persons hereafter referred to as “data subjects”, as well as the guarantee to protect the confidentiality of the personal data of same.
This is to ultimately fulfil a legal requirement to effectively safeguard the personal data rights, otherwise called privacy rights of data subjects as stipulated in the Data Protection Law 2012 (Act 843), of Ghana. In effect, it gives free will to the data subjects to either agree or disagree with SLTF’s corporate principles in relation to the above.
You must stop whatever process immediately with SLTF. A data subject has the choice or free will to opt out even in the middle of any transaction if they so desire.
What Types of Personal Data Do We Collect?
Examples of such Personal Data you may provide to us include (depending on the nature of your interaction with us) your name, date of birth, passport photo, Social Security and National Insurance Trust (SSNIT) Number, E-zwich Number, passport or other identification number, gender, marital status, orphanage status, telephone number(s), mailing address, email address(es), residential address, disability information, salary information, bank account details, educational history information, employment history information, household details (such as dependants, assets etc) and any other information relating to any individuals which you have provided us in any forms you may have submitted to us, or via other means of interaction with you.
We may supplement the Personal Information you submit to us with information from third-party sources such as SSNIT, Ghana Interbank Payment and Settlement Systems (GhIPSS), Credit Reference Bureaus, Partner Banks etc to validate some of the personal data you provided as well as debt collection.
The Personal Data we collect can be either obligatory or voluntary. Obligatory Personal Data are those that we require in order to provide you with our products and services.
If you do not provide us with the requisite obligatory Personal Data such as date of birth; email address; Telephone No. etc., we would not be able to provide you with our products and services.
Voluntary (Optional) Personal Data such as middle names are not mandatory in order for us to provide you with our products and services. If you do not provide us with such voluntary Personal Data, you can still sign up for our products and services. Obligatory and Voluntary Personal Data differ for each products and services and will be indicated in the loan application forms.
You have the choice, at any time, not to provide your Personal Data or to withdraw your consent to the Trust Fund processing your Personal Data. However, do note that, failure to provide such Personal Data or a withdrawal of your consent for us to process your Personal Data may result in the Trust Fund being unable to provide you with effective and continuous products and services.
If you should withdraw your consent to the processing or handling of your Personal Data in respect of any purpose which we may reasonably consider to be essential in order for us to provide you with the products and/or services requested or applied for, we may not be in a position to continue to provide our products or services to you or administer any contractual relationship which may be in place between us.
Furthermore, we shall be entitled to treat such withdrawal as your termination of any account or agreement which you may have with us, without prejudice to any rights and remedies which we may have at law against you.
Notwithstanding the generality of the foregoing and for avoidance of doubt, upon the termination or expiry of your contractual relationship with us (howsoever caused), we may still continue using or disclosing your personal data as may be necessary, required, authorized or permitted for compliance with applicable law or as may be requested by the relevant regulatory bodies, government agencies, statutory boards, administrative bodies, authorities or law enforcement agencies to comply with any laws, rules, guidelines and regulations or schemes to which we may be subject, whether situated locally or overseas. Read More
Student Loan Trust Fund Loan Process
Student Loan Trust Fund Loan Repayment
In other to maintain the value of the money and preserve the Fund for posterity, interest is charged on the loan at a highly subsided rate. Inflation is an important factor in determining the interest rate.
The following schedule of interest rate shall be charged on the loan:
|STUDYPERIOD||NATIONAL SERVICE PERIOD||1-YEAR GRACE PERIOD||REPAYMENTPERIOD|
|*GOG182 dayT-bill rate||*GOG182 dayT-bill rate||*GOG182 day T-bill rate||*GOG182 dayT-bill rate + 2%|
* GOG – Government of Ghana.
# Maximum rate applied will be 12% until reviewed. In effect where the T-bill rate goes beyond 12% the SLTF shall fix the rate at 12%.
Loan Repayment Period
|*Number of Loans taken||National Service Period (Yrs)||Grace Period (Yrs)||Repayment Period (Yrs)|
* The total loan received in an academic year is considered as one loan taken
It is in the interest of applicants to pay off their loan sooner than the repayment period given, in order to reduce the interest charges.
Students loan repayment made easy. Please contact our partner banks with your Social Security number to make payments:
A. GHANA COMMERCIAL BANK: SMART PAY
B. NATIONAL INVESTMENT BANK: SPECIAL SLTF PAY IN SLIP
C. ECOBANK GHANA: BANK – COLLECT
Borrowers can walk in to 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.
Student Loan Trust Fund Loan Contact Details
Zonal Office Telephone Numbers
Below are the contact numbers of all our zonal offices in case you need to contact SLTF. The Loan Relationship Officer supervises the activities of the Loan Officers on the various campuses.
|Zone||Fixed Line||Cell phone|
|Central University College||0302 923948||020-2097484|
|Koforidua||03420 26985||023-4753308 / 0501340515|
|Takoradi Poly||03120 26910||057-3479593 / 0501340514|
|Winneba||03321 94145||020-2097485 / 0501340512|
|Cape Coast||0332 136754||050-1340513|
|Sunyani Poly||03520 26676||020-2097483 / 0501340518|
|KNUST||03220 64308||020-2097482 / 0501340516|
|Kumasi Poly||03220 49824||026-4070060 / 0501340517|
|Wa||03920 21235||054-6369473 / 0501340520|
|Head Office -Client Service Advisory||0302 231886/7||026-4043072|
|Accra Polytechnic||Accra Poly||Former Rector’s|
|UG City Campus||SRC Office|
|Aucc||Main Admin Block|
|Zenith College||SRC Office|
|Kumasi Polytechnic||Kumasi Polytechnic||Old Library (Entrepreneurship and Finance Department)|
|UEW (Mampong)||Campus Security Block|
|UEW (Kumasi)||NUGS Office (SRC Block)|
|Christian Service University College||SRC Office (SRC)|
|Sunyani Polytechnic||Sunyani Poly||Accountancy Department Block D|
|University of Energy and Natural Resources||SRC Office (SRC Block)|
|Catholic University College, Fiapre||SRC Office|
|Valley View University, Techiman||SRC Office|
|Methodist University College|
|Koforidua||Koforidua Polytechnic||Room C108-Ground Floor of the Computer Science Building|
|All Nations University||Sky Room 5.3 (BASA & Alumni office)|
|Presbyterian University College- Abetifi Okwahu||Canteen Block at Main Campus|
|Ho||Ho Polytechnic||Reading Room/GCB And Zenith Bank Building|
|KNUST||KNUST||Graduate Students Association of Ghana (GRASAG) Building|
|Garden City University College||SRC Office on the main admin block/A help desk at the main entrance|
|University of Management Studies||SRC Office|
|Spiritan University||SRC Office|
|Tamale||UDS – Navrongo||Savannah Annex|
|UDS – Tamale Campus||ICT Block Ground Room 8|
|UDS – Nyankpala||SRC Office Block|
|Bolgatanga Polytechnic||Central Administration Block Room|
|Tamale Polytechnic||ICT Block First Floor Room 9|
|Central University||Central University (Mataheko)||Annex A Frank Roberts, Mataheko – Accra|
|Central University (Miotso – Prampram)||Dean Of Students Office|
|Advance Business College||Reception, North Kaneshie|
|Datalink University College||SRC office Tema Com 10|
|Jayee University College||E-resource Centre (Library)|
|Kings University College||Registry|
|Meridian University College||Computer Lab|
|Methodist University College, Dansoman||2nd Floor, Administration Block|
|Methodist University College, Tema||Library|
|Narh Bita School of Nursing||Academic Office, Tema Com 5|
|Pentecost University College & Maranatha University College||Sowutuom – Accra|
|Regent University College||Academic Office, City Campus- Accra|
|Regional Maritime University||Registry|
|School of Allied Health Sciences||Basic Science Building – Reception, Korle Bu|
|University College Of Management Studies||In front of the Cash Office|
|University Of Ghana Medical School||Basic Science Building Reception, Korle Bu|
|West End University College||Library|
|UPS||University of Professional Studies||UPSA AB9 Office|
|Valley View University||SRC Office|
|Islamic University||SRC Office|
|University of Education-Winneba||University of Education -Winneba||University Hall Annex, North campus|
|University of Education -Winneba||NUGS office, South campus|
|Takoradi Polytechnic||Takoradi Poly Main Campus.||Mechanical Engineering Dept. Room 11|
|University Of Mines And Technology||The SRC Presidents Office, Near The Chamber Of Mines Hall|
|University of Ghana||University of Ghana||SRC Office|
|GIMPA||Students Affairs Office|
|University of Cape Coast||UCC||Old Education behind the Assembly block (old site)|
|Cape Coast Poly||Admin Building|
|Wa||Wa Polytechnic||Admin Building|
|UDS Old Campus||Admin Building|