The Chief Executive Officer of the Students Loan Trust Funds (SLTF), Nana Kwaku Adjei Yeboah, has declared students’ loans will grow from 10 % to 60% in the incoming university academic year if no guarantee policy is involved.
Presently, the loans trust funds only provide around 10 % of qualified students in the state or private tertiary facilities.
The CEO of the SLTF, Agyei Yeboah stated however that a poll undertaken by the fund showed more students would like to access the fund if securing guarantors for such loans become problematic.
According to him, 10 % of university students seek loans on average which makes it difficult for the present guaranteed scheme to apply for the loan.
“But in the preparation for the no guarantor policy, we did a survey and it shows that about 60 % of eligible students are likely to access the scheme, which is a huge jump from 10% to 60%” CEO, Agyei Yeboah furthered.
Mr. Agyei Yeboah again indicated that the organization had launched a retrieval campaign to address individuals who had accepted the loans but were not in the country including the establishment of venues for users to pay by credit card, master cards, or visa cards.
The CEO also explained that the Credit Reference Bureau (CRB) will indicate how worthy you are of a loan. Thus, failing to pay a loan will send your personal information to CRB. Therefore, going to any financial institute to access assistance will be denied due to failure to pay students loans.
Source: Mybrytfmonline.com/Ben-Dave A. Nana Osei-Bonsu
