Ghana’s Students Loan Trust Fund threatens to publish names, pictures of defaulters after owing the fund more than GH¢75 million

More than 55,000 people have been noted to owe the Students Loan Trust Fund (SLTF) in Ghana about GH¢75 million.

Ghana’s Students Loan Trust Fund threatens to publish names, pictures of defaulters after owing the fund more than GH¢75 million

This means that the students have defaulted in the repayment of the loans they took to cushion their education.

Out of the number, about 35,000 have made some form of payment, leaving more than 20,000 who have not paid anything at all, after the two-year grace period for repayment elapsed.

The Chief Executive Officer (CEO) of the fund, Nana Kwaku Agyei Yeboah made the revelation while he spoke to Accra based Daily Graphic.

According to him, the recovery rate of the fund was currently 65%.

Data from the fund indicated that 35% (about 7,000) of borrowers who had not paid anything to the fund said they were unemployed.

But, Mr Yeboah said, “the payment of the loan is not contingent on being employed. Even for those who are not working, the amount used in buying airtime alone could be saved to defray part of the loan.”

The measure, according to him, was to improve inflow into the fund to satisfy the needs of the thousands of applicants expected this academic year.

Meanwhile, the fund has warned the borrowers that they will begin to publish the names and pictures of defaulters in the national dailies in the coming weeks.

Our newsletter gives you access to a curated selection of the most important stories daily.

Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more. Also join us across all of our other channels - we love to be connected!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Sadio Mane the odd one out as Bayern Munich stars take team photo with glasses of beer

Sadio Mane the odd one out as Bayern Munich stars take team photo with glasses of beer

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022