Students Loan Trust Fund in Financing Higher Education

Discover how the Students Loan Trust Fund (SLTF) is empowering Ghanaian students to access tertiary education through affordable loans and innovative funding mechanisms.Students Loan Trust Fund

Students Loan Trust Fund

The Students Loan Trust Fund (SLTF), a government agency founded in 2005, provides financial assistance to Ghanaian students pursuing higher education.


The SLTF is the primary provider of student loans in Ghana. It also has significantly increased the number of students who can access higher education nationwide.

We shall examine the numerous facets of the Students Loan Trust Fund in this post and how it aids Ghanaian students in pursuing their academic goals.


Students Loan Trust Fund Loan Application Requirements

To successfully apply for the loan, a candidate must have the following before applying. The application won’t be accepted until these are given.

1. You must be a Ghanaian and admitted to enroll in an accredited tertiary program in Ghana.

2. Also, you must be in tertiary programs leading to a diploma or first degree and have an admissions letter or student ID card.

3. In addition, a valid Ghana Card Number is required (which can be acquired at designated GRA offices for free).


4. Finally, you must own an E-zwich Card, a working email address, and an active registered mobile phone number (you can get it at any bank)

Loan Disbursement

The SLTF disburses loans directly to the student’s institution. The money is used to cover tuition costs as well as additional educational expenses like housing, books, and other living costs.

With a maximum repayment length of 10 years, the loan repayment period starts six months after the student has finished their education.

Loan Repayment

Once disbursed, a loan from the Students Loan Trust Fund (SLTF) must be fully repaid. Six (6) months after you graduate from school or get employment.

Also, you must begin making loan payments. The normal ten (10) year loan repayment period can be extended if necessary. The repayment program is as follows:

Monthly Payment

The loan’s size, interest rate, and time of repayment all affect the monthly payment amount. Monthly installments are required.

The repayment amount is often decided based on your earnings and other financial obligations.

Interest Rate

In comparison to other Ghanaian financial institutions, the SLTF levies comparatively low-interest rates on its loans.

Depending on the state of the economy, the interest rate fluctuates between 10% and 12% and is often in this range.


They will add a 5% yearly penalty fee to the outstanding debt if you fail to make timely loan installment payments each month.

Early Repayment

Lastly, you won’t be punished if you pay back your loan before the agreed-upon due date you can. In fact, you might be qualified for a lower interest rate.

The Students Loan Trust Fund’s loan payback schedule is broken down in the following table:

Repayment period Monthly repayment amount
1-5 years GHC 50 – GHC 500
6-10 years GHC 100 – GHC 1,000


Funding Methods

The Students Loan Trust Fund makes use of cutting-edge finance strategies to guarantee the viability of its loan program.

Among these is a 2.5% contribution from social security contributions made by employees. Also, a 10% withholding tax on the interest accrued by commercial banks. And also contributions from charitable groups and private citizens.

What are the Benefits of the Students Loan Trust Fund?

Students who take out loans from the SLTF are qualified for a variety of benefits, including;

Decreases in Interest Rates

SLTF loans have interest rates that are less expensive for students to afford than those of commercial loans.

Flexible Repayment Terms

Various repayment options are provided by the SLTF, taking into account each student’s individual financial situation.

You can avoid forcing students to make repayments that you know they can’t afford by doing this.


Lastly, by promptly paying back your SLTF loan, you build a credit history that may one day make it easier for you to obtain credit.

Impact on Education in Ghana

The Students Loan Trust Fund has significantly improved access to postsecondary education in Ghana and it has lessened the financial burden on students and their families.

Almost 400,000 students in Ghana have received loans from the SLTF totaling over GH1 billion since it was established. This has also helped to create a trained workforce and a society that is more prosperous.

The educational dreams of many Ghanaian youngsters have come true. Thanks to the crucial organization known as the Students Loan Trust Fund.

The SLTF is empowering Ghana’s youth and promoting the social and economic development of the country. It does this by offering reasonable loans, flexible payback schedules, and creative funding sources.


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