Steps to repay your student loan with ease.
Are you planning of repaying your student loan trust fund soon? I’ll recommend you pay it earlier before the given period to avoid accumulation of interest.
The student Loan trust is disbursed to Ghanaian students studying accredited undergraduate programmes in accredited universities in Ghana.
The loan is paid to beneficiaries each semester during their stay in school. Beneficiaries are entitled to a maximum of GHC 3000.
This article contains all the details of how to repay your student loan trust fund easier.
In order to maintain the value of the money and preserve the fund for posterity, an interest is charged on the loan at a highly subsided rate.
The maximum rate that applied will be 12%. A total loan received in an academic year is considered as one loan taken.
In order to reduce the interest charges, it is advisable to pay off your loan sooner than repayment period given.
Where to repay your student loan trust fund.
Contact the following partnering banks to repay your loan. Your Social Security number is needed to facilitate the process.
- Ghana Commercial Bank: Smart Pay
- National Investment Bank (NIB): Special Student Loan Trust Fund pay in slip
- Ecobank Ghana: Bank – Collect
Apart from the methods stated above there are new and more convenient ways to make payment as well.
How to pay the student loan trust fund using Mobile Money.
Follow the simple steps below.
Dial *737*206# and follow prompts to make payment.
You can also utilize the services of MYGHPAY to repay your loan. See how.
- Visit myghpay.com or download the myghpay app on Google Play Store.
- Register and Login
- Click on SLTF Logo
- Follow the onscreen prompts to make payment. You can opt between Visa Card, MasterCard or Mobile Money
Finally, you can also make payment at any GT BANK branch nationwide using their customized pay-in slip.
For more information visit the student loan trust fund website à https://www.sltf.gov.gh
Thanks for reading this article. If you have any difficulty in repaying your student loan, write your problem in the comment section. I’ll attend to you in due time.