Students Loan Trust Fund publishes names and pictures of defaulters

Students Loan Trust Fund publishes names and pictures of defaulters
Source: Ghana | Myjoyonline.com
Date: 21-11-2019 Time: 06:11:30:pm

The Students Loan Trust Fund (SLTF) says it has published the first batch of names and photographs of some defaulting borrowers in the ‘Daily Graphic’ newspaper.

The move follows an earlier publication warning defaulters to repay their loans or contact the Fund to agree on payment terms.

The Head of Public Relations at the SLTF, George Ferguson Laing, said that the publication of names and pictures is in accordance with the Students Loan Trust Fund Act, 2011, Act 820 Section 26 (1-7).

“In the coming days and weeks, we will be publishing more names and pictures, after which we will start prosecuting defaulters,” he said.

Students Loan Trust

According to the Recovery Manager of the Fund,  Mr. Justice Wiafe Sarkodie, when borrowers refuse to repay loans, the sustainability of the Fund is threatened, hence the decision of Management of the Fund to aggressively pursue defaulters.

He appealed to borrowers to pay up so that other citizens can also benefit from the assistance.

Data from the SLTF reveals that some 55,000 borrowers are currently expected to be repaying their loans, 35,000 of whom are doing so, with 20,000 not paying.