How to Apply for Student Loan Trust Fund Online in Ghana

Being in the tertiary school and not able to afford all the necessary logistics sometimes brings frustration and anxiety in the eyes of every student.

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There are instances where brighter students have to quit the University study because they can’t afford to pay their school or hostel fees.

Others also have to results in doing some diety works before they can have money to continue their studies at the university.

If you are in this situation, then the student trust fund loan is here to save you. In this article, we are going to see the easiest and simple way to apply for the Student Loan Trust Fund Online in Ghana.

Table of Contents

What’s a student loan trust fund?

The SLTF is a scheme that is an initiative by the Government of Ghana to provide timely financial assistance to eligible Ghanaian Students.

An eligible student can apply for a loan ranging from a GHS 1,000 to GHS 4,000 to cover their expenses during their study at the university.

The student’s trust fund loan can be used to settle school fees, books, and boarding fees, and other expenses related to the academic studies of the student.

Must Requirements to SLTF.

There are some requirements that each and every student who wants to apply for the loan has to meet. these include:

Your school must be an accredited tertiary institution.
Programme being offered must also be accredited by the National Accreditation Board.
Must be a Ghanaian living and schooling in Ghana
Must show proof of being in need.

Other application requirements.

Prospective applicants must provide

Telephone number of both the applicant and guarantor
An E-zwich account that should be linked to your Bank account in the same bank
Social Security Number
Should be a registered student of his /her institution
Two passport size photographs

Who can Be a Guarantor?

As part of the requirement, a prospective applicant for the student loan must also provide a guarantor before his or her application can be approved.

Below are some of the persons/agency that qualified to be a guarantor for the student loan:

SSNIT Contributor
A Corporate body
Nationally Recognized Religious Body
Metropolitan, Municipal, and District Assembly

For more information about the guarantor, requirements visit here

How to Apply for the Student Trust Fund Loan

There are two ways one can apply for the loan, manual and online. we shall cover the two ways here.

Manual Application

To apply for the loan the manual way, you first have to take the loan application form from your university’s Local NUGS office.

Once you get the form, you have to fill in all the details and attach your passport size photographs

Now the final steps are to Submit the filled form to your school’s Local NUGS President or to any Student Loan Trust Fund office located around you.

How to Apply Online

To apply for the student trust loan online, you have to visit the online application platform through this link you’ll be taken to the sltf online application portal

Once you are on the portal, you will have to create an account as a new user.

Creating an account on the platform is easy and simple. All you’ll need is an Email Address, Social Security Number (SSN), Mobile Phone Number and good Password.

Follow the self-explanatory steps on the account creation page and finished your application.

When will one receive the loan after application

After successfully applying for the STFL, it takes approximately 2 weeks for the loan amount to hit your account.

This is however on condition that the loan application form has been properly completed and all relevant supporting documents attached to the application.

The Operations department has established a fast track loan processing machinery that ensures that students receive their loans in a good time.

How to repay student loans in Ghana.

As a beneficiary of the student loan trust fund, you are required to repay the loan over a period of time(installment) or onetime(clear all the loan at once) after your mandatory National Service.

Repayment of the loan can be made using the below modes of payments:

Periodic deductions from the beneficiary’s salary by his or her employer
Direct periodic payments at a designated bank
Full one-time payment of total loan amount plus due interest.

You can visit the official page for the SLTF for more information on acquiring, disbursing, and repayment of student loans in Ghana.