SLTF to prosecute loan defaulters in September 2022

The Students Loan Trust Fund(SLTF) has served notice that it will from September 2022, begin prosecuting persons who took loans but have defaulted in their repayment over a 10-year period.

In an interview with Dialy Graphic last Monday, the Chief Executive Officer, Nana Kwaku Agyei Yeboah said that his outfit has been compelled to take such an action since several reminders to the defaulters have proven futile and also ignored.

He added that the move is also a part of the Trust’s effort to meet its set recovery target of GhC70 million for 2022.

The month of August has thus been dubbed as the final grace period for such defaulters as the SLTF gears up for prosecutions in the event such persons fail to do the needful.

Mr. Yeboah further stated that prosecution is one of its measures per the SLTF Act, 820(2011) thus the move is in the right direction to sustain the scheme.

Clarifying the targets for the prosecution, he said that it would target those whose repayment period of 10 years had elapsed yet have not made any efforts to make a repayment plan with the Trust.

Additionally, the SLTF Boss mentioned that the Trust has declared August as a month of recovery in order to sensitive persons on the need to repay their loans and the effect of the repayments on the sustainability of the fund.