Questions and Answers About Students Loan in Ghana

Questions and Answers About Students Loan in Ghana

Questions and Answers About Students Loan in Ghana. The Students Loan Trust Fund (SLTF) was established in December 2005 under the Trustee Incorporation Act 1962, Act 106. The objectives of the Trust Fund are to provide financial resources for the sound management of the Trust for the benefit of students and to help promote and facilitate the national ideals enshrined in Article 25 and 38 of the 1992 Constitution.

FAQ about the students’ loan application in Ghana

What are the requirements for applying for a student loan in Ghana?


You only qualify for a Loan if:

1. You are a Ghanaian
2. You have gained admission to study an accredited tertiary program in an accredited tertiary institution in Ghana.
3. You are pursuing an undergraduate tertiary program such as a diploma or degree.

Can I apply for a loan if I am pursuing a weekend or sandwich programme?


Students pursuing weekend and evening programmes are eligible to apply for the loan.
However, the current policy of the SLTF is that sandwich programme students are not eligible to apply for the loan

Do I need a guarantor when applying for a students loan in Ghana?

YES. You need a guarantor, who will back up the loan and assist the Trust Fund to trace you when repayment is due. A guarantor will be required to pay back any outstanding loan due as a last resort, only when you cannot be traced to pay back. The loan may be guaranteed by one of the following types of guarantors (SSNIT Contributor, Recognized Religious Body, Metropolitan, Municipal and District Assembly or a Corporate.

Who is a qualified guarantor for my students loan application in Ghana?

SSNIT contributor

  • Must be a Ghanaian
  • Must be an active contributor to the SSNIT pension scheme
  • Must have contributed to the scheme for at least 36 months or 3 years
  • Must not be more than 53 years old.
  • Must not have guaranteed for more than two (2) people already.

(Parents can however, guarantee for all their children)

Religious Bodies

  • Must be a member of a nationally recognized religious body.
  • Must have been in existence for a minimum of 10 years evidenced by a registration certificate from the Registrar General’s Department
  • There must be evidence of the institution’s decision to guarantee student loans (Resolution)

Metropolitan, Municipal and District Assemblies

  • There must be evidence of a Resolution by the Assembly to guarantee students loans.
  • The resolution should indicate 2 authorized signatories.

Corporate Bodies

  • The company must be a member of the Ghana club 100 and/ or a company listed on the Ghana Stock Exchange and must be current.
  • There must be a board resolution authorizing the guarantee.
  • Two (2) signatories are required and should at least be in a Senior Management position.

Also, Check Students Loan Requirements and Application Process

Do I still need a guarantor if I am already a SSNIT Contributor? 

Yes. A student worker who is a SSNIT contributor still needs a guarantor. Guaranteeing is a third-party relationship and so you cannot guarantee for yourself.

Can two applicants who are SSNIT contributors guarantee for each other?

No, you cannot. Cross guaranteeing is not also allowed.

How can I get a loan from the Students Loan Trust Fund (SLTF)?

You can get the loan by applying on the online portal. To apply follow these easy steps

When can I apply for a students loan?

Online applications are opened at the beginning of each academic year. Specific details would be communicated through your campus office.

How can I repay my student loan?

Borrowers can now make their Students Loan payment by any of the following modes/platforms quoting clearly your Social Security Number (SSN):

1. MOBILE MONEY: by dialling Shortcode *737*206# => follow prompts to make payment.

2. MYGHPAY: by visiting the website: or download the myghpay app on Google Play Store
=>Register/login => click on SLTF Logo => follow onscreen prompts to make payment with either your Visa, MasterCard (OR) Mobile Money

3. GT COLLECT: Make payment at ANY GT Bank branch across the country, using a customised pay-in-slip.

How long will it take to get my money after applying for a students loan in Ghana?

Applicants for loans from the Students Loan Trust Fund (SLTF) should expect their loans within two weeks of submission of the completed application form.

Also, Check Ghana Card Registration & Replacement Questions & Answers

Can I start repaying my loan whiles in school?

Yes, you can. That way you will reduce the interest charges on your loan.


Click the link to join our telegram channel for timely updates

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.