How To Apply For Student Loan In Ghana 2021
Are you looking for a way to apply for a student loan in Ghana as a student from either Student Loan Trust Fund or any other loan granting agency?
Then, this article has more to educate you about how to apply for a student loan in Ghana for 2021.
If you’re a student from Ghana and in need of money to finance your educational needs, then you can apply for student loan online in Ghana via the internet.
This article has been prepared for you as a student on How To Apply For Student Loan In Ghana 2021 from Latest Ghana.
What is Student Loan?
A student loan is a type of loan designed to help students pay for tertiary education and the associated fees, such as tuition, books and supplies, and living expenses.
Brief History of Student Loan
In Ghana, student loans were first introduced in 1971, but the scheme was abandoned the following year, due to a change of government. A revised scheme was introduced in 1975, but faced problems of high rates of default.
Attempts to improve recovery since 1986 have had some success, but in 1989 the Government of Ghana introduced a new student loan scheme, which is administered by the Social Security and National Insurance Trust.
Things needed before you apply for student loan?
Before a student can apply for SSNIT/Student loan that person must gained an admission into any recognize university in Ghana being it private or public.
Before an applicant applies for the loan he/she will require the following in order to successfully apply. Until these are provided the application will not be successful.
- Telephone number of both 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 school
- Must have one personal guarantor who should either be a SSNIT contributor, MMDA, Religious Body or a Corporate Body. Please refer to guarantor requirement for details.
- Two passport size photographs.
How to apply for student loan
Go to the Social Security and National Insurance Trust (SSNIT) offices for your loan application form or you can equally download the student loan application form from student loan website – sltf.gov.gh
Fill the forms and together with your guarantor go to the nearest SSNIToffice for SSNIT officials to authenticate your guarantor requirement and endorses him or her afterwards.
Finally, submit the completed forms together with the photocopy of your E-zwich card and two passport size photographs attach to any Student Loan Trust Fund office nears you.
According to the Student Loan Trust Fund the waiting period to receive your student loan amount is two weeks.
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