Are you a Ghanaian who is currently enrolled in a tertiary institution in the country and you find it difficult to fund your education? Have you heard of Student Loan Trust Fund before? If you haven’t heard of them and you find yourself in a position of need to fund your education, read this article.
In our society these days, we have brilliant students who managed to get into tertiary education yet don’t find the complete funding for their education. In this article, we will be talking about the Student Loan Trust Fund and how to apply for it.
Before any application, you need to be qualified for it. To be qualified means you must meet some requirements. These requirements clearly tell the funding body that, you indeed need the support
- School is a tertiary Institution accredited by Ghana National Accreditation Board
- Programs being offered are accredited by NAB
- The loan is for only Ghanaian citizens living and schooling in Ghana
- The only needy applicant will be considered
Before a successful application, applicants need to have someone of the status stated below to serve as a guarantor to them.
SNNIT Contributor Guarantor
The SSNIT contributor must be
- a Ghanaian
- an active contributor to the SSNIT pension scheme.
- have contributed to the SSNIT scheme for at least 36 months or 3 years.
- not be more than 53 years old.
- not have guaranteed for more than one (1) person already. (Parents can, however, guarantee for all their children)
- Must be a member of a recognized, national religious body.
- There must be evidence of the Institution’s decision to guarantee (Resolution).
Metropolitan, Municipal, and District Assemblies
- There must be evidence of Resolution by the Assembly to guarantee student loans.
- The resolution should indicate 2 authorized signatories.
- Signatories must include the Chief Executive.
- The company must be a member of Ghana club 100 and/or a company listed on the Ghana Stock at the time of guarantee.
- There must be a board resolution authorizing the guarantee.
- Two signatories are required and should at least be at the Senior Management position.
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 an SSNIT contributor, MMDA, Religious Body, or a Corporate Body.
- Please refer to the guarantor requirement for details.
- Two passport size photographs
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