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Students Loan defaulters to face prosecution September next month

Students Loan Trust Fund to start prosecution of defaulters starting September next month

The management of Students Loan Trust Fund (SLTF) has communicated that from September this year, it will start the prosecution of persons who have defaulted in the repayment of their loans for over a 10 year period. Students Loan defaulters

The affected persons according to management will include all who have benefited from the loan but are yet to repay despite being gainfully employed now.

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The Chief Executive Officer of the SLTF, Nana Kwaku Agyei Yeboah, in an interview said the Trust was compelled to resort to legal action as several reminders to the affected persons (Students Loan defaulters) had been ignored and it was part of the efforts to meet its set recovery target of GH¢ 70 million, for this year.

From the Chief Executive Officer,  they have used many channels of communication to remind these affected persons on countless occasions hence they have simply ignored. He added that this month August will only be the grace period for them to do the needful before prosecution starts.

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“We consistently keep reminding people through their guarantors, text messages and other communication -emails, etc. as well as publish names and faces on our platforms and in the dailies.

“They have simply ignored all those and so we are resorting to the final action by sending the recalcitrant borrowers to court, prosecute them to get the money back.

“This month is the final grace period, if they still refuse to do the needful from all the reminders and prompts, September is prosecution time to recover the loans,” he emphasised.

He explained that prosecution would specifically target only those who had refused to make any efforts to have an agreed repayment plan, particularly, beneficiaries whose repayment period of 10 years had elapsed.

Source : Honestynewsgh.com

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