Is The Students Loan Trust Fund Really Serving Its Purpose?

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 28 and 38 of the 1992 Constitution.

The multimillion question is, has this objectives been met? Personally, I do not think so. This loan I believe is meant to provide financial aid to students. If the loan is not paid earlier enough for us to really benefit from it, then what is the need to take it? Students need the money to purchase books, feed and even pay their fees but this loan is normally disbursed about a month to vacation. That time is when the students have already endured the hardships. The loan must be disbursed as early as possible to help ease the financial burden on campus but not to be enjoyed at home. Let us not forget that the money is not an allowance but a loan which is to be paid on compound interest basis.

The argument advanced so far indicates that students are not really benefitting from the loan because it is not disbursed on time. I therefore urge the government and the management of the Trust fund to take urgent and drastic steps to resolve this sensitive issue.

Isaac Owusu                    ikepa2006@yahoo. com


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