More than 55,000 people owe the Students Loan Trust Fund (SLTF) GH¢75 million, representing default in the repayment of the loans students took to cushion them while in school.
Out of the number, about 35,000 have made some form of payment, leaving more than 20,000 who have not paid anything at all, after the two-year grace period for repayment elapsed.
The debt standing in the names of those who have not paid anything at all stands at GH¢35 million.
With some of the debts dating as far back as 2012 from the first batch of beneficiaries who took the loan in 2006, the fund managers have warned the borrowers that they will begin to publish the names and pictures of the defaulters in the national dailies in the coming weeks.
The measure, according to the Chief Executive Officer (CEO) of the fund, Nana Kwaku Agyei Yeboah, was to improve inflow into the fund to satisfy the needs of the thousands of applicants expected this academic year.
He told the that the recovery rate of the fund was currently 65 per cent.
Source:www.graphic.com