Executive Director of the Students Loan Trust Fund (STLF), Nana Agyei Yeboah has disclosed that there have been efficient measures put in place to recover loans given to tertiary students in various institutions.
According to him, these measures have yielded positive results.
Nana Agyei Yeboah noted that as a way to ensure that borrowed monies are returned for the sustainability of the fund, they have resorted to publishing the names and photos of defaulters in the newspapers in order to serve as deterrence to others.
“…we have also published names and photographs of some of the recalcitrant defaulters in the national dailies” he said
He further revealed that, his outfit has made provision to criminalize all beneficiaries who do not keep their end of the bargain by trying to swerve payments.
“…we are [also] preparing to criminalize and prosecute borrowers who refuse to pay their monies come next year”
The Students Loan Trust Fund is a government initiative set up to provide loans to Ghanaian tertiary students who are pursuing accredited programs in any accredited tertiary institution across the country.
Nana Agyei Yeboah was speaking at a forum in Accra on funding of tertiary education.
Story by: Hendrina-Rose Bawa/universnewsroom.com