The Students Loan Trust Fund (SLTF) has taken legal action against eight public institutions(names withheld) for failing to deduct and remit necessary loan payments from employees’ salaries.
The fund has accused these institutions of negligence in handling loan repayments from their staff members.
A total of 98 employees borrowed from the SLTF while they were students but failed to repay their loans as agreed.
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Consequently, the SLTF has reported the matter to the police, who have now given the defaulting institutions an ultimatum to comply or face court action.
The investigation into the matter revealed that the institutions had already been served notices by the police to appear before the Criminal Investigations Department (CID) to address the issue.
However, despite being served notice on three separate occasions, these institutions failed to respond.
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Nana Kwaku Agyei Yeboah, the Chief Executive Officer of the SLTF, emphasized that his organization is determined to recover the outstanding loans to ensure the continuity of financial support for Ghanaian students seeking higher education.
The SLTF is committed to promoting access to higher education and supporting Ghanaian students in achieving their educational goals.
Their decision to involve the police and potentially pursue court action sends a strong message to other institutions that failing to comply with loan repayment requirements will not be tolerated.
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This move also serves as a reminder to borrowers that their financial obligations should be taken seriously, as non-payment can have serious legal consequences.