Home Finance How to Apply for a Student Loan Trust Fund (SLTF) in Ghana

How to Apply for a Student Loan Trust Fund (SLTF) in Ghana

Are you a prospective student in Ghana?

The  pursuit of knowledge is a noble one, but the burden of tuition fees and other educational expenses can cast a shadow over your academic aspirations. In this blog post, we will explore a vital avenue that can alleviate your financial worries and pave the way for your educational dreams. What’s that? It’s simply Applying for a Student Loan Trust Fund (SLTF) in Ghana.

Now, let’s move into the intricacies of this essential process. Without obtaining assistance through the SLTF, you may find yourself facing limited options to fund your education. 

Unlike some other funding avenues, the SLTF provides a structured and reliable way for students to access financial support, making it a crucial lifeline for many pursuing higher education in Ghana.

So, without further ado, let’s get started.

What is the Students Loan Trust Fund (SLTF)?

The Students Loan Trust Fund (SLTF) is a government funded initiative established in 1992. Its primary mission is to enhance access to tertiary education by providing loans to eligible Ghanaian students. 

This support aims to alleviate financial barriers and ensure that education remains accessible regardless of one’s financial background.

Who is eligible for an SLTF loan?

To qualify for an SLTF loan, you must meet the following criteria.

  1. Be a Ghanaian citizen.
  2. Have received an admission offer from an accredited tertiary institution in Ghana.
  3. Be pursuing a diploma or first degree program.
  4. Possess a valid Ghana Card Number (Ghanaian National ID).

How much can I borrow?

The amount you can borrow from the SLTF depends on your chosen program:

  • For diploma programs: The maximum loan amount is GHS 2,000.
  • For first degree programs: The maximum loan amount is GHS 3,000.
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How to apply for an SLTF loan

Step 1: Create an account on the SLTF website

Your journey begins by creating an account on the SLTF website. Follow these steps to get started:

1. Visit the official SLTF website.

2. Click on the registration or sign up option.

3. Provide your personal information, including your name, contact details, and Ghana Card Number.

4. Create a secure login password.

Step 2: Complete the online loan application form

Once your account is set up, access the online loan application form. You will need to furnish the following details:

  • Personal information
  • Educational background
  • Financial situation

Step 3: Upload the required supporting documents

To strengthen your loan application, you must upload essential supporting documents:

  • Student ID card or admission letter
  • Ghana Card Number
  • E zwich card (a prepaid card for payments and withdrawals)
  • Guarantor’s consent form (if applicable)
  • Guarantor’s ID card or passport
  • Guarantor’s income statement

Step 4: Take your biometric fingerprint

After submitting your application, you’ll be required to provide your biometric fingerprint. This step is crucial for verifying your identity and ensuring the security of your loan.

Step 5: Wait for your loan approval

The SLTF will review your application, and once approved, your loan will be disbursed to your E zwich card, providing you with the financial support needed to pursue your education.

How much do I have to pay back?

You are required to start repaying your SLTF loan within six months after your program’s graduation. The repayment period can extend up to 10 years, providing flexibility in managing your finances.

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When do I start repaying my loan?

Repayment begins six months post graduation, giving you time to transition into the workforce before shouldering the financial responsibility.

What are the repayment options?

You have the choice to repay your loan in two ways, they include; 

  • Repay the full loan amount to save on interest charges.
  • Opt for installment payments, with the amount determined by your income.


How do I know if I am eligible for an SLTF loan?

To confirm your eligibility, ensure you meet the criteria mentioned earlier. These include Ghanaian citizenship, admission to an accredited institution, and the pursuit of a diploma or first degree program.

How long does it take to receive money from SLTF?

According to the Students Loan Trust Fund (SLTF), it usually takes two weeks to receive money from them after your loan application has been approved. This is on the condition that your loan application form has been properly completed and all relevant supporting documents have been attached to the application.

Do I pay student loan while studying?

No, you do not have to pay your student loan while you are still studying in Ghana. The Students Loan Trust Fund (SLTF) allows students to defer their loan repayments until after they graduate and start earning a salary.

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