The Students’ Loan Scheme is a financial arrangement under which Ghanaian Students enrolled and pursuing approved courses in tertiary institutions in Ghana are granted loans to assist with the financing of their education.

REPAYMENT : When can I start repayment of my loan?

As soon as you are in a position to do so after completion of your course of study, i.e. when you are gainfully employed. However, when you fail to pay back the loan, SSNIT is authorized by law to deduct the loan from your contributions. Where the loan beneficiary is employed by a non-contributory organisation, the employer is also enjoined by the Student Loan Law to deduct the loan and pay same to SSNIT within fifteen (15) days after deduction.

How do I re-pay my loan with my Social Security contributions?

Make a formal request to the Students Loan Manager when you want to use your contributions to repay your loan. If the total contribution in your account is sufficient to clear the total loan then all the three guarantors will be released.

Where your total available contribution is not enough to clear your total loan, you need to state the guarantor(s) to be released. Lees verder →