INTEREST CHARGED ON LOAN : Why does the student loan attracts interest immediately the first installment is disbursed?

Published on 23 November, 2015.

SSNIT as Administrator of a Pension Fund sustains the payment of pension and the other benefits by investing all monies contributed into the Pension Fund. The Trust’s contribution towards the Students Loan Scheme was purposely to invest some of its fund to generate interest for the payments of benefits to its members. Therefore, the moment the cheque for the initial installment is sent to the student’s bank, interest starts to accrue using the date the bank received the cheque.

Students Loan (FAQ)

What Is The Students' Loan Scheme?

Purpose of the Loan?

The Loan Levels?

What is the status of loan disbursements to students by SSNIT?

GUARANTOR REPLACEMENT : What happens to a guarantor who is retiring even though the student is yet to complete his/her course of study? ?

Can I replace a guarantor after school even though I am still unemployed?

REPAYMENT : When can I start repayment of my loan?

How can I repay my student loan?

What are the repayment options?

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

As a guardian or a parent, can I request my ward's loan to be deducted from my contributions upon failing to repay even when I did not guarantee for him/her?

Can I repay my loan if I am resident outside Ghana?

GUARANTOR RELEASE : How do I get my guarantors released?

INTEREST CHARGED ON LOAN : Why does the student loan attracts interest immediately the first installment is disbursed?

Why does the loan indebtedness keeps changing when you call at different times for your loan balance (eg. June 2010 and August 2010)?

Where To Get Help or Advice?

Where is the location of the Students Loan Trust Fund?