Investigating the financial commitments of students to the repayment of students loan in Ghana
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2013-04
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Abstract
This study sought to find out the financial repayment commitments
of beneficiaries of the Student Loan Trust Fund (SLTF) in Ghana. It
also assessed the practises which the student's loan scheme is
managed and operated in Ghana. In order to do this, questionnaires
were distributed to beneficiaries of the SLTF and interviews with
selected top management of the SLTF were conducted. Results of
the research on beneficiaries of the SLTF centred on the following
areas: employment status, loan repayment status, beneficiaries'
perception of the repayment period and interest rate. The
interviews were centred mainly on views of the SLTF management
on the following areas: their views on the attitude of beneficiaries
towards paying back their loans, the measures put in place to
encourage beneficiaries in repaying the loans and the measures
available to sanction beneficiaries who default on their loan
repayment and their employers who do not fulfil their obligations to
make monthly deductions from the salaries of their employees who
are beneficiaries of the SLTF.
Analysis generated from the data that was collected concluded that
the employment status of beneficiaries of the SLTF, interest rates
and repayment period are major factors that affect the attitude of
beneficiaries towards loan repayment. The study also identified the
problem of inadequate database to aid the SLTF in tracking the
beneficiaries of the loan in the long run.
Description
Thesis submitted to the Department of Business Administration, Ashesi University College, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2013
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Keywords
Ghana, Student Loan Trust Fund (SLTF), Social Security and National Insurance Trust (SSNIT)