Investigating the financial commitments of students to the repayment of students loan in Ghana

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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.
Thesis submitted to the Department of Business Administration, Ashesi University College, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2013
Ghana, Student Loan Trust Fund (SLTF), Social Security and National Insurance Trust (SSNIT)