The Students Loan Trust Fund was established to provide financial support for students especially those in tertiary cycle institutions. The inconsistencies in the timing of disbursements made to students over the past few years have become a bother to many students whose budgets rest on these disbursements made to them.
Per a statement issued by Mr. Enning Richnard Aboagye, he laments on the infrequent and inconsistent disbursements of the loan to students. The COVID-19 pandemic saw a halt in almost all activities except those deemed essential services.
Per the communique released, The Student Loan Trust Fund has failed students by also going on a break because they should be considered an essential service.
“The saddest part is, upon the announcement of the lockdown about three weeks ago which exempted essential service providers, a scheme which provides financial stability to students called themselves non-essential service providers and therefore closed their offices,” said Mr. Enning Richnard Aboagye.
The inconsistencies in disbursements coupled with the break-in activities by the Students Loan Trust Fund (SLTF) has not gone down well with some beneficiaries and other interested persons. The inability of past beneficiaries to settle the debts they owe has been cited as a reason for the recent reluctance and sometimes delayed release of the loans to students. A final resolve proposed by some agitated students is the abolition of the Loan Scheme entirely if it is not able to carry out its mandate in crucial times like these when most beneficiaries are hard-pressed for financial support.
The coronavirus pandemic has had a ripple effect on almost every facet of life. Most businesses have cut down on the number of workers as a bounce-back strategy from the aftershock of this two to three months worldwide freeze on major trade. Most students double as part-time workers and maybe the most affected by these lay-offs and this brings to light the agitations for a better functioning loan scheme.
Read Full Statement here:
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