The Students Loan Trust Fund (SLTF) has escalated its recovery campaign, issuing a final demand notice to 102 student loan defaulters, with records indicating the list extends far beyond the initial 39 names published.
The notice, dated August 4, 2025, appeared in the Daily Graphic on Wednesday, August 6, 2025, marking the second batch of defaulters targeted this year.
Citing Section 26 of the Students Loan Trust Fund Act 2011 (Act 820), the SLTF warned that failure to repay outstanding balances within one month would result in automatic court judgements, including a five per cent penalty fee imposed on both borrowers and their guarantors.
The notice read: "Failure to [repay] is an admission of the debt; and shall be deemed a judgment on the amount in addition to five per cent costs entered by the Circuit Court against you and your guarantor."
Graduates from major institutions such as the University of Ghana, KNUST, and the University of Cape Coast were named, with completion dates stretching back to 2010.
Notable among the defaulters is Caleb Kolo Nsarful (University of Ghana), who owes the highest amount of GH¢18,623.82, and Gilberton Jonathan Otoo (University of Mines and Technology), with the smallest outstanding balance of GH¢6,343.37. Each defaulter’s guarantor—often a family member or associate—was also named, exposing them to potential legal liability.
The Fund reminded borrowers of their original repayment terms, which included flexible timelines covering study periods, national service, and a grace period thereafter. Despite prior notices issued in March 2024 and May 2025, many have yet to comply.
Defaulters were directed to settle payments via www.sitt.gov.gh/payloan or contact the SLTF helpline at 0302 751 020. The notice concluded with a terse advisory: "Be advised."
This move underscores the SLTF’s stricter enforcement of loan recovery, amid growing concerns over rising default rates and their impact on the Fund’s sustainability.
Legal experts warn that unresolved debts could trigger lawsuits, credit blacklisting, and enforced wage deductions for persistent defaulters.
See the full notice below;
-Graphic