How to repay your student loan using MoMo

This post will guide you on how to repay your student loan using Mobile Money (MoMo). The Students Loan T rust Fund gives loans to Ghana tertiary students who are pursuing accredited programmes in accredited tertiary institutions.

These students must have gained admission to pursue undergraduate programmes only.

To start the process dial *737*206#
Enter your Social Security number
Enter amount.
Select option 2. MTN Mobile Money wallet
Confirm the Pin

6. After confirming the Pin, proceed to make payment.

Student Loan application requirements?

a. Register at any SSNIT office for a social security number
b. Have a personal e-mail address.
c. Provide one guarantor.
d. Register for an e-zwich card.

Note: You may use your social security reference number to apply for the loan

Guarantors and Guarantee

We ask for a guarantor, someone who will back up the loan and assist the Trust Fund to trace the borrower when repayment is due. In the event of death or incapacitation of the borrower, guarantor is absolved from loan repayment. Guarantor will be required to pay back any outstanding loan due as a last resort, only when the borrower cannot be traced to pay back.

The loan may be guaranteed by one of the following types of guarantors
a. SSNIT Contributor
b. Recognized Religious Body
c. Metropolitan, Municipal and District Assembly
d. Corporate Body

Source: Georgeweb.org