SLTF001

FORM NUMBER:_________

STUDENTS LOAN TRUST FUND

LOAN APPLICATION FORM
SECTION A APPLICANTS BACKGROUND INFORMATION
(Complete all questions using block letters only and in BLACK ink)
Full name as it appears on your documents. Surname Gender (Male/Female) M/F Date of Birth (DD/MM/YYYY) / / Place of Birth Village/Town/City Other Names Please provide the following identification Student ID# Social Security# NHIS #

Photograph

Home Town

District

District

Region

Region

Nationality:

Address to which correspondence Regarding This Application should be sent:______________________________________ ___________________________________________________ District:________________________ Region:______________ Telephone Number:_______________________ Residential

Permanent Home Address: (Where you normally reside, do not provide postal addresses):______________________________________________________ _______________________________________________________________ District:_________________________________ Region:_________________ Email Address:_______________________________

_________________________ Mobile Number Branch:

Bank Account into which Loan, if approved, is to be paid. Name Of Bank:

Account Number:

Account Name (Applicants Name): INFORMATION ON YOUR INSTITUTION AND PROGRAMME OF STUDY

Name Of Institution: Programme Of Study:

Year of Admission:

Nature of Programme(Check appropriate box): Duration (in Years) of Programme

Full Time

Part Time

Sandwich Check Appropriate Box Resident Non Resident

Hall Of Residence/Attachment

--------------------------------------------------------------------------------------------------------------------------------------------------------Tear-off section Form Number:_______________________ Please write your name below: Surname Other Names

This slip shall be detached and given to you on submission of the form.

Keep it safely and use it for all enquiries.

SECTION B - APPLICANTS EMPLOYMENT HISTORY (If applicable)

Name And Address Of Current Or Last Employer:_______________ ___________________________________________________ ______________________________________________________________________________________________________________

Period of Employment:

From : _____________________

To : ___________________ State Your Total Annual Gross Income Salary: _________________________________ Other Income:___________________________

Mark X In Box/Boxes As Applicable On study leave with pay On study leave without pay Full time study Part time study

Total:__________________________________ Will you be expected to serve a Bond after completing this program of study?

SECTION C (INFORMATION ON PARENTS OR GUARDIAN)

PARENT #1 OR GUARDIAN Full Name Surname Other Names Residential address. Surname Other Names PARENT #2

District of residence. Region of residence. Provide the following identification information

Social Security Number Drivers Licence Number NHIS Number

Social Security Number Drivers Licence Number NHIS Number

Occupation. What is his/her relationship to you? (check only one) Father Mother Brother Uncle Aunt Sister Father Mother

Other (specify)_________________________________

(MUST HAVE AT LEAST SIXTY MONTHS OF CONTRIBUTIONS WITH SSNIT)

Name in full Surname Other Names Social Security Number Address

SECTION D (GUARANTOR)

Name and Address of Employer (where applicable)

SECTION E - DECLARATION BY APPLICANT

This is to certify that I____________________________________________________________, a student of ___________________________________ hereby confirm the accuracy of all the information provided above on the basis of which I apply for a student loan as governed by the Trustees Incorporation Act, 1962, Act 160. I shall abide by all the rules and regulations governing the scheme. Signature of student Date __________________

DEED OF AGREEMENT GUARANTOR

THIS GUARANTEE TO STUDENTS LOANS TRUST FUND established under the Trustee Incorporation Act, 1962, Act 106 witnesseth as follows. 1. In consideration of the Students Loans Trust Fund (hereinafter referred to as the Trust) agreeing to give loan facilities to ____________________________________________________________________, (hereinafter called the Principal), during the Principals course of study as a Full Time/Part Time/Sandwich (underline whichever is appropriate) student at __________________________________________________________, I___________________________________________________________________________________of _____________________________________________________________________________________ (full residential address) and whose SOCIAL SECURITY NUMBER is (hereinafter called the Guarantor) hereby GUARANTEE to the Trust the payment of and undertake on demand in writing made on me by the Trust to pay to the Trust all sums of money now or from time to time hereinafter advanced by the Trust to the Principal with interest thereon at rates agreed upon by the Principal and the Trust which interest shall be capitalized in the manner agreed upon by the Principal and the Trust due to the Trust from the Principal in addition to all legal and other charges. 2. For all purposes the liability of the Guarantor to the Trust under this Guarantee shall be every sum of money which may now be or which hereafter may from time to time become due and owing to the Trust as aforesaid by the Principal until the same shall be actually repaid to the Trust, notwithstanding the insolvency or bankruptcy of the Principal or any other event whatsoever. Any admission or acknowledgement in writing by the Principal or any person on behalf of the Principal of the amount of the indebtedness of the Principal or otherwise in relation to the subject-matter of the Guarantee or any judgment or award obtained by the Trust against the Principal or proof by the Trust in the insolvency or bankruptcy of the Principal which is admitted or any statement of amount furnished by the Trust the correctness of which is certified by anyone of the Trusts officers shall be biding and conclusive on the Guarantor. The Trust is to be at liberty without thereby affecting its rights hereunder at anytime to refuse to make any further advances to the Principal to compound with give time for payment or grant other indulgence to the Principal or to accept composition from and make any other arrangements with the Principal or any person(s) for the repayment of the loan to the Trust without prejudice to its right to recover from the Guarantor the loan to the full extent of this Guarantee. The Trust is at liberty without any further consent from the Guarantor and without in any way affecting the Guarantors liability under this Guarantee to give up in whole or in part any bills notes mortgages charges liens or other securities received or to be received from the Principal either alone or jointly with any other person or persons and to grant time to or compound with the Principal or any person or persons liable on any such bills notes mortgages charges liens or other securities to or with any person or persons liable jointly with or as surety for the Principal. I, declare that I have not received any security from the Principal for the giving of this Guarantee and I agree that I will not so long as any money remains owing by the Principal to the Trust take any security from the Principal in respect of my liability hereunder without first obtaining the Trusts written consent. In the event of the insolvency or bankruptcy of the Principal the Trust is at liberty (notwithstanding payment to the Trust by the Guarantor or any other person of the whole or any part of the amount hereby guaranteed or any release settlement discharge or arrangement made or given by the Trust) to rank as creditors and prove in the Principals insolvency or bankruptcy for the full amount of the Trusts claim and the Trust may and shall receive and retain the whole of the dividends to the exclusion of the right (if any) of the Guarantor as creditor in competition with the Trust until the Trusts claim is fully satisfied. This Guarantee shall be a continuing security to the Trust and shall not be determined until all monies due and owing under this Guarantee have been fully paid except with the consent of the Trust. The Guarantor may determine this Guarantee with the written consent of the Trust by giving the Trust three (3) months notice in writing. In the event that this Guarantee is determined under this clause and the Guarantor is not substituted by another person acceptable to the Trust the Guarantor and his personal representative shall be liable to pay to the Trust all the money due from the Principal to the Trust at the date when the Guarantee is determined.

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10. This Guarantee is to be applicable to the ultimate balance that may become due or owing to the Trust as aforesaid by the Principal and until payment of such balance the Guarantor shall not be entitled to participate in any security held or money received by the Trust on account of such balances or to stand in the Trusts place in respect of any such security or money. 11. As a separate and independent stipulation the Guarantor agrees that all sums of money which may not be recoverable from the Guarantor on the ground that this guarantee whether by reason of any legal limitation disability or incapacity on or of the Principal or any other fact or circumstance and whether known to the Trust or not the said sums of money shall nevertheless be recoverable from the Guarantor as a joint principal debtor in respect thereof and shall be repaid by the Guarantor seven days after demand in writing is made by the Trust or on the Trusts behalf. 12. This Guarantee shall continue to bind the Guarantor notwithstanding any amalgamation of the Trust with another entity or conversion change of status take over of the assets and liabilities of the Trust whether the new entity shall or shall not differ in its name objects character and constitution from the Trust it being the intent that this Guarantee shall remain valid and effectual in all respects and for all purposes in favour of or with reference to any such new entity then formed and may be proceeded on and enforced in the same manner to all intents and purposes as if such entity had been expressly named in and referred to herein instead of the Trust. 13. Any notice or demand hereunder shall be deemed to be sufficiently given if sent by prepaid letters to the address of the Guarantors last known to the Trust and shall be assumed to have reached the addressee in the course of post and if sent overseas may be sent by airmail or by sea. In the case of the Trust if the notice is sent by prepaid post to its last known address. 14. In the event that the Trust demands and receives another Guarantee(s) in addition to this Guarantee for the grant of loans to the Principal it shall be deemed that this is a joint Guarantee with the other Guarantee(s) and the obligations of the Guarantors shall be joint and several.

DATED THIS _______ DAY OF ____________________________ 200__ SIGNED by the Guarantor ) ____________________________ (Signature of Guarantor)

RIGHT THUMB PRINT OF GUARANTOR (Thumb print should be taken at an SLTF designated office, supervised by an officer who should write his/her name and sign against it.)

in the presence of :

)_____________________________________________________________________ ) (Name of Witness) ) ____________________________ (Signature of Witness)

SIGNED by the SLTF in the presence of :

) _____________________________ )_____________________________________________________________________ ) (Name of Witness) ) ____________________________ (Signature of Witness)

STUDENTS LOAN TRUST FUND

Please affix a recent passport-sized picture here.

STUDENT LOAN AGREEMENT

THIS AGREEMENT is made this_____day of ______________ 200_ between STUDENTS LOAN TRUST FUND a Trust incorporated under the Trustee Incorporation Act, 1962, Act 106 of PMB CT 223, Cantonments acting by its agent (hereinafter referred to as the LENDER) of the one part and _________________________________________________________________________________________ of ____________________________________________________________ and whose Social Security Number is (hereinafter referred to as the BORROWER) of the other part. WHEREAS: 1. The Lender as required under its Trust Deed has established a Students Loan Scheme for students undertaking approved courses at tertiary educational institutions in Ghana. 2. 3. The borrower is currently pursuing a certificate/diploma /degree and or professional course at ___________________________________________________________________________________ At the request of the Borrower the Lender has agreed to grant a loan facility under the Students Loan Scheme to the Borrower for the duration of the course of study of the Borrower and subject to the terms and conditions of this agreement. AMOUNT OF LOAN The Lender shall provide the Borrower with a loan facility in the sum of in the first year of the course of study and further amount(s) to be agreed by the parties herein in the subsequent year(s) of the course of study of the Lender. The loan amounts shall be paid into a personal bank account of the Borrower the particulars of which the Borrower shall provide to the Lender. INTEREST The Loan shall attract interest charges in the following manner: (a) interest rate equal to the prevailing 182 day Government of Ghana Treasury Bill compounded annually during the period of course of study, national service and grace period (one year) of the Borrower. (b) interest rate equal to the prevailing 182 day Government of Ghana Treasury Bill plus 2% compounded semi-annually during the repayment period ofyears. Refer to SCHEDULE Duration of Course of Study and Loan Repayment Period on the last page. REPAYMENT OF LOAN The Borrower shall repay the loan granted inclusive of the accrued interest within .. years from the date of grant of the loan. The repayment shall be on a monthly basis and shall commence two (2) years after completion of course of the study (national service and one year grace period). The repayment shall be completed within a maximum of (.) years from the date of commencement of repayment. The grace period shall not be applicable to Borrowers pursuing courses of study of more than five (5) years duration. The Borrower may with the written consent of the Lender change the monthly repayment as stated in clause 6(a) herein to another periodic repayment mode. GUARANTEE The Borrower shall provide at least one Guarantor acceptable to the Lender prior to the disbursement of the Loan. PRE-PAYMENT OF LOAN The Borrower shall have the right at anytime on written notice to the Lender to prepay all or part of the loan with the accrued interest. DEFAULT IN REPAYMENT (a) If the borrower defaults in making six (6) monthly payments the Lender shall send the Borrower a Default Notice copied to the Guarantor. (b) If the Borrower defaults in making twelve (12) months payment the Lender shall send the Borrower and his Guarantor a Default Notice demanding payment for the entire outstanding

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(c)

balance of the Loan and if payment is not made legal action may be taken by the Lender to recover the Loan. The Borrower shall be liable to pay a penalty of 10% for all late payments. The penalty shall be determined by the Lender every six (6) months of the term of the Loan.

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FALSE INFORMATION The Lender shall be entitled to terminate this agreement at any time if the borrower provides any false information on his/her application or guarantee form. In the event of termination of this agreement under this clause the principal and accrued interest shall become immediately payable. DISCLOSURE OF INFORMATION (a) The borrower shall notify the Lender in writing of any change in his residential, postal and business address, the name and business address of his employer at any time until the loan is fully repaid. (b) The borrower shall notify his employer in writing of his obligation to repay the loan and authorise his employer to deduct the monthly repayments for the loan from his salary and pay the money to the Lender. NON COMPLETION OF COURSE OF STUDY (a) If the borrower fails to complete his course of study through any cause whatsoever the borrower shall remain indebted to the lender for the loan and the entire loan shall become due and payable immediately. (b) A borrower shall not be eligible for a loan during repeat year(s) of study.

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Left Index Finger Print Left Thumb Print Right Thumb Print Right Index Finger Print (Finger prints should be taken at an SLTF designated office, supervised by an officer who should write his/her name, designation and sign against it.)

IN WITNESS whereof the parties have executed this agreement the day and year first above written.

Signed, Sealed and Delivered by the within named Borrower in the presence of :

) ___________________________ (Signature of Borrower) )______________________________________________________________ ) (Name of Witness) ) __________________________ (Signature of Witness) ) ___________________________ (Signature of Lender) ) _____________________________________________________________ ) (Name of Witness) ) __________________________ (Signature of Witness)

Signed, Sealed and Delivered by the within named Lender in the presence of:

Address to which correspondence Regarding This Application should be sent: _____________________________________________ _____________________________________________ District:______________________Region:__________

Permanent Home Address: (Where you normally reside, do not provide postal addresses): ________________________________________________________ ________________________________________________________ District:_______________________________Region:____________

Telephone Number:__________________ _____________________ Email Address: ______________________________ Residential Mobile Number Bank Account into which Loan, if approved, is to be paid. Name Of Bank: Branch: ____________________________________________________ _______________________________________________ Account Number: Account Name (Applicants Name): _______________________________________________

CONSENT OF PARENT/GUARDIAN
I, __________________________________________ of ____________________________________________ and with Social Security Number: ______________________________________ Drivers Licence Number:_____________________________________ NHIS Number: _____________________________________________ being a Parent/Guardian of _______________________________ a student at ___________________________ consent to the grant of Loans by the Students Loan Trust Fund to my child/ward during his course of study at

Postal Address _______________________________________________________________________________ Signature ___________________ Home Telephone _________________ Mobile _________________

Duration of Study (Yrs) 2 3 4 5 6 7

SCHEDULE - Duration of Course of Study and Loan Repayment Period. National Grace period Repayment Total Loan Service period (Yrs) Period (Yrs) Period (Yrs) (Yrs) 1 1 5 9 1 1 7 12 1 1 9 15 1 1 10 17 1 NA 10 17 1 NA 10 18