‘Your Phone is More Expensive Than Your Debt, Pay Up’- Student Loan TrustFund to Defaulters

The Head of Repayment and Recovery at the Trust Fund, Rosemary Aryee, has called out student loan defaulters, saying many beneficiaries own phones more expensive than the total amount they owe.

“Some of the phones that our beneficiaries carry are even more expensive than the whole amount they are expected to pay, and so we don’t take kindly to statements like ‘I’m not working’,” Aryee stated.

According to her, the amount of data students use and the type of phones they carry are clear indications that repayment is possible if they are willing.

“We have students waiting to get formal employment or white-collar jobs before they pay their loans,” she said. “We also like to educate that you don’t need to be working in the bank or be formally employed. There are several informal activities that are happening online. Businesses are thriving, and investments are undertaken.”

She stressed that waiting for a formal job is not a condition for repayment. She noted that many beneficiaries are already engaged in online businesses and other income-generating activities that can support loan repayment.

The Trust Fund is urging all beneficiaries to start repaying to avoid accumulating more interest.

“We use this opportunity to appeal to students: pay up your loan because the longer you keep it, the more interest it accumulates,” she said.

Beneficiaries can begin repayment immediately by dialling *827# on their phones.

Story by Hajara Fuseini

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