Mitrobe StaffEducation plays crucial roles in the life of an individual. It helps builds ideas, characters, and skills. It improves your relationship with other people around you.
The importance of education have set many people free and have changed the lives of many from bad to good, grass to grace and from poverty to wealth.
However, many people are left frustrated and despair because of a lack of funds. Many people have great dreams, goals, and passion but were unable to continue because there is no money to forge ahead.
The effect of poverty has made many people lose focus and has made many students drop their schooling to start doing unnecessary things such as gambling, fighting, raping, and other evil atrocities.
However, the opportunities have come for students in Ghana never to give up, because there are some financial institutions in Ghana who gives students loan for them to continue schooling.
WHY YOU SHOULD CONSIDER STUDENTS LOAN
A student loan can be reffered to as a type of loan that is specially designed to help students with financial limitations, is a kind of long term financial support to continue their education and give them time to pay back the money with little interest.
- LOW-INTEREST RATE
The interest rate on student educational loans is not much unlike other loan services such as a car loan or home loan. The reasons for implementing students loan is to help students with financial problems to help complete their schooling so as not be left stranded and frustrated.
- PEACE OF MIND
Student loan gives you peace of mind not to worry about the payment of school fees. It provides long term support and makes you focus on your studies instead of thinking about money and hustling to meet up.
- AFFORDABLE PAYBACK OPTIONS
Student loan payback option is easy and affordable. Financial Institutions that offer students loan have various options for payback. Payback options depend on the financial institutions you applied to. Some may require you to pay back within 12 months and some 10 months.
THINGS TO CONSIDER BEFORE APPLYING FOR STUDENTS LOAN
Before applying for students loan, you must do extra research and be well guided in the process to avoid any mistakes that can lead to further complications. Things to consider include:
- INTEREST RATE
You must consider the interest rate of different financial institutions that give students loan. Student loans are not much unlike any other loan, but however, the interest rate of different financial institutions differs.
- PAYBACK OPTIONS
Different financial institutions have different payback options. Some require payback time to be 10 months while some give the privilege of 12 or more.
List of Banks offering students loans in Ghana
(Note: These lists of bank different interest rates and payback option. We advise you visit their website for more information)
HFC BANK
HFC bank is one of the most trusted banks that have been helping students to continue their schooling through loaning. HFC student’s bank loan interest is not much and they provide easy payback options.
REQUIREMENTS
- The applicant must have an account with HFC Bank.
- Applicant must be in employment for the past 12 months
- Applicants must show proof of no accrued debt.
- Applicants must have proofs of identification such as Ghana ID cards.
SOCIETE GENERALE GHANA
Societe Generale Ghana is among the top Ghana financial institutions that offer loans to students. They provide fast loans for student’s emergencies and give the privilege for students to payback within 10 months.
- The person applying must have an account with Societe Generale Bank and must have had made transactions with at least 12 months.
- The person applying must have proof of employment with at least 3 payslips.
- Proof of identification
BANK OF AFRICA GHANA
Bank of Africa Ghana is also among top financial institutions that offers students loan. Both graduates and mature students benefit from their offers. They offer 100% students loan.
REQUIREMENTS
- The applicant must have reached age 21 and not more than 58 years old
- You can get a loan whether you are a customer or non-customer
- Clean credit report required
- Must be in employment for the last 6 months.
Mitrobe Staff
