The Students Loan Trust Fund (SLTF), has warned the public, especially applicants of the loan to refrain from paying so-called ‘processing fees’ to online scammers who promise to expedite the application and payment process for them.
According to the Head of Public Relations of the SLTF, George Ferguson Laing, the Fund has an open application process which ensures that all applicants are treated equally.
“No fees are charged by the SLTF for processing loan applications” he said.
He said that some scammers online have been able to dupe some loan beneficiaries into paying varying sums of money, to enable them gain entry onto a protocol list for speedy payment.
“We do not have a protocol system at the SLTF, all applications are processed and paid as and when funding is available”.
Mr Ferguson Laing advised both current beneficiaries of the loan, and new applicants to deal only with officials of the fund and to report any requests for payment to management of the Fund.
He asked applicants to visit the SLTF website to apply for their loans online.
“We have recently introduced an online application system to make the application process faster and more convenient for borrowers”.
He also urged borrowers of the Fund who have started repaying their loans to use only SLTF approved repayment channels to avoid fraud.