About the Students Loan Protection Scheme (SLPS)
Q. What is the SLPS?
The SLPS is the Students Loan Protection Scheme and it is an initiative of the SLTF has instituted to absorb the financial burden on guarantors and families that will result from default in loan repayments caused by death or permanent disability of borrowers.
Q. How much do I pay for protection?
You will be required to contribute 0.5% of your loan to the Students Loan Protection Scheme. This contribution would be in the form of a deduction at source during per each disbursement.
Q. Why do I pay for protection?
This will absorb your guarantor from any liable in case of death or permanent incapacitation.