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(1) A borrower of the Fund shall subscribe to a Students’ Loan Protection Scheme that shall indemnify the borrower against payment of outstanding debt to the Fund as a result of death or permanent disability.

(2) The Loan Protection Scheme shall cover the duration of the loan.

(3) A borrower who repays the loan in full shall be issued with a certificate of payment within fourteen days after payment by the Board and the certificate shall be conclusive evidence of full payment of the loan.