Ghana increases student loan by 50%
Tertiary students across the country will now have the opportunity to access more credit facilities from the Student Loan Trust Fund (SLTF) as government has increased monies disbursed by the fund.
The Ministry of Education in Ghana has increased the financial allocations of students enrolled on the Student Loan Trust Fund programme by 50%.
This is a fulfilment to the current government’s promise in the lead up to the 2016 elections.
The current government NPP promised to abolish the payment of utility bills by students as well as increase the amount of loans under the Student Loan Scheme and restructure to streamline its administration to enhance recovery of the loans.”
“The NPP will place emphasis on the continuous linkage of academia with industry and the world of work to ensure curriculum relevance, thereby reducing graduate unemployment,” it party manifesto promised.
A statement signed by the Head of Public Relations at the Ministry, Vincent Assafuah, confirming the increase indicated that, an amount of GHC38,441,088 has been disbursed as full payment to the National Commission for Tertiary Education
Nana Agyei Yeboah the Chief Executive Director of the Fund said government was committed to ensuring that hindrances to quality education are alienated.
“Hitherto, the minimum amount given to beneficiaries was GHS 1,000 and it was capped at GHS 2,000 which was directly linked to needs assessment Government has subsequently increased the minimum amount to GHS 1,500 and maximum 3,000,” he lamented.