Gov’t releases GH₵20m for payment of Loans to students
The government through the Student Loan Trust Fund, (SLTF) on Friday released an amount of GH₵20 million for the payment of Loans to students in various private and public tertiary institutions across the country.
The amount is expected to benefit 10,243 students who have applied for student loans to finance their education.
Mr Nuhu Bayorbo Mahama, Chief Executive Officer (CEO) of SLTF, who disclosed this to the media on Friday explained that cumulatively, the trust fund has disbursed about GH₵58 million to 54,658 students for the 2023/24 academic year of which 27 million out of it was also paid to about 68,000 teacher trainees as allowance within the same period.
Assurance
He assured all students that the government through the Education Ministry and the SLTF will continue to prioritize their needs to enhance their studies.
The CEO indicated that the payment was to help all the students register and write their examinations.
Mr Mahama also mentioned that the government in May, released funds for the settlement of outstanding student loans and teacher training allowances.
He stated that since the introduction of the No Guarantor Policy two years ago, the demand for student loans has increased drastically due to the removal of the burden students used to face with getting people to guarantee their loans.
Each beneficiary student is expected to receive between a minimum of GH₵1,500 and a maximum of GH₵3,000 depending on the needs of the students.
