To cushion students in the country and make education affordable, government, through the Student Loan Trust Fund (SLTF), has released GhC11.2 Million as loans to some students in tertiary institutions in the country.
A total of 10,000 students from 182 tertiary institutions across the country benefited from the amount released on Tuesday into the accounts of the beneficiaries.
This is the second payment made in three months after the official launching of the ‘No Guarantor Loan Policy’ in June this year.
Chief Executive Officer (CEO) of SLTF, Nana Kwaku Agyei Yeboah, said the release follows the completion of the latest applications received by the fund.
In July, the Fund released GhC12 million to the first batch of beneficiaries following the launch of ‘no guarantor’ policy.
Nana Agyei Yeboah commended President Nana Addo Dankwa Akufo-Addo, for the policy, saying it has come to ease the burden of many students.
He further commended the President for releasing the needed funds towards the payment to ensure that students have the required funds to support their education.
The CEO pledged to continue working hard to ensure that all applicants would be paid the required amount, when necessary, to ease their burden at school. He appealed to beneficiaries to ensure voluntary repayment of the loan to promote sustainability of the Fund.
Nana Agyei Yeboah indicated that every effort was being made to ensure that no student was denied education over funding.
He appealed to those who have not yet applied to the scheme to do so. He noted that the Fund was available for all qualified students irrespective of political, social, religious or ethnic orientation.
The Minister of Education, Dr Yaw Osei Adutwum, recently announced plans to ensure that students applying to tertiary institutions would simultaneously fill out their student loan application forms. This is to ensure that fund is made available to the students upon admission. It is also intended to take out the era where students have to chase the SLTF several days upon admission to various schools.
According to the Minister, the difficulties involved in getting people to guarantee students loans applicants used to be a major challenge to many students in tertiary institutions in the country. He noted that this prompted the Nana Akufo-Addo-led government to introduce the ‘No Guarantor’ scheme to ensure that tertiary students are able to secure loans to support their education without much difficulty.