70,000 Students Set To Benefit From Loan Scheme In 2023

The Students Loan Trust Fund (SLTF) will assist more than 70,000 students throughout the 2022–2023 school year.

This is a 100% increase over the 32,744 students who were enrolled in the academic year 2021–2022.

Prospective tertiary students from all over the nation will be able to use the SLTF portal by downloading the Students Loan App or visiting the organization’s website.

When announcing this to the media in Accra on Friday, Nana Kwaku Agyei Yeboah, the Chief Executive Officer (CEO) of the SLTF, cited the introduction of the “No Guarantor Policy” as the reason for the rise in recipients.

He claimed that initiatives were being taken to guarantee that more students may use the loan option to fund their education. According to Nana Agyei Yeboah, GH64,645,575.00 was distributed to 32,744 beneficiaries on the SLTF from 110 tertiary institutions nationwide during the 2021–2022 academic year.

In light of this, Mr. Yeboah urged students to use the new program to access financial aid for their tertiary studies.

Background

In order to make it easier for applicants to obtain loans to fund their postsecondary education, the government, through the SLTF, introduced the “No Guarantor policy” in June 2022.

Since the implementation of this regulation, guarantors are no longer required for loan access by applicants for student loans.

As a result, it is anticipated that the number of students who can obtain the loan would rise after the guarantor requirement is removed.

Conclusion

Stay tuned for more interesting news updates.

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