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Fund disburses GH¢12m to students without guarantors

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Nana Kwaku Agyei Yeboah – CEO of SLTF

The Student Loan Trust Fund (SLTF) has released a total of GH ¢ 12 million in loans for third-institution students across the country.

A total of 10,000 students from 148 third institutions in the country have benefited from the scheme, which is being disbursed for the first time since the “No Guarantor Loan Scheme” was officially launched on June 9, 2022.

Nana Kwaku, the chief executive officer of the SLTF, Yeboh, who previously disclosed this to the media in Accra, said the amount of first-time applicants for the first semester of the year was included.

The first-time applicant from the University of Education, Vineba recorded 1,523 as the highest recipient, followed by Kwame Nkrumah University of Science and Technology with 787 students, Ghana University with 511 students, Kofridua Technical University with 488 students and Takoradi Technik with 37 technical students.

He said that the minimum amount received by each student is from GH ¢ 1500 to minimum and GH ¢ 3000 is the maximum after a way-test evaluation before distribution to students by SLTF depending on the needs of the students.

Nana Agyei Yeboah says the funding will help students reduce the burden as they continue their education on different campuses across the country.

The CEO explained that all continuing students who benefited from the country’s student loan scheme were paid in March this year.

He promised to ensure that the student funds are not challenged to ensure that the beneficiaries are paid on time.

Nana Agyei Yeboah appealed to the beneficiaries of the scheme to ensure that they have voluntarily repaid their loans so that the government always gets adequate funds to run the scheme for the benefit of others.

The CEO said that only those who have not yet been paid applied but did not complete the required information submission to the project and requested to expedite their documentation and take their biometrics for payment.

He appealed to those who have not yet applied for the scheme as they could benefit from the facility which was readily available to all eligible students irrespective of political, social, religious and ethnic orientation.

The Nana Addo Danqua Akufo-Ado-led government has launched a “No Guarantor Scheme” to ensure that third-level students are able to secure loans to support their education without too much difficulty.

Beneficiaries need to have an e-Zwich card (a smart card issued by Ghana Interbank Payment and Settlement Systems Limited) for easy payment to ensure that they receive their funds without much challenge.

Source: GNA

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