Nat’l Tymes News Desk
The Students Loan Trust Fund (SLTF) has announced major reforms to improve access to tertiary education in Ghana.
This follows a directive from President John Dramani Mahama as part of his Reset Ghana Agenda.
The new changes aim to make student loans more accessible, affordable, and stress-free for tertiary students.
Key highlights of the reforms include:
1. Students Loan Plus Introduced: A new loan option under the No Fees Stress Initiative will fully cover tuition and be paid directly to schools.
2. Loan Amounts Increased: Regular loans to students have been increased by 50%, now ranging from GHC 2,250 to GHC 4,500 per academic year.
3. Interest Rate Reduced: Interest has been slashed from 12% compound interest to 6% simple interest during study and grace periods.
4. Faster, Easier Application Process: Students no longer need E-zwich cards. GCB Bank accounts will be automatically created for applicants via the No Fees Stress portal.
SLTF CEO, Dr. Saajida Shiraz, says the reforms will make tertiary education more inclusive and supportive of Ghana’s youth.
Source: Nationaltymes.com
