40,000 students to access GH₵499 million loan this year – Haruna Iddrisu

The Minister for Education, Haruna Iddrisu, has announced a boost for students. About 40,000 Ghanaian students will benefit from the Students Loan Trust Fund (SLTF) this academic year.

President Nana Akufo-Addo approved GH₵499 million to support over 150,000 students. This funding will go to public tertiary institutions across the country.

Mr. Iddrisu shared this information at a workshop in Tamale. He spoke to student leaders, university administrators, and prospective applicants. He assured everyone that funds would be available by next week.

“Currently, about 40,000 students represent close to 30% of our students,” Mr. Iddrisu said.

The SLTF aims to provide financial help to needy Ghanaian tertiary students. It is a key part of the government's efforts to improve access to higher education.

This year's funding is expected to support more beneficiaries than last year. Last year, around 30,000 students accessed loans through the program.

The expanded funding will cover tuition, accommodation, and living expenses for various disciplines. This includes public universities, technical universities, and colleges of education nationwide.

During the workshop, officials highlighted the simplified application process for SLTF. The National Identification Card (Ghana Card) is now the main form of ID needed. Many applicants no longer need a guarantor.

They also discussed repayment terms with a grace period after graduation and competitive interest rates. This clarity aims to help beneficiaries understand their obligations better.

This financial boost is expected to ease burdens on many Ghanaian families. It may lead to higher enrollment rates in tertiary education for the 2025/2026 academic year.

These efforts align with broader government strategies for educational infrastructure and accessibility in Ghana. They support long-term sustainable development goals for the nation.