On Tuesday, the Student Loan Trust Fund (SLTF) released a total of eleven loans totaling Ghc11.2 million to students enrolled in higher institutions across the nation.
The money that has been released to various beneficiaries’ accounts will benefit 10,000 students from 182 educational institutions around the nation.
This payment marks the second in a three-month period following the official inauguration of the “No Guarantor Loan Policy” in Kumasi in June of this year.
The amount is part of the second batch of releases to the applicants without guarantors, according to Nana Kwaku Agyei Yeboah, the Chief Executive Officer (CEO) of SLTF, who made this disclosure to Ghanatodayonline.com on Tuesday.
The release, according to the CEO, comes after the SLTF completed processing the most recent applications it had received following the July release of the first round of payments totaling GH12 million to applicants.
He praised Nana Addo Dankwa Akufo-Addo, the president, for instituting the “No Guarantor Policy,” which has made it easier for many students to obtain loan guarantees in the past.
Once more, the CEO expressed his gratitude to the government for allocating the necessary cash for the payment in order to guarantee that the students have the necessary resources to support their studies.
The Chief Executive Officer vowed to keep pushing really hard to make sure that every applicant would receive payment when it was necessary to lessen their burden at school.
The government must always have enough money to operate the program for the benefit of others, thus Nana Agyei Yeboah urged the program’s participants to willingly repay their loans.
According to him, every effort is being taken to ensure that no youngster is denied an education owing to a lack of resources.
The CEO urged individuals who have not yet signed up for the program to do so since they could also have access to the loan, which was freely available to all eligible students regardless of their political, social, religious, or racial orientation.
According to a recent announcement from the minister of education, students who are applying for admission will also fill out student loan applications at the same time so that when they are admitted, cash would be available for their admission procedures.