Professor Naana Jane Opoku-Agyemang, Minister of Education, has observed that the best way any government could relate to the less privileged, was to ensure that children had a better future through access to tertiary education.
That, she said, was what the Student Loan Trust Fund (SLTF) sought to achieve, but pointed out that a lot depended on the beneficiary students paying back the loan after completing their education so that others too could benefit.
Prof Agyemang said there was the need to reach out to as many students as possible, and this called for a sharper instrument for needs assessment, “so that we do not have loans going to those who do not need the money.”
Prof Agyemang made the the observation when she launched the 10-year anniversary celebration of the SLTF on behalf of President Mahama in Accra, under the theme, “Transforming tertiary education financing in Ghana.”
She said the adequacy of the loan was being considered for review, due to the increasing cost of tertiary education.
Mrs. Sheila Naah-Boamah, Chief Executive Officer (CEO) of SLTF, indicated that a student loan protection scheme has been introduced to provide comfort to guarantors in times of death or total permanent disabilities, as a way of dealing with repayment challenges.
She said the qualification requirements from SSNIT guarantors and parents of applicants, have also been reduced, while the guarantor base has been diversified.
Providing statistics, she noted that since 2011, loans have been disbursed to 73,250 students, adding that about 38,031 of the grants were due for re-payment, while 5,931 grants have been fully recovered.