By: Kekeli K. Blamey
The Students Loan Trust Fund (SLTF) has announced a disbursement of GH¢20 million to support 13,500 beneficiaries in tertiary institutions, primarily aimed at final-year and continuing students for the second semester of the academic year. This brings the total loans disbursed in 2023 to GH¢60 million. CEO Nuhu Bayorbo highlighted that about GH¢15 million of the latest disbursement specifically supports final-year students, while efforts are underway to assist the remaining continuing students by December.
In August, the SLTF successfully recovered around GH¢13 million from debtors during a designated repayment month, underscoring their goal to recoup GH¢80 million for the year. Bayorbo emphasized the importance of repayments, noting that individuals who fail to do so risk damaging their credit scores, which can hinder their ability to secure future loans.
The introduction of a “No guarantor system” has significantly increased enrollment, with the number of applicants rising from 25,000 to 57,000 this year, including over 30,000 first-time applicants. Additionally, the SLTF has allocated GH¢60 million for the allowances of 67,000 teacher trainees, though 1,500 students still face issues related to their ezwich cards. Each trainee receives GH¢400 monthly as part of this support. Overall, the SLTF aims to enhance access to education while encouraging responsible repayment practices among borrowers.
