The Ministry of Finance has released GH¢20 million for loan disbursements to students attending both private and public tertiary institutions nationwide.
This funding, managed by the Student Loan Trust Fund (SLTF), is set to assist approximately 10,243 students who have applied for financial aid.
During a press briefing on Friday, the Chief Executive Officer of SLTF, Nuhu Bayorbo Mahama, announced that the trust fund has distributed around GH¢58 million to 54,658 students for the 2023/24 academic year.
He elaborated that approximately GHS27 million was allocated as allowances to 68,000 teacher trainees during the same period.
The CEO highlighted that the fund’s release will enable beneficiaries to register for their exams.
Mr Mahama noted a significant rise in demand for student loans following the government’s introduction of the ‘No Guarantor Policy’ two years ago.
Each beneficiary student is expected to receive between GH¢1,500 and GH¢3,000, depending on their needs.
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