The Chief Executive Officer for the Student’s Loan Trust Fund Nana Kwaku Agyei Yeboah has confirmed that the law requiring a guarantor for tertiary students to access loans from the trust has been amended.
According to him, the law was amended by parliament as part of the government’s policy to fulfil its constitutional mandate under Article 25 of the constitution.
He explained that the Student’s Trust Fund was instituted by the Kufour government to cushion students with financial challenges to enable them to get the life wire to secure their educational stance.
However, the guarantor system served as a barrier in the acquisition of loans by tertiary students from the Students Loan Trust Fund, he explained.
The CEO noted that the guarantor was a Social Security and National Insurance Trust (SSNIT), and for that reason, several students were deprived din accessing the loans.
But that is no longer the case because that system has been scrapped.
The new system will facilitate the provision of equal opportunities to everyone who wants to have access to higher education, he added.
Nana Kwaku Agyei Yeboah explained that the new system would be checked using the national identification system and digitalisation processes of the government, such as GPS for repayment of the loan.
”You no longer need a guarantor to secure a student a loan from the Trust. All you need is your Ghana Card. If you are a Ghanaian and you attend a recognised university, you are eligible for a loan.”
He disclosed that applicants should visit the official website of the Trust and apply for a students loan.
”There is no longer an impediment or a barrier to prevent p[eople from accessing tertiary education. Take advantage of the new system and apply,” he stated.
He made the remarks while speaking at the 3rd Congregation and Matriculation ceremony at the Ghana Withrow Nursing College at Asaama in the Sekyere South District over the weekend.