The Chief Executive Officer of the Student Loan Trust Fund (SLTF), Dr. Saajida Shiraz, has revealed that more than 310,000 students have benefited from the “No Fees Stress” initiative.
Speaking at a press conference in Accra last Friday, Dr. Shiraz stated that the government has allocated GH¢1.3 billion through the flagship educational program to the SLTF for disbursement.
Out of the total allocation, the trust fund has currently disbursed over GH¢830 million. The initiative reached 152,000 students last year alone, while 159,750 students have received the grant so far this year.
Dr. Shiraz indicated that disbursements are still ongoing, with the Fund targeting more than 173,000 students by the end of the current academic year once all validation processes are complete.
“Till date, we have disbursed about GH¢830 million of the funds to about 310,000 students in total. We did about 152,000 students last academic year, and this year, so far we have done about 159,750 students. We are targeting more than 173,000 students before the end of the academic year,” she said.
The initiative also heavily supports inclusivity, with 1,530 physically challenged students currently benefiting at a government expenditure of approximately GH¢9.3 million.
“This involves free full tuition payments and residential fee coverage paid directly to the schools. Under the initiative, an advisory has been sent to the tertiary institutions that once the person is physically challenged, they should onboard him or her and send us the bill. I am aware that the government is further exploring the provision of some stipends and other forms of assistance for such students,” she added.
Reflecting on the fiscal management and institutional capacity of the trust fund, Dr. Shiraz praised the government’s reliable backing while highlighting a major milestone in their digital infrastructure.
“We have so far received more than GH¢1 billion, and all of that is going towards grant for Ghanaian students. The government has been very committed in terms of advancing funds to us. Regarding our operational expenses, we had very little resources, but this has improved drastically. The portal we deployed for the implementation of No Fees Stress was built in-house with our resources and expertise,” she added.
Beyond the flagship grant, Dr. Shiraz explained that the fund manages the “Student Loan Plus” program, which allows applicants to secure an average loan sum of GH¢20,000 to cover higher-tier professional education.
“The President gave us a directive to expand coverage to students of the Ghana School of Law, and that is why we introduced the Student Loan Plus. So far, more than 878 students have benefitted, with about 600 of them from the Ghana School of Law.”
By: Rainbowradioonline.com/Ghana
