Akufo-Addo approved the “no-guarantor policy” for higher education students – Minister of Education

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Education Minister Dr. Yaw Osei Adutwum has revealed that tertiary students can now apply for loans without a guarantor.

This follows the introduction of the “no-guarantor policy” which was approved and signed into law by President Akufo-Addo.

Speaking at a meeting with the management of the Kwame Nkrumah University of Science and Technology (KNUST) on the postponement of some 6,000 students, the Bosomtwe lawmaker said the move was part of government efforts to improve access to education in the country.

“The good news is that Nana Akufo-Addo has given her approval for the implementation of what is called the “no-guarantor policy” which is now the law of the land, which means that students can apply for ready to receive the money without a guarantor.,” he said.

He added that the management of the Student Loans Trust Fund (SLTF) will effectively engage students who may need financial support to pay their tuition fees.

Currently, students will need to produce their Ghana Card to access the loans.

According to Adutwum, studies have shown that implementing this policy will lead to a 60% increase in demand for student loans.

“Traditionally, the SLTF has relied on GETFUND funding, the Communication Services Tax and loan recovery from borrowers to deliver on its mandate.

“With the increasing demand for student loans, the major challenge for this council will be to explore new sources of finance to meet the needs of Ghanaian students,” he said at the inauguration of the new council. of the SLTF last year.

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