The Students Loan Trust Fund (SLTF) has introduced a comprehensive set of reforms aimed at making tertiary education more accessible and affordable,
The Students Loan Trust Fund (SLTF) has introduced a comprehensive set of reforms aimed at making tertiary education more accessible and affordable, in line with directives from President John Dramani Mahama.
In a statement released on Friday, November 7, the SLTF announced that the reforms — including higher loan amounts, lower interest rates, and simplified application procedures — are part of government efforts to promote equity and inclusivity in higher education.
A central feature of the reform package is the launch of “Students Loan Plus”, a flagship initiative under the No Fees Stress programme, which provides full tuition coverage for tertiary students. Funds will be disbursed directly to institutions to ease the financial strain of upfront fee payments on students and families.
Additionally, loan amounts under the regular scheme have been increased by 50 per cent, with beneficiaries now eligible for between GH¢2,250 and GH¢4,500 per academic year — a move expected to cushion students against rising tuition and living costs.
To further ease financial pressure, the interest rate on student loans has been cut from 12% compound interest to 6% simple interest during the study and moratorium periods, significantly reducing repayment burdens for graduates.
The Fund has also streamlined its application process by removing the long-standing E-zwich requirement. Under the new system, GCB Bank accounts will be automatically created for applicants through the No Fees Stress portal, enabling faster and more efficient disbursement.
Operating under the Ministry of Education, the SLTF reaffirmed its commitment to promoting inclusive and equitable access to tertiary education, describing the reforms as a testament to government’s dedication to empowering Ghana’s youth.
“These reforms demonstrate a clear commitment to expanding educational opportunities and supporting Ghana’s youth,” the statement said. “By reducing barriers to access and making funding more flexible, we are investing directly in the nation’s human capital and future prosperity.”