The Student Loan Trust Fund (SLTF) says it is mobilizing internally generated funds to make payments of tertiary institution students loans despite funding challenges it is currently facing amid economic hardship in the country.
The assurance comes after the National Union of Ghana Students (NUGS) reported to SLTF it had received several complaints from students nationwide about the non-payment of student loans after a long period of applications.
“It’s even more worrying to note that some institutions have issued notices, warning students of the closing registration deadline, an example is the University of Business and Integrated Development (UBIDS-WA) amongst others
KNUST is set to write mid-semester exams from February 27 2023, it’s unfortunate that several students risk not being able to write the exams due to their inability to pay their fees as a result of non-payment of student loans,” NUGS said in a letter to the Fund.
To ensure no student is deferred, NUGS in the letter urged the Loan Fund to as a matter of urgency pay qualified applicants for the student loan immediately adding that students are at risk of deferring if loans are not paid on time.
But following the leadership of the National Union of Ghana Student’s emergency visit aimed at getting the release of the funds to university students immediately the management of the Fund has assured to pay the loan this month.
In a statement shared with AcademicWeek, the National Students Union said the Student Loan Trust Fund from March 14, 2023, will commence the payment of the delayed loan to eligible tertiary students for this academic year.
“The SLTF assured the student leadership that regardless of the funding challenges that they are facing, they are mobilizing internally generated funds to make payments to students commencing on March 14, 2023,” it said.
NUGS in the release added, “the SLTF also bemoaned one of the key challenges causing the delays is the failure of the various tertiary institutions to submit their verified student list to ensure that only these students are paid the loan.”
Out of the more than 120 institutions eligible to access the fund, the management of the Loan Trust Fund indicated that only 29 institutions have submitted their verified lists of students to be granted the tertiary student loan.
NUGS following the Fund’s assurance has entreated students to calm down. “We call on our various local secretariats on campuses with special and urgent situations to reach out to the National Secretariats for immediate assistance,” it said.