The government has launched a new No Guarantor Student Loan Policy, allowing students in tertiary institutions to access loans from the Students Loan Trust Fund (SLTF) using only an admission letter and a Ghana Card.
Vice President Dr. Mahamudu Bawumia launched the policy at the Kwame Nkrumah University of Science and Technology (KNUST), describing it as a major step toward making tertiary education more accessible and fulfilling the government’s 2020 manifesto promise.
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Dr. Bawumia said the initiative was made possible through Ghana’s digitalisation agenda, explaining that the Ghana Card now provides the necessary information to verify applicants and facilitate loan recovery without the need for guarantors.
He added that the Ghana Card has become a key national identification tool, serving as the National Health Insurance Scheme (NHIS) number, Social Security and National Insurance Trust (SSNIT) number, and Tax Identification Number (TIN), with plans to link bank accounts to the card.
Education Minister Dr. Yaw Osei Adutwum said the policy would increase tertiary enrolment by removing financial barriers, while SLTF Executive Director Nana Kwaku Agyei Yeboah noted that the new system would enable more qualified students to access financial support.
The President of the National Union of Ghana Students (NUGS), Dennis Appiah Larbi-Ampofo, welcomed the initiative but urged the government to ensure that student loans begin accruing interest only after beneficiaries complete their studies.
