Students in tertiary institutions will no longer need a guarantor to access loans from the Students Loan Trust Fund (SLTF) under the newly launched No Guarantor Student Loan Policy.
The policy, launched by Vice President Dr. Mahamudu Bawumia at the Kwame Nkrumah University of Science and Technology (KNUST), allows students to apply for loans using only their admission letter and Ghana Card.
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Dr. Bawumia said the initiative is aimed at removing barriers to tertiary education and forms part of the government’s digitalisation agenda, with the Ghana Card serving as the primary means of verifying applicants.
Education Minister Dr. Yaw Osei Adutwum said the policy would increase tertiary enrolment and help develop the skilled workforce needed for national development.
SLTF Executive Director Nana Kwaku Agyei Yeboah described the previous guarantor requirement as a major obstacle for many students and expressed confidence that the new system would expand access to financial support.
Meanwhile, National Union of Ghana Students (NUGS) President Dennis Appiah Larbi-Ampofo welcomed the policy but urged the government to ensure student loans begin accruing interest only after beneficiaries complete their studies.
