The Vice President has promised that all tertiary students except those in teacher and nursing training institutions will be able to secure loans without a guarantor if President Akufo-Addo is retained.
Dr Mahamudu Bawumia said the beneficiaries would only need their Ghana Card which will enable them to apply for loans to fund their education.
“All tertiary students except Teacher and Nursing trainees who will be on allowances will now be able to get the option to contain a student loan without the requirement of a guarantor,” he assured.
He noted that many do not want to risk putting their pension at risk by vouching for the students who apply for the loans hence the need to take that requirement off.
Speaking at the manifesto launch of the New Patriotic Party (NPP)’s for the 2020 elections, Dr Bawumia explained that the repayment of the loans will be extended beyond their completion of school.
“Once you complete the tertiary education, repayment will be deferred till after your National Service where you will be given one year to pay up,” he stated.
The Vice President explained that this move will aid in building the human capital of the country as people will be able to afford tertiary education.
The Student Loans Trust Fund (SLTF) was set up by government to give loans to Ghanaian tertiary students who are pursuing programmes in accredited tertiary institutions.
These students must have gained admission to pursue undergraduate programmes only.
Recently, the Fund published the list of defaulters and declared July 2020 Repayment Awareness Month and is undertaking various activities nationwide.