In a landmark policy move aimed at enhancing access to tertiary education, Ghana’s Minister for Education, Hon. Haruna Iddrisu, has announced a significant increase in financial allocation to the Students Loan Trust Fund (SLTF).
The fund, which supports students in universities, polytechnics, and colleges, will see its allocation from the Ghana Education Trust Fund (GETFUND) more than doubled—from GH¢70 million to GH¢150 million.
This announcement was made on Friday, July 4, 2025, during the national launch of the “No Fees Stress” policy, a flagship initiative designed to ease the financial strain on first-year tertiary students.
Held at the Seventh-day Adventist College of Education in Asokore, the event drew stakeholders from across the education sector, student unions, and civil society groups.
According to the Minister, the GH¢80 million increase is not only a bold investment in Ghana’s future workforce but also a response to the financial distress many students face, especially at the start of their academic journeys.
“No qualified student should have their dreams cut short due to affordability. This increased allocation is a direct commitment to removing such barriers,” said Mr. Iddrisu.
The impact of the boost is expected to be substantial. In the 2023/2024 academic year alone, the SLTF disbursed loans to approximately 100,000 tertiary students. With the expanded budget, the fund is projected to support tens of thousands more students, reducing dropout rates and promoting academic continuity across institutions.
The Minister also used the occasion to unveil a second major education reform: a complete overhaul of Ghana’s scholarship administration framework.
He announced his intention to introduce the Scholarship Authority Bill in Parliament. The bill aims to eliminate systemic issues of nepotism, favouritism, and non-transparent allocations that have historically plagued the system.
“The new Scholarship Authority Bill will be guided by principles of fairness, transparency, and meritocracy,” Mr. Iddrisu declared.
“Every deserving Ghanaian student—regardless of background or connection—must have a fair shot at support based on need and performance,” he added.
The Minister’s statements drew enthusiastic reactions from education stakeholders and students present at the launch.
Many commended the government for taking proactive steps to strengthen the financing framework for tertiary education, viewing it as pivotal to national progress in a knowledge-driven global economy.
These developments come amid broader government efforts to streamline and reform the education sector, which has been a consistent focus of policy under President John Dramani Mahama’s administration.
The government has emphasized equity, innovation, and infrastructure development as pillars for transforming Ghana’s education landscape.
TTAG (Teacher Trainees’ Association of Ghana) and other student-based advocacy groups have welcomed the reforms.
In a statement, TTAG called the “No Fees Stress” policy and SLTF loan increment “a victory for education equity in Ghana.”
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