Govt needs GH¢189m next year to provide loans for students

The Students Loan Trust Fund (SLTF) has projected that it will cost the government at least GH¢189 million to provide loans for almost 50,000 tertiary students who are likely to apply for loans in the 2020/2021 academic year.

The estimated student population represents 10 per cent of the annual tertiary enrolment, which is expected to hit 145,000 in the 2020/2021 academic year.

The Chief Executive Officer (CEO) of the SLTF, Nana Kwaku Agyei Yeboah, said the fund was expecting a huge increase in applications for financial assistance when the first batch of free SHS students graduates in 2020.

According to its projections, if the number of students increased by 15 per cent, GH¢284 million would be required, and if it hit 20 per cent, GH¢378 million would be the budget.

Currently, 27,000 continuing students are benefitting from the loan.