Regular students are set to receive a 50 per cent increase in student loans from the Students Loan Trust Fund (SLTF).
Loan amounts are now in the range of GH¢2,250 to GH¢4,500 per academic year, compared to the previous GH¢1,500 to GH¢3,000.
The SLTF has reduced the interest charged on loans, with the prevailing interest rate on student loans having been reduced from 12 per cent annual compound interest to six per cent simple interest during the period of study and the period of moratorium.
Loans for fees will now be directly disbursed to the tertiary institutions in the newly introduced “Students Loan Policy”, under the No Fees Stress Initiative.
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