More than 70,000 students will benefit from the Students Loan Trust Fund (SLTF) for the 2022/2023 academic year.

This represents a 100 per cent increase over the 2021/2022 academic year figure of 32,744 students.

The prospective tertiary students across the country would be able to access the SLTF portal either through the organisation's website or by downloading the Students Loan App.

The Chief Executive Officer (CEO) of SLTF, Nana Kwaku Agyei Yeboah, who announced this to the media in Accra on Friday, attributed the increase in the number of beneficiaries to the introduction of 'No Guarantor Policy' last year.

He said efforts were being made to ensure that many students had access to the loan facility to support their education.

Nana Agyei Yeboah stated that there were currently 32,744 beneficiaries on the SLTF from 110 tertiary institutions across the country, to whom GH¢64,645,575.00 was disbursed in the 2021/2022 academic year.

Mr Yeboah encouraged students to take advantage of the new policy to access subsidised financing for their tertiary education.

Background

The government, through the SLTF, launched the 'No Guarantor policy' in June 2022, with the sole aim of easing the difficulty applicants faced in accessing loans to support their education in tertiary institutions.

With the introduction of this policy, student loan applicants no longer need guarantors to access the loan.

It is, therefore, expected that the removal of the guarantor requirement would lead to an increase in the number of students who can access the loan.