The Students Loan Trust Fund (SLTF) has announced a 50 percent increase in loan amounts for regular students, as part of sweeping reforms to make tertiary education more affordable and accessible.
With the adjustment, loan amounts will now range from GH¢2,250 to GH¢4,500 per academic year, up from the previous GH¢1,500 to GH¢3,000. The SLTF has also cut interest rates from 12 percent annual compound interest to six percent simple interest, applicable during both the study period and moratorium.
These changes, which take effect from the 2025/2026 academic year, align with President John Dramani Mahama’s directive for loan revisions and broader reforms under his reset agenda.
According to SLTF CEO Dr Saajida Shiraz, the Fund has simplified its application and disbursement process. Applicants will no longer need an E-zwich card, and GCB Bank accounts for disbursements will be automatically created through the No Fees Stress portal.
The statement further introduced Students Loan Plus, a new feature under the No Fees Stress Initiative that provides full fee coverage loans paid directly to tertiary institutions. The SLTF reaffirmed its commitment to ensuring equitable access to affordable and inclusive tertiary education in Ghana.
