Over 59,000 Ghanaian students receive GH¢210m in enhanced loans as SLTF expands support

The Student Loan Trust Fund (SLTF) has disbursed GH¢210 million in enhanced student loans to 59,300 tertiary students this year, marking a significant expansion of government support for higher education access across Ghana. According to Dr Saajida Shiraz, Chief Executive Officer of the SLTF, the scale of disbursements reflects renewed government commitment to removing financial barriers that prevent qualified students from pursuing tertiary education.

Speaking on JoyNews' The Pulse, Dr Shiraz emphasised that meeting all loan demands this year was possible due to increased government prioritisation of student financial support. The expanded funding demonstrates a policy shift aimed at ensuring that economic circumstances do not determine educational opportunity for Ghanaian youth.

Expanding beyond traditional support

Beyond conventional student loans, the SLTF has broadened its reach through the Student Loan Plus initiative, which benefited 1,997 students this year. A notable component of this expansion targets professional legal education, with 626 students enrolled at the Ghana School of Law receiving direct fee support worth approximately GH¢20 million.

This extension of support to law students followed a directive from President John Mahama to strengthen financing for persons pursuing professional qualifications in the legal field. The initiative recognises the critical role legal professionals play in Ghana's governance and development agenda.

The Fund has also established dedicated support for tertiary students with disabilities, having spent GH¢10 million to cover tuition and residential payments. This targeted intervention acknowledges barriers faced by disabled learners in accessing higher education and represents a step toward inclusive educational access.

Why this matters for Ghana

Student financing is central to Ghana's human capital development strategy. By ensuring that financial constraints do not prevent capable students from accessing tertiary education, the SLTF contributes to building a skilled workforce needed for economic growth and sectoral development. The enhanced loan scheme directly supports the government's education agenda and helps address skills gaps across critical sectors.

However, the SLTF's current model has limitations. While loans enable access, they create debt burdens for graduates—a concern in a job market where graduate unemployment remains a challenge. The focus on loans rather than grants means disadvantaged students may graduate with significant financial obligations that could affect their early career choices and economic independence.

The government is working on a policy framework to extend additional support beyond loans, including stipends and assistive learning devices for students with disabilities. Such measures could significantly improve educational outcomes for vulnerable student populations and reduce dropout rates driven by economic hardship.

Looking ahead

The continued expansion of student financial support reflects government recognition that investment in tertiary education produces long-term economic and social returns. As Ghana seeks to increase graduate output in critical fields—from law to STEM disciplines—removing financial barriers becomes increasingly important for national competitiveness and development.

Success will depend on whether expanded financing translates into improved completion rates, graduate employment outcomes, and whether forthcoming policy measures on stipends and assistive devices reach those most in need of support.