Student loans increased by 50%

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The government through the Ministry of Education has increased the financial allocations of students enrolled on the Student Loan Trust Fund programme by 50 per cent.

This is in fulfillment of the New Patriotic Party Manifesto promise made in the lead up to the 2016 elections.

The then opposition NPP said: “We will also abolish the payment of utility bills by students. We will also increase the amount of loans under the Student Loan Scheme and restructure to streamline its administration to enhance recovery of the loans.”

“The NPP will place emphasis on the continuous linkage of academia with industry and the world of work to ensure curriculum relevance, thereby reducing graduate unemployment,” it added.

A statement signed by the Head of Public Relations at the Ministry, Vincent Asafuah, confirming the increase indicated that an amount of GHC38,441,088 has been disbursed as full payment to the National Commission for Tertiary Education for onward payment to Principals conference in respect of the colleges of Education feeding, of which the Students Loan Trust Fund is part.

Speaking to the Chief Executive Director of the Fund, Nana Agyei Yeboah said government was committed to ensuring that hindrances to quality education are alienated.

“Hitherto, the minimum amount given to beneficiaries was GHS 1,000 and it was capped at GHS 2,000 which was directly linked to needs assessment Government has subsequently increased the minimum amount to GHS 1,500 and maximum 3,000,” he said.

-Starrfmonline

ABOUT: Nana Kwesi Coomson

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A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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