The Student Loan Trust Fund (SLTF) has marked its 20th anniversary with the launch of its 2026–2030 Strategic Plan, unveiling major reforms aimed at expanding access to higher education financing and strengthening the sustainability of the fund.
Speaking at the anniversary celebration, the Chief Executive Officer of the Student Loan Trust Fund, Dr. Saajida Shiraz, highlighted significant achievements and new initiatives designed to improve support for students across the country.
Dr. Shiraz announced that the SLTF has enhanced its loan package, increasing the annual loan amounts available to students. Under the revised scheme, students can now access loans ranging from GH₵2,250 to GH₵4,500 per academic year, providing greater financial support to meet educational needs.
She also revealed a substantial reduction in interest rates on student loans. The previous 12 percent compounded interest rate has been replaced with a concessional 6 percent simple interest rate during the study and moratorium periods, making repayment more affordable for beneficiaries.
According to the CEO, the fund has disbursed GH₵127 million in enhanced loans directly to 6,679 students enrolled in public and private tertiary institutions nationwide. She noted that the intervention has successfully addressed the long-standing issue of delayed disbursements, restoring confidence in the student loan scheme.
Dr. Shiraz expressed appreciation to GETFund for its financial support, which she said played a crucial role in the successful implementation of the enhanced loan programme.
As part of efforts to improve service delivery, the SLTF has introduced a digital account-opening system that allows students to open bank accounts directly through the fund’s online portal. This enables beneficiaries to receive loan disbursements without visiting a banking hall, significantly improving convenience and accessibility.
To ensure the long-term sustainability of the scheme, Dr. Shiraz said the fund has strengthened its loan recovery framework through strategic collaborations with key state institutions, including the Controller and Accountant-General’s Department, the Ghana Revenue Authority, the Registrar-General’s Department, the National Identification Authority, and the Social Security and National Insurance Trust (SSNIT).
She explained that these partnerships are helping to improve loan recovery processes, enhance accountability, and build a financially sustainable student loan system capable of supporting future generations.
Dr. Shiraz reaffirmed the SLTF’s commitment to expanding educational opportunities and ensuring that financial challenges do not prevent qualified students from accessing higher education.
The 20th anniversary celebration and the launch of the 2026–2030 Strategic Plan underscore the Student Loan Trust Fund’s vision of creating a more accessible, innovative, and sustainable financing system for tertiary education in Ghana.
