The New Patriotic Party NPP says it will abolish the system where students who seek for loans are asked to have guarantors before being approved of the loan from the Student Loan Trust Fund.
Speaking at the launch of the party’s 2020 manifesto in the Central Region on August 22, 2020, Vice president of the Republic of Ghana, Dr. Mahamadu Bawumia stated that beyond the Free Senior High School (SHS), the NPP is interested in the access and affordability of tertiary education.
He explained that prospective applicants will only be required to present a national Identity card to access the credit facility.
“So you don’t need a guarantor and all you need is your national ID card. That’s all and you will be accessing your loan and once you complete your education, repayment will be deferred after your tertiary education. You will get one year grace period after your national service, then you start paying,” he promised.
The Vice President identified that the link between tertiary education and economic development is growing rapidly as countries which have high tertiary enrollment have much higher levels of economic development.
“All tertiary students except teacher and nursing trainees who will be on allowances but all tertiary students will now be able to get an option to obtain a student loan without the requirement of a guarantor”, he added.
He further opined that “once you complete the tertiary education, repayment will be deferred after your national service you will get a one-year grace after service before you start paying”.
He further stated that the NPP “will also complete the provision of free WIFI at all senior secondary schools and all public tertiary schools, the project has already started and the ECG is levering its fiber network across the country and even before the end of this year, we will be starting from the ECG perspective on the tertiary institutions”.
Story by: Grace Efia Ofua Arkoh and Eli Djomekou | universnewsroom.com