The Students Loan Trust Fund (SLTF) has revealed that it has successfully disbursed ₵289 million out of the ₵300 million released so far by the Ministry of Finance for the No Fees Stress Policy, a programme aimed at easing the financial burden on students in tertiary institutions across the country.
Addressing the media, the Chief Executive Officer of SLTF, Dr. Saajida Shiraz, said the Fund has so far supported 120,222 students nationwide, while an additional 22,000 validated applicants are awaiting payment. She assured that every eligible student under the policy has been captured and will be reimbursed in due course.
“So far we have validated about 143,000 students. We have paid 120,222 students as of today, and we have validated and yet to pay about 22,000 more students. There are also about 23,000 students with validation issues, but we are working with the institutions involved to resolve them,” Dr. Shiraz explained.
She detailed that the 23,000 students with validation issues face challenges such as name mismatches, programme mismatches, institutional mismatches, and discrepancies with student ID cards. According to her, these discrepancies are being corrected internally and in collaboration with tertiary institutions to ensure no qualified applicant is left out.
Dr. Shiraz further emphasized the transparency of the process, noting that every application is tracked and documented.
“Every Ghanaian and every student should be assured that all applicants are accounted for. We can provide data on any student and show the exact stage of their application. No one is being left behind under this policy,” she assured.
The CEO disclosed that the Ministry of Finance had earmarked ₵499.8 million for the policy’s rollout. Out of this, ₵300 million has been released, with the remaining balance expected soon.
“We are expecting the rest of the money very shortly. As soon as it comes in, those that are validated but pending disbursement will be paid immediately. By that time, we also expect to have resolved the outstanding validation challenges so we can close the chapter on the 2024/2025 academic year,” she added.
Dr. Shiraz cautioned against attaching rigid deadlines, stressing that while the SLTF hopes to complete payments within a month, the focus remains on ensuring equity and fairness.
“We believe every eligible student who has applied should receive their funds. That is our commitment. Even if it takes more time, we will ensure the process is fair and thorough before we begin preparations for the 2025/2026 academic year,” she noted.
The No Fees Stress Policy was announced as part of government’s education interventions and rolled out by the Students Loan Trust Fund (SLTF) in 2024. The 2024 Budget Statement outlined measures to support students, and government earmarked nearly ₵500 million to reimburse students who had paid fees, so that inability to pay upfront would not force deferrals or dropouts.
Dr. Shiraz concluded by reaffirming SLTF’s dedication to the initiative, promising that all validated and eligible applicants will be reimbursed without discrimination once the final tranche of funds is released.
Source: Starrfm.com.gh
