The Executive Director of Global InfoAnalytics, Mussa Danquah has shared his perspective on student allowances, suggesting that the government should abolish the current allowance system and replace it with student loans.
In an interview on GHOne TV with Serwaa Amihere, he made a compelling argument for the need to reassess the allocation of resources to student allowances, suggesting that they should be replaced with loans that students would repay once they begin working.
Mr. Danquah emphasized the importance of reviewing government spending, particularly in light of the current economic challenges facing the country.
He noted that with aid from donor countries being reduced, Ghana’s priorities must shift to address its growing financial needs. “Loans to students will be recoverable, unlike allowances. We must reconsider how we allocate resources, especially when it comes to funding education. It’s essential to think about the long-term sustainability of such financial commitments”, he said.
He went on to explain that, at this time, allowances should be re-evaluated, given the country’s current economic situation. “For now, I think student allowances should go. It should be replaced with a loan system, where students can pay back once they begin earning after graduation,” he stated.
Mr. Danquah also pointed out that the allocation of funds toward student allowances may no longer be as viable in the face of the global economic landscape, where donor countries are cutting back on aid to Ghana. “We need to look at priorities, and for now, allowances should be reconsidered. By shifting to loans, students can benefit from the financial support they need now, and future repayment will help sustain the system,” he argued.
Source: Ghana/Starrfm.com.gh/103.5FM/Deborah Amuzu
