The Students Loan Trust Fund (SLTF) has announced significant changes that will take effect from the 2025/2026 academic year, including an upward review of loan amounts. Consequently, students will now be able to access between GH¢2,250 and GH¢4,500 per academic year, compared to the previous GH¢1,500 to GH¢3,000 range.
Alongside the increased loan thresholds, the SLTF has also reduced the interest rate on student loans. The prevailing rate, formerly set at 12 per cent annual compound interest, has now been cut to six per cent simple interest throughout both the study period and the moratorium.
These adjustments form part of broader reforms initiated after President John Dramani Mahama directed the SLTF to revise loan amounts and introduce measures to boost affordability, accessibility, and equity in tertiary education financing.
As part of the reforms, the SLTF has simplified the loan application and disbursement process, removing the mandatory E-zwich requirement. According to a statement signed by the Chief Executive Officer, Dr. Saajida Shiraz, “GCB Bank accounts for disbursement will now be created automatically within the No Fees Stress portal for all new applicants.”
The statement further indicated that the SLTF has rolled out Students Loan Plus, a component of the No Fees Stress Initiative, which offers students full fee-coverage loans paid directly to tertiary institutions.
“Under the auspices of the Ministry of Education, SLTF remains committed to enhancing equitable access to affordable and inclusive tertiary education in Ghana,” it added.
These reforms, aligned with President Mahama’s reset agenda, are expected to significantly ease the financial burden on tertiary students nationwide.
