Ghana Government to Extend Student Loan Scheme to Private Universities

Ghana Government to Extend Student Loan Scheme to Private Universities

In a major policy reform, the Government of Ghana announced that it will expand its Student Loan Scheme to include students who are pursuing courses in private tertiary institutions. This is to give such students access to funding irrespective of whether their universities are private or public.

The Trustee Incorporation Act 1962, Act 106, Student Loan Trust Fund (SLTF) has hitherto offered loans to students in authorized public tertiary institutions. Nevertheless, those in private institutions have been excluded from such financing despite the same financial issues.

In the swearing-in of the new members of the SLTF on April 29, 2025, Education Minister Haruna Iddrisu announced that the government is planning to extend the loan package to include students pursuing their degrees in private tertiary institutions. In his opinion, most of the students studying in private universities have financial constraints and should not be deprived of education financing on the basis that they study in private universities.

The main intentions of extending the loan program to private universities are:
Equitable Access: To provide all Ghanaian students, regardless of university, with equal access to funding to pursue their education.
Support for Private Institutions: Providing assistance to the role of private universities to national education and giving them the funding they need to sustain their students.

Increased Educational Outcomes: Reducing monetary barriers that interfere with the performance and graduation rate of the students.
The SLTF is creating an internet portal for loan application to simplify the application and disbursement process. The portal will endeavor to make loan availability simple for students and provide monetary assistance in a timely fashion.
The extension of the Student Loan Scheme to private tertiary institutions by the government is a step towards inclusive progressive financing of education in Ghana. Through increased access to financing, the government seeks to make more students have access to and be able to finish tertiary level education, hence partaking in developing the country.