50% Increase in Student Loans Announced: Ghana’s Tertiary Students to Receive Up to GHS 4,500 Annually

The Students Loan Trust Fund (SLTF) has increased loan amounts by 50%, allowing Ghanaian tertiary students to access up to GHS 4,500 per year, with new reforms under President Mahama’s Reset Agenda aimed at expanding access and affordability.

Massive Boost for Students as SLTF Raises Loan Amounts

The Students Loan Trust Fund (SLTF) has announced a major increase in student loan packages as part of sweeping reforms to improve financial access to tertiary education in Ghana.

Under the new structure, loan amounts have been increased by 50%, bringing the range to GHS 2,250.00 – GHS 4,500.00 per academic year. The increase comes amid rising living costs and growing calls from student unions for enhanced financial support.

Part of Mahama’s Education Reset Agenda

These reforms were announced on November 7, 2025, following a directive from President John Dramani Mahama under his Reset Agenda, which seeks to strengthen tertiary education financing and promote inclusivity across public and private institutions.

The new measures are designed to align Ghana’s education financing system with global best practices, ensuring that no qualified student is denied tertiary education because of financial barriers.

Launch of the Students Loan Plus Initiative

The announcement also introduced a new flagship scheme known as Students Loan Plus, which forms part of the No Fees Stress Initiative.

This initiative allows tertiary students to receive full fee coverage loans disbursed directly to their universities or colleges. It targets students from low-income households and aims to end the cycle of school dropouts due to unpaid tuition fees.

The SLTF explained that the Students Loan Plus will complement existing regular loan arrangements and expand the financial safety net for students across Ghana.

Simplified Access: No More E-zwich Requirement

In addition to financial increases, the SLTF has removed the E-zwich requirement for loan applications. Instead, GCB Bank accounts will be automatically created for all new applicants within the No Fees Stress portal.

This reform streamlines the application and disbursement process, reducing bureaucratic delays and making the system more efficient for both students and administrators.

Interest Rate Slashed from 12% to 6%

As part of the broader reform, the interest rate on all student loans has been reduced from 12% compound interest to 6% simple interest during the study and moratorium periods. This makes Ghana’s student loan scheme one of the most affordable in West Africa.

Policy analysts say this move will greatly reduce the financial burden on graduates and encourage higher participation in tertiary education.

Government’s Commitment to Equal Opportunity

According to the SLTF, the reforms are a direct response to President Mahama’s directive to ensure affordable, equitable, and inclusive access to tertiary education.

“We remain committed to enhancing equitable access to affordable and inclusive tertiary education in Ghana,” said Dr. Saajida Shiraz, Chief Executive Officer of the SLTF.

She emphasized that the reforms reflect a new phase of social responsibility and financial innovation in Ghana’s education sector.

Stakeholder Reactions

Student leaders across various universities have praised the reforms, calling them a “lifeline” for thousands of students who struggle to meet financial obligations. Many expressed optimism that the new Students Loan Plus scheme will reduce the number of students forced to defer their studies due to unpaid fees.

Economists and education experts have also noted that these policies could help close the financial gap in tertiary education and improve Ghana’s human capital development outcomes.

Conclusion

With higher loan amounts, lower interest rates, and easier access, the Students Loan Trust Fund is reshaping the future of tertiary education financing in Ghana. The 2025 reforms under President Mahama’s Reset Agenda signal a renewed national commitment to supporting the youth and building a more inclusive knowledge economy.