The Students Loan Trust Fund (SLTF) has rolled out sweeping reforms under President John Dramani Mahama’s Reset Agenda, increasing loan amounts by 50%, cutting interest rates in half, and introducing a new Students Loan Plus package to cover full tertiary fees.
SLTF Implements Key Reforms to Support Tertiary Education
The Students Loan Trust Fund (SLTF) has announced a comprehensive set of reforms aimed at improving affordability, accessibility, and fairness in Ghana’s tertiary education financing system. The reforms form part of President John Dramani Mahama’s Reset Agenda, which prioritizes inclusive and equitable education for all.
The measures were unveiled in an official statement signed by Dr. Saajida Shiraz, Chief Executive Officer of the SLTF, on November 7, 2025.
1. Introduction of “Students Loan Plus”
A key feature of the reform package is the introduction of the Students Loan Plus, a component of the government’s No Fees Stress Initiative. This new facility provides full tuition coverage loans to tertiary students, with funds disbursed directly to their respective institutions.
The Students Loan Plus is expected to benefit students who struggle with upfront tuition payments and offer relief to parents and guardians by ensuring timely fee settlement for admitted students.
2. 50% Increase in Regular Students Loan Amounts
The SLTF also announced a 50% upward adjustment in regular loan amounts for tertiary students. The new loan range now stands between GHS 2,250.00 and GHS 4,500.00 per academic year, compared to previous amounts disbursed directly to students.
This increase is intended to reflect current economic realities and provide sufficient financial support to cover accommodation, learning materials, and other educational expenses.
3. Interest Rate Reduced from 12% to 6%
In another major reform, the interest rate on student loans has been significantly reduced from 12% compound interest to 6% simple interest throughout the period of study and the moratorium.
This change is designed to ease the repayment burden on graduates and make tertiary financing more student-friendly. Under the new policy, borrowers will accrue less interest, encouraging more students to apply without fear of excessive post-graduation debt.
4. Simplified Application and Disbursement Process
The SLTF has also eliminated the E-zwich requirement previously needed for loan applications. Instead, GCB Bank accounts will be created automatically through the No Fees Stress digital portal for all new applicants.
This reform aims to streamline the loan process, reduce administrative delays, and ensure that students receive funds more quickly and efficiently.
Commitment to Equity and Accessibility
According to the SLTF, these changes are in direct response to the President’s directive to make tertiary education more accessible to all Ghanaians, regardless of background or financial status.
“Under the auspices of the Ministry of Education, SLTF remains committed to enhancing equitable access to affordable and inclusive tertiary education in Ghana,” the statement read.
Public Reaction and Policy Context
Education analysts and student groups have welcomed the reforms as timely, given the rising cost of tertiary education and the challenges faced by many students in meeting fee obligations. The reduction in interest rates and the introduction of full-fee coverage loans are expected to significantly ease financial stress among university and college students.
The Reset Agenda, launched earlier this year, outlines a series of education-centered interventions, including support for technical and vocational education, expansion of tertiary infrastructure, and investment in student welfare.
Conclusion
The new SLTF reforms mark a turning point in Ghana’s higher education financing system. With increased loan amounts, lower interest rates, and simplified access, the government aims to build a more inclusive and sustainable tertiary education model that empowers Ghanaian youth for national development.
Source: Students Loan Trust Fund (SLTF)
Date: November 7, 2025
Discover more from EducationGhana
Subscribe to get the latest posts sent to your email.
