The Minister of Education, Haruna Iddrisu, has revealed the government’s plans to transition teacher training allowance into an enhanced student loan scheme.
This move, according to the Minister, aims to empower trainees to cover their own feeding and personal expenses.
Speaking at a meeting with Principals of Colleges of Education in Accra, Mr. Iddrisu explained that while the allowances would be maintained in the interim, the government intends to gradually phase out the allowance system.
“There is no way you should be feeding a student at the tertiary level offhand,” stated the Minister.
The plan to transition students onto the enhanced student loan scheme is part of the government’s efforts to address delays in their financial support.
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However, the Minister noted that any decision regarding this transition will be based on recommendations from the upcoming education dialogue proposed by President John Dramani Mahama.
During the meeting, Mr. Iddrisu also acknowledged the challenges facing colleges of education, including infrastructure deficits and a lack of academic facilities.
He assured the principals that the government would allocate resources to address these issues, despite competing demands from various educational levels.
The transition to the student loan scheme means that the allowance will be scrapped in order to allow trainees to access the student loan.
It has been disclosed that all arrears owed to trainees would be paid before the transition to the enhanced student loan scheme takes place.
SEE ALSO: Mahama’s Education Policy: Will Trainees’ Allowances Be Scrapped?
Eligibility Requirements for Student Loan
To apply for a student loan from the Students Loan Trust Fund (SLTF) in Ghana, prospective applicants need to ensure that both their institution and programs qualify.
Here are the key requirements:
- Accredited Tertiary Institution: The school must be a tertiary institution accredited by the Ghana National Accreditation Board (NAB).
- Accredited Programs: The programs being offered must also be accredited by the NAB.
- Ghanaian Citizenship: The loan is available only to Ghanaian citizens who are living and schooling in Ghana.
- Financial Need: Only applicants who demonstrate financial need will be considered.
These requirements ensure that the loan serves those who are genuinely in need and supports their educational journey.
SEE ALSO: How to Apply for a Student Loan, Eligibility & Requirements
Amount Granted
The amount of the student loan provided by the Students Loan Trust Fund (SLTF) varies based on the needs assessment of the applicant.
Currently, the loan amount ranges between GHS 1,500 and GHS 3,000 per academic year.
This range is designed to help cover personal expenses such as fees, boarding, lodging, books, equipment, and other necessary costs related to the course of study