Sunday, July 3, 2022
  • Home
  • About
    • Editorial Guidelines – Accuracy
    • Trust and transparency
  • Advertise
  • Login
  • Register
Ghana News - GhStandard
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
    • Profiles
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Real Estate
    • Ghana – Economy
    • Finance News
    • List of Businesses
    • Life in Ghana
    • Faith and Business
    • Digital Marketing
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
  • World
No Result
View All Result
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
    • Profiles
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Real Estate
    • Ghana – Economy
    • Finance News
    • List of Businesses
    • Life in Ghana
    • Faith and Business
    • Digital Marketing
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
  • World
No Result
View All Result
The Ghanaian Standard
No Result
View All Result
Home General

Ghana removes barriers to tertiary education as Vice President Dr Bawumia launches No Guarantor Student Loan policy

The Ghanaian Standard by The Ghanaian Standard
June 12, 2022
in General
Reading Time: 4 mins read
A A
Dr Bawumia, No Guarantor Student Loan policy, Tertiary education in Ghana
ShareTweetSend

The Vice President, Dr Mahamudu Bawumia has launched the No Guarantor Student Loan Policy at the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi, on Wednesday, June 8, 2022. 

The No Guarantor Student Loan Policy, a promise by the Akufo-Addo government prior to the 2020 elections, is to make tertiary education accessible to Ghanaian youth, especially graduates from the highly subscribed Free Senior High School policy. 

ADVERTISEMENT

With the No Guarantor Student Loan Policy, the cumbersome and restrictive policy of students providing three SSNIT contributors as guarantors before they could access student loans for tertiary education has been abolished. The No Guarantor Student Loan Policy Dr Bawumia explained, makes it possible for qualified young Ghanaians to access loans to fund their tertiary education, using their Ghana card.

Removal of barriers to tertiary education

Speaking at the launch, Vice President Bawumia said, the coming into fruition of the pro-poor policy, will remove barriers and significantly increase inclusive access to tertiary education.

“The removal of the guarantor requirement is a critical first step to ensuring cost is not a barrier to access and participation in tertiary education,” Dr Bawumia said.

“Indeed, these are exciting times to be a youth in Ghana. One can go through education from basic to tertiary with guaranteed support from Government.”

ADVERTISEMENT

The Vice President noted that globally, loans have enabled financially challenged individuals to go through Universities and pay after graduation and the government of President Akufo-Addo recognised this need, and the challenges associated with students getting guarantors to secure loans, hence the introduction of the No Guarantor Policy to ease the burden of parents of qualified Free SHS graduates.

Expressing his delight over the launch of the policy and how it will help the poor, Dr Bawumia gave startling statistics of how many students are unable to access guarantor-required student loans, thus, possibly being denied access to tertiary education.

“Evidence shows that the guarantor requirement poses a barrier to access. Out of the 325,000 eligible students whose details were submitted by all the tertiary institutions on the Student Loans portfolio, only 9.6% could access the loan in the 2019/20 academic year,’ Dr Bawumia revealed.

“Similarly, only 8.4% of eligible students could access loans in 2016/2017, 9.8% in 2017/18 and 8.6% in 2015/16. Further, in the 2019/20 academic year, 42% of the 7,552 loan applicants could not submit their completed forms because of difficulty finding eligible guarantors,” he added.

“We promised to remove the guarantor requirement as a condition for loan access in the 2020 manifesto of the NPP. In fulfilment of this promise, the Government has revised the policy; hence, tertiary students will not have to present a Guarantor in order to access student loans. Effective this school year, all eligible tertiary students will have to submit their Ghana Card to access the loans,” Dr Bawumia said.

Dr Bawumia also expressed delight that the No Guarantor Student Loan Policy has been made possible through the Ghanacard thanks to the investment the government has made in digital infrastructure, which has made the Ghanacard a reliable national identity card for Ghanaians.

“This is one of the benefits we derive as a country by prioritizing digitalization. It is at the core of every serious economic management.”

Appreciation

Various Speakers at the ceremony, including the Vice-Chancellor of KNUST Prof. Rita Akosua Dickson and the  President of NUGS, Dennis Appiah Larbi,  expressed gratitude to the government of President Akufo-Addo for the policy.

All the speakers agree the policy will open doors for more brilliant but needy students to access tertiary education, which they usually miss out on due to lack of funding.

Also present at the ceremony was the Minister of Education, Dr Yaw Osei Adutwum, who expressed his Ministry’s commitment to ensuring the success of the policy.

The No Guarantor Student Loan Policy is another milestone in education after expanding access to secondary education through the Free SHS policy.

Qualified students are required to apply online to the Ghana Students Loan Trust with their Ghanacard and successful students will have their fees paid directly to their tertiary institutions.

ADVERTISEMENT

SimilarNews

Lands Minister presents 95 signed mining licences to small-scale miners

Lands Minister presents 95 signed mining licences to small-scale miners

June 30, 2022
Government’s digitization drive is key to harnessing human resources-Veep

Government’s digitization drive is key to harnessing human resources – Vice President

June 29, 2022
Ghana welcomes World Bank's new education strategy for Western and Central Africa

Ghana welcomes World Bank’s new education strategy for Western and Central Africa

June 28, 2022
Dr. Mahamudu Bawumia

NPP structure won’t accept Bawumia as flagbearer – Nyako-Tamakloe

June 24, 2022
Trades and Industry Minister, Alan Kyerematen

Alan should’ve been courageous and resigned, I would’ve followed him anywhere – Nyaho-Tamakloe

June 24, 2022
President leaves for Brussels, Kigali

President leaves for Brussels, Kigali

June 21, 2022
Tags: Dr Mahamudu BawumiaFree Senior High School

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Similar Topic

John Awuah

Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

July 2, 2022
Tema Oil Refinery

TOR refutes allegations of shady sale of slop oil

July 2, 2022
Social Media Reaction

Twitter users react after Akufo-Addo directs Finance Minister to engage IMF

July 1, 2022
EOCO Fraud Alert: Fraudulent online business transactions on the increase

EOCO Fraud Alert: Fraudulent online business transactions on the increase

July 1, 2022
Bank of Ghana

Don’t link your Ghana Card to your bank account via social media link – BoG warns

July 1, 2022
We need to look inward to ensure food security

We need to look inward to ensure food security

July 1, 2022
“I can't quit music” - Opanka says as he drops new single

“I can’t quit music” – Opanka says as he drops new single

June 30, 2022
Family-Patient care is key in health delivery-Dr Amegbletor

Family-Patient care is key in health delivery – Dr Amegbletor

June 30, 2022
Investment in improved seeds crucial for small holder farmers.

Investment in improved seeds is crucial for smallholder farmers.

June 30, 2022
Mr Frederick Adjei-Rudolph

GTA to close down 25 hospitality facilities in ER for non-compliance

June 29, 2022
Please login to join discussion
ADVERTISEMENT

Latest News

Awudu Issaka urges old players to get involved in rejuvenation of national youth teams

Government must have an elevated outlook for the book industry – GIBF Chairman

GA East Municipal Assembly hands over medical items to Health Directorate

Tourism Ministry working towards the passage of Homeland Return Bill-Deputy Minister

POLL: Should Ghana go to IMF?

CAF postpones AFCON 2023 – CAF President Patrice Motsepe Confirms

Private Schools Association (GNAPS) calls for equal share of educational interventions

UER Chairman reiterates commitment to make GJA attractive

Set up provident fund schemes for employees, NPRA entreats employers 

Our basic and secondary educational system is in crisis – Prof Anamuah-Mensah

Prev Next
ADVERTISEMENT

Trending News

20 Most Profitable Business Ideas in Ghana 2022

Ghana Braids: 25 Lovely Ghana Weaving Hairstyles

Obuasi Floods: Scores displaced, properties destroyed

DStv Nigeria Packages, Channels, Prices

VGMA 2022 Winners: See full list of VGMA 23 Winners

Here are the reasons why Ghana is going for IMF support

CAF postpones AFCON 2023 – CAF President Patrice Motsepe Confirms

Set up provident fund schemes for employees, NPRA entreats employers 

LIVE: GPL Table 2022 – Ghana Premier League table 2022

Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

Prev Next
ADVERTISEMENT

Most Read

20 Most Profitable Business Ideas in Ghana 2022

New DStv Ghana Packages & Prices

Hisense Ghana: Showrooms, New Prices & Promotions

GOtv Ghana Packages, List of Channels & Prices

Ghana Braids: 25 Lovely Ghana Weaving Hairstyles

Best SHS in Ashanti Region – 2019 WASSCE Ranking

Best SHS in Ahafo Region – 2019 WASSCE Ranking

Best SHS in Ghana – 2019 WASSCE Ranking

Obuasi Floods: Scores displaced, properties destroyed

DStv Nigeria Packages, Channels, Prices

Prev Next
ADVERTISEMENT

Editor's Pick

Nursing Schools in Ghana 2022

Top 100 Best Hospitals in Ghana – 2021 (According to Survey)

Top 10 Business Opportunities in Ghana

Bank Charges in Ghana: Full Survey of Bank Charges – 2021

50 Profitable Online Business Ideas for Beginners [2022]

LIVE: GPL Table 2022 – Ghana Premier League table 2022

Best Universities in West Africa 2022

Best Banks in Ghana: Based on Financial Performance (2021)

Colleges of Education in Ghana

Accredited Universities in Nigeria

Ghana Cedi Exchange Rate

The Best Universities in Ghana – 2021 Ranking

10 Best Universities in Africa

Full List of Accredited Tertiary Institutions in Ghana

Prev Next
The Ghanaian Standard

The Ghanaian Standard brings you accurate Breaking News, Trends & Top Stories in Business, Politics, Lifestyle, Technology, and more from Ghana, Nigeria, Africa, and across the globe.

GhStandard.com - News made for discerning minds ...

Google News - The Ghanaian Standard, Ghana News
  • About
  • Contact
  • Advertise

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

No Result
View All Result
  • Home
    • General
    • Education
    • Health
    • Social
    • Religion
    • Tech
  • Breaking News
    • Latest
    • Trending
  • Politics
    • Opinions
    • Speech
  • Sports
  • Crime
    • Legal
  • Business
    • Economy
    • Finance
    • Finance & Investment
  • Sports
  • International
    • Cameroon
    • Cape Verde
    • DR Congo
    • Guyana
    • Kenya
    • Nigeria
    • South Africa
    • Qatar
  • Entertainment
    • Movies
    • Music
  • Lifestyle
    • Fashion
    • Food Related
    • Travel
  • Feature
    • Press Release
    • Profiles
    • Obituary
  • Editorial
    • Ethics and Guidelines
    • Trust and Transparency
HTML tutorial

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In