The National Union of Ghana Students (NUGS) has called on the government to increase the amount offered to beneficiaries of the Student Loan from GH¢3,000.00 to GH¢5,000.00.
As part of his message delivered during the inauguration of the no guarantor policy of the Student Loan Trust Fund (SLTF), Dennis Appiah Larbi-Ampofo (NUGS President) indicated that, there is the need to increase the amount currently being offered to the beneficiaries.
He indicated that, financing education in Africa, especially tertiary education, is a big issue, a clear indication in the fact that, the Sub-Saharan African average for tertiary enrollment stands at 9.3% against a global average of 38%.
Dennis Appiah believes tertiary education must not be financed wholly by the students and that, steps must be taken to support needy but brilliant students through the expansion of the student loan policy.
The no guarantor policy was launched on Wednesday, June 8, 2022 at the Kwame Nkrumah University of Science and Technology (KNUST) to aid students secure student loans without going through the challenge of getting a guarantor before accessing the loan.
Dennis Appiah again drew the attention of the gathering to the fact that, the interest rate calculation on the loans secured by the students should be looked at, since it starts accumulating right from level 100.
The National Union of Ghana Students (NUGS) through its President indicated that, the Union is currently working on an app, which would have a space for the Student Loan Trust Fund and plead with the Vice President, Dr Mahamudu Bawumia to help make it a reality.