Managers of the Student Loan Trust Fund (SLTF) have refuted reports that the teacher trainee allowance has been converted into a loan facility.
In a statement signed by the Senior Communication Manager for SLTF, George Ferguson Laing, he explained in line with Government policy to restore the allowance effective 2017/2018 academic year, the Ministry of Education has mandated the Students Loan Trust Fund to disburse the allowances.
He stressed it is not a loan for the trainees and they are not expected to pay it back to the state. The trust has only been mandated by the Government to facilitate the payment of the allowance to trainees because it has the required systems and structures to do so.
In a recent meeting with the Principals of the Colleges of Education (PRINCOF), the Trust Fund emphasized the need for the Principals to furnish it with lists of eligible students and other essential information in order for the allowances to be speedily distributed.
The disbursement of the allowances is an added service the Trust Fund in providing for the education sector in Ghana and does not in any way detract from its core mandate which is to provide subsidized loans for Ghanaian tertiary students studying in accredited institutions nationwide.
Mr Laing added that the Student Loan Trust Fund will approach this new task with the same diligence it has applied in providing equal access to tertiary financing since 2006/07 academic year.
SLTF was established in December 2005 under the Trustee Incorporation Act 1962, Act 106. As part of reforms to make accredited tertiary education more accessible to the majority of qualified Ghanaian students, the Government of Ghana passed the Student Loan Trust Fund Act, Act 820 (2011) for the efficient and effective disbursement of loans to tertiary students.
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