Vice President Dr Mahamudu Bawumia says the New Patriotic Party (NPP) will initiate a policy that will see tertiary students access student-loans with guarantors.
Over the years many have failed to access the loans because of the lack of guarantors and that has led to many dropping out or not being able to enter tertiary institutions.
Dr Bawumia speaking at the NPP manifesto launch says if they are giving power for another 4 years, they will role out this policy that will go a long way to build Ghana’s human capital.
“In South Korea, their gross tertiary enrollment is 90%. In Ghana, our gross tertiary enrollment ratio is less than 17%. So if we want to catch up we need to build our human capital and to do that we need to get more enrollment into tertiary institutions. One of the problems for students in getting access to tertiary education is affordability. We have to facilitate the ability of people to get tertiary education so we have a major policy promise which says all tertiary students except teacher and nursing trainees on allowances will now be able to obtain student loans without guarantors, all you need is a national ID card”
Dr Bawumia further said the current problem with the student loans scheme is the issue with guarantors because lots of people do not want to put their pension schemes on the line and that has seen many students not being able to access the loans.
He added that when a student accesses the loan and completes school, repayment will be deferred, students will get one year grace period before they start paying.
Dr Bawumia said Ghanaians should go to the polls and vote for the NPP for another four years because they have a better future for Ghanaians.
“You should vote for President Akufo-Addo and NPP so we provide leadership of service to deliver on our promises, protect our progress and to transform Ghana for all”