The Ghana Students Loans Trust Fund (SLTF) has recorded 55,637 applications for financial aid in the 2024/2025 academic year, signaling a growing demand for tertiary education support.
The figure, announced by SLTF CEO Hajia Saajida Shiraz on Joy FM’s Super Morning Show on Monday, May 26, already surpasses the total number of applicants for the 2023/2024 cycle—despite the application window still being open.
Last academic year, the SLTF supported 54,658 students with a total disbursement of GHS58 million. This included GHS27 million in allowances for 68,000 teacher trainees.
Hajia Shiraz noted that the SLTF expects to support up to 150,000 students from 168 public tertiary institutions this cycle, backed by a budget of nearly GHS499 million.
The Fund covers tuition and stipends for eligible students enrolled in accredited institutions, with each applicant projected to receive over GHS2,000 in financial support.
SLTF funding is sourced primarily from government allocations (60%), SSNIT contributions (30%), and loan recoveries (10%). Currently, the Fund maintains a 72% repayment rate from employed past beneficiaries.
Established under the Trustee Incorporation Act, 1962 (Act 106), the Students Loan Trust Fund was created to replace the SSNIT Students’ Loan Scheme. It aims to provide financial resources to students and promote national development ideals in line with Articles 25 and 38 of the 1992 Constitution. The Fund now operates under the Students Loan Trust Fund Act, 2011 (Act 820), passed by Parliament.
