Government to restructure Students' Loan Scheme

Accra, March 13, GNA - Government would restructure the Students' Loan Scheme with effect from the next academic year. Under the restructuring programme, the quantum of loans available to new applicants would be graduated to suit their diverse academic needs.

President John Agyekum Kufuor announced this when he addressed this year's congregation of the University of Ghana (UG), Legon in Accra.

A total of 329 out of the 2,764 students, who read for the Bachelor's Degree had first class, 605 students were given Certificate and Diploma, 569 had their Masters Degree and seven had the Doctor of Philosophy. President Kufuor said the Ministry of Education, Youth and Sports, had been directed to review the Scheme for the current users, who were enrolled with the SSNIT Scheme and make recommendations for the next academic year.

He said the existing scheme had been undermined by the non-payment by most of the past beneficiaries, therefore, for the new scheme to succeed it would be necessary for all beneficiaries to regularly pay back the loans they take.

"I therefore urge all stakeholders, especially the student body, to add the weight of their collective moral authority to the call on defaulters to pay up so that others can benefit", he said.

President Kufuor said the Government was not under any illusions about the enormity of the problems faced by the Universities but was on the path to restoring these public institutions to their proper status and infusing them with renewed hope and confidence.

He said the Government was also committed to providing funds for the development of faculty because impressive buildings and beautiful surroundings alone did not make a University.

President Kufuor said the heart and soul of a university were the teachers and students and until the universities were able to improve conditions for existing staff and attract and retain bright young lecturers, all their efforts would not guarantee a productive future. He said the recent agreement on salaries for lecturers should be seen as a demonstration of the Government's commitment to improving their working conditions, adding, "I know that your expectations may not have been fully met but there cannot be any doubt that a significant start has been made. Therefore, please keep faith with government to support the faculty".

President Kufuor gave the assurance that Government was committed to continued improvement of the conditions of service of lecturers side-by-side with the growth of the economy.

He said even though the Government had realised that shouldering the cost of tertiary education was an investment for the greater good of society, it had been constrained by the nation's poor economy. "The truth is that the State's resources are over-stretched and it had become necessary for students to make a contribution to enable the quality of service to be sustained", he said.

To the graduands, President Kufuor said; "as you venture into the world, the real world, a world of harsh realities and taxes, it is my hope and belief that the training you have received in this great institution will enable you to meet the challenges and opportunities of life".

Professor Kwadwo Asenso-Okyere, Vice Chancellor of the University, said it was turning out a large number of students with good degrees who could be appointed to replace the ageing academic staff.

He, therefore, appealed to the Government to continue to improve the conditions of service of the staff in order to attract these bright young men and women into University employment.

The Vice Chancellor said without the provision of high quality learning and research programmes, the University could not make any substantive and meaningful contribution to the production of graduates that could contribute to the economic and social development of the society and to the public good.

He said the provision of adequate supply of potable water to the University was a major problem with the development of East Legon Residential Area and the phenomenal increase in the population in communities surrounding the University and appealed to the Ghana Water Company to give the University special consideration.