New Students Loan Scheme Next Year

A new scheme known as the Students Loan Trust, is to be established next year to replace the SSNIT Students Loan Scheme. According to a Radio Ghana news bulletin, this follows recommendations by a committee set up by the government two years ago to review the SSNIT scheme.

The Students Loan Trust is expected to address problems associated with the SSNIT programme such as pressure on resources to fund the scheme as a result of increasing number of students and the quantum of loans disbursed annually as well as low repayment rate.

The Director of Public Affairs of SSNIT, Mr. Kwaku Osei-Bimpong, said the new scheme would only absorb students who enter tertiary institutions in the academic year of its operation whilst the SSNIT scheme continues to take care of continuing students.