SSNIT denies abolition of students loan scheme

The Social Security and National Insurance Trust (SSNIT) on Friday denied media report that it is planning to stop the students loan scheme.

The Social Security and National Insurance Trust (SSNIT) on Friday denied media report that it is planning to stop the students loan scheme. A press statement said it is rather discussing with the Ministries of Finance and Education to align the scheme to make it self-sustaining. The statement, signed by Mr K. Osei Bimpong, head of public affairs, said SSNIT expects that the discussions with government and its consultants would be finalised before the next academic year. The "Ghanaian Times" reported on Friday that SSNIT would, as from next academic year, stop its students loan scheme because it has become the major drain on its resources, as most beneficiaries fail to pay back the loan.The SSNIT loan scheme was established to assist students in tertiary institutions.