The Students Loan Trust Fund (SLTF) has successfully distributed the overdue allowances for teacher trainees for the 2023/2024 academic year.
This financial support has reached a total of 65,685 students enrolled in 46 colleges of education across the country.
According to a statement issued by Dr. Saajida Shiraz, the acting Chief Executive Officer of the SLTF, “The arrears, which encompass three months, have now been completely resolved. This payment aligns with the fund’s mission to enhance access to financial assistance for tertiary education students in Ghana.”
The statement further noted that this payment is in line with the government’s reset agenda, which aims to strengthen support systems within the education sector and ensure that academic progress for future leaders remains uninterrupted.
The SLTF reiterated its dedication to providing timely, transparent, and efficient financial support services for students.
“Comprehensive measures are being put in place to ensure the consistency, reliability, and smooth execution of all future disbursements in accordance with established policy guidelines,” it added.
Dr. Shiraz, who took office earlier this year, has committed to prioritizing timely financial assistance for students as part of the President’s reset agenda.
Under her leadership, the SLTF has reaffirmed its dedication to delivering prompt financial support services for eligible tertiary students in Ghana.
During the presentation of the 2025 Budget Statement and Economic Policy on March 11, 2025, Finance Minister Dr. Ato Forson announced that the allowances will continue into the 2025 fiscal year, with a budget allocation to ensure timely payments.
“The government is committed to maintaining the teacher and nursing trainee allowances to support students in their professional training,” Dr. Forson stated to Parliament.
He assured lawmakers that efforts are underway to prevent payment delays in the upcoming fiscal year.
The budget allocates funds for the ongoing disbursement of allowances, and the government is committed to ensuring that trainees receive their benefits punctually, he stated.
The Students Loan Trust Fund is a public entity created under the Trustee Incorporation Act of 1962, Act 106, aimed at offering financial support to students and advancing the national principles outlined in Articles 25 and 38 of the 1992 Constitution.
This institution succeeded the SSNIT Students Loan Scheme.
