Ghana’s Controller and Accountant-General, Kwesi Agyei, has disclosed that approximately 4,000 public sector workers currently on the government payroll have outstanding student loan obligations owed to the Student Loan Trust Fund (SLTF).
According to him, the Controller and Accountant-General’s Department is collaborating with the SLTF to recover the debts through salary deductions, in line with existing legal and regulatory provisions governing public-sector payroll administration.
Mr Agyei disclosed this on Thursday, June 18, at the launch of activities marking the 20th anniversary of the Student Loan Trust Fund.
He explained that the initiative forms part of efforts to strengthen loan recovery mechanisms and ensure the long-term sustainability of the student loan scheme, enabling more students to access financial support for tertiary education.
“We have already identified over 4,000 on the government payroll through the collaboration with the Trust Fund. In the coming days, we will engage with the Trust Fund on the modalities of implementing these deductions. We envisage that this deduction will become one of the important statutory sanctions on their salaries,” he said.
Mr Agyei noted that the planned deductions are expected to improve compliance among beneficiaries who have completed their studies and are now employed within the public sector.
He added that the measure would also enhance loan recoveries and strengthen the financial sustainability of the Fund, ensuring that future generations of students continue to benefit from the scheme.
The Student Loan Trust Fund has, in recent years, intensified efforts to improve repayment rates and expand access to tertiary education financing, with loan recoveries remaining a key pillar in sustaining its operations.
Meanwhile, the Chief Executive Officer of the Student Loan Trust Fund, Dr Saajida Shiraz, announced a 50 percent increase in access to the regular student loan package.
She attributed the improvement to the timely release of funds from the Ghana Education Trust Fund (GETFund), which has significantly boosted the fund’s capacity to support students.
According to Dr Shiraz, the fund has disbursed more than GH¢127 million to over 46,000 students and has successfully met all loan requests received during the period under review.
She said the achievement reflects ongoing efforts to expand educational opportunities and reduce financial barriers confronting students pursuing higher education.
Also speaking at the event, the Board Chairman of GETFund, Emmanuel Bedzrah, reaffirmed the Fund’s commitment to supporting student financing through the timely release of funds.
He assured stakeholders that GETFund would continue to work closely with the Student Loan Trust Fund to ensure students receive the financial assistance needed to pursue their academic ambitions.
The Student Loan Trust Fund was established to provide financial support to eligible tertiary students and has, over the past two decades, become a key source of educational financing for thousands of students nationwide.
Myjoyonline
