{"id":21486,"date":"2022-06-09T17:59:24","date_gmt":"2022-06-09T17:59:24","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/bawumia-unveils-no-guarantor-student-loan-policy"},"modified":"2022-06-09T18:13:25","modified_gmt":"2022-06-09T18:13:25","slug":"bawumia-unveils-no-guarantor-student-loan-policy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy","title":{"rendered":"Bawumia unveils \u201cNo Guarantor Student Loan Policy\u201d"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Vice President Mahamudu Bawumia has outdoored the \u201cNo Guarantor Student Loan Policy\u201d for tertiary education at the Kwame Nkrumah University of Science and Technolgy (KNUST) in Kumasi.<\/p>\n

The Policy is a promise the Akufo-Addo-led Government made during the 2020 Elections, intended to make tertiary education accessible to the Ghanaian youth, especially beneficiaries of the Free Senior High School Policy.<\/p>\n

This means that the restrictive policy of students having to provide three SSNIT contributors as guarantors before they could access loans for tertiary education has been abolished.<\/p>\n

Speaking at the launch of the Policy on Wednesday, Vice President Bawumia explained that for qualified young Ghanaians to access their students\u2019 loan, they only had to provide their Ghana-Card.<\/p>\n

The roll-out of the pro-poor policy, he said, would henceforth remove barriers and significantly increase inclusive access to tertiary education. \u201cThe removal of the guarantor requirement is a critical first step to ensuring cost is not a barrier to access and participate in tertiary education,\u201d the Vice President said.<\/p>\n

\u201cIndeed, these are exciting times to be a youth in Ghana. One can go through education from basic to tertiary with guaranteed support from Government.\u201d<\/p>\n

Globally loans had enabled financially-challenged individuals to go through universities and pay after graduation, therefore, he said the Akufo-Addo-led Government had introduced the policy to ease the burden on students, parents and guardians.<\/p>\n

Dr Bawumia provided statistics of many students who could not access the guarantor-required students loans and so denied access to tertiary education.<\/p>\n

Out of 325,000 eligible students who submitted applications to access the Student Loans portfolio, only 9.6 per cent obtained the loans during the 2019\/2020 academic year.<\/p>\n

Similarly, only 8.4 per cent of eligible students could access loans during the 2016\/2017 academic year, while 9.8 per cent accessed in 2017\/2018, and 8.6 per cent in 2015\/2016.<\/p>\n

The Vice President said during the 2019\/2020 academic year, 42 per cent of the 7,552 loan applicants could not submit their completed forms because of the difficulty in finding eligible guarantors.<\/p>\n

\u201cWe promised to remove the guarantor requirement as a condition for loan access in the 2020 Manifesto of the New Patriotic Party (NPP).\u201d<\/p>\n

In fulfilment of the promise, the Government has revised the policy, hence tertiary students will no longer present a guarantor to access students loan.\u201d Therefore, effective this academic year, all eligible tertiary students would have to submit only their Ghana-Cards to access the loans.<\/p>\n

Dr Bawumia expressed delight over the investment the Government had made in digital infrastructure, thus making it possible to use the Ghana-Card as a reliable national identity.<\/p>\n

\u201cThis is one of the benefits we derive as country by prioritising digitalisation. It is at the core of every serious economic management.\u201d<\/p>\n

\u201cAll qualified students are required to apply online to the Ghana Students Loan Trust with their Ghana-Card.\u201d<\/p>\n

\u201cSuccessful applicants will have their fees paid directly to their tertiary institutions.\u201d<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Vice President Mahamudu Bawumia has outdoored the \u201cNo Guarantor Student Loan Policy\u201d for tertiary education at the Kwame Nkrumah University of Science and Technolgy (KNUST) in Kumasi. The Policy is a promise the Akufo-Addo-led Government made during the 2020 Elections, intended to make tertiary education accessible to the Ghanaian youth, especially beneficiaries […]<\/p>\n","protected":false},"author":84,"featured_media":21485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[5092,5096,46,429,9118],"class_list":["post-21486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-ghana","tag-bawumia","tag-ghana","tag-policy-2"],"yoast_head":"\nBawumia unveils \u201cNo Guarantor Student Loan Policy\u201d - Ghana<\/title>\n<meta name=\"description\" content=\"Vice President Mahamudu Bawumia has outdoored the \u201cNo Guarantor Student Loan Policy\u201d for tertiary education at the Kwame ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bawumia unveils \u201cNo Guarantor Student Loan Policy\u201d\" \/>\n<meta property=\"og:description\" content=\"Vice President Mahamudu Bawumia has outdoored the \u201cNo Guarantor Student Loan Policy\u201d for tertiary education at the Kwame ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-09T17:59:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-09T18:13:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/06\/img-62a238265f95d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"464\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Bawumia unveils \u201cNo Guarantor Student Loan Policy\u201d\",\"datePublished\":\"2022-06-09T17:59:24+00:00\",\"dateModified\":\"2022-06-09T18:13:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy\"},\"wordCount\":482,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/06\/img-62a238265f95d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"Bawumia\",\"ghana\",\"Policy\u201d\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bawumia-unveils-no-guarantor-student-loan-policy\",\"name\":\"Bawumia unveils \u201cNo Guarantor Student Loan Policy\u201d - 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