GETFund Allocation to Student Loan Trust Fund Increased from GH¢70m to GH¢150m – Haruna Iddrisu

Accra, July 5, 2025 – Education Minister Haruna Iddrisu has announced a significant increase in financial support for tertiary students, revealing that the Ghana Education Trust Fund (GETFund) will raise its allocation to the Students Loan Trust Fund (SLTF) from GH¢70 million to GH¢150 million starting next year.

The announcement was made on Friday, July 4, during the official launch of the ‘No Fees Stress’ policy, a government initiative aimed at easing the financial pressure on students pursuing higher education.

“Next year, the GETFund will double its allocation to the Students Loan Trust from GH¢70 million to GH¢150 million to support students who may want to access it further,” Mr. Iddrisu stated.

In addition to the funding boost, the Minister announced ongoing efforts to reform the national scholarship system, aiming to promote fairness, transparency, and merit-based selection. He revealed plans to introduce a new legislative framework to address issues of nepotism and favoritism that have long plagued the system.

“I will next week, on your behalf and in honor of one of your campaign policies, lay before Parliament the Scholarship Authority Bill to deal with the nepotism and cronyism that were associated with the scholarship award scheme,” he said.

Student groups and education stakeholders have widely welcomed the government’s move as a step toward improving equitable access to higher education and restoring public confidence in educational support schemes.