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Bawumia Launches ‘No Guarantor’ Students Loan Scheme

09th, June 2022 / Local News / Kofi Owusu Opabene
Darling FM - Bawumia Launches ‘No Guarantor’ Students Loan Scheme

Vice President Dr Mahamudu Bawumia has launched ‘No Guarantor’ policy for the Students Loan scheme.

The launchimg was held at the Kwame Nkrumah University of Science and Technology (KNUST).

 

This forms part of the manifesto promise by the NPP ahead of the 2020 polls about the Students Loan Trust Fund (SLTF).

 

The no guarantor policy removes the requirement for student loan applicants to produce a guarantor before accessing the loan.

 

Previously, one of the major obstacles for students who needed to access loans was the need for them to produce a guarantor.

 

But after this launch as pledged in the 2020 NPP manifesto, students only need a Ghana Card to access the loan.
Studies indicate that the implementation of this policy would lead to a 60% increase in demand for student loans.

 

 

Source: dailyguidenetwork.com