The Students Loan Trust Fund (SLTF) has disbursed the outstanding teacher trainee allowances for the 2023/2024 academic year.

The money was disbursed to a total of 65,685 students across 46 colleges of education in the country.

“The arrears, which cover three months, have now been fully settled. The payment is in consonance with the fund's mandate to facilitate access to financing support for tertiary education students in Ghana,” a release signed by the acting Chief Executive Officer of the SLTF, Dr Saajida Shiraz, said.

Agenda

It said the payment also aligned with the government's reset agenda, which included deliberate efforts to strengthen support systems within the education sector and ensure uninterrupted academic progression for our future leaders.

The SLTF, it said, remained steadfast in its commitment to ensuring timely, transparent and efficient financial support services delivery for the benefit of students. 

Robust

“Robust measures are being implemented to guarantee the consistency, reliability and seamless execution of all future disbursements in full alignment with established policy directives,” it said.

Dr Shiraz, who assumed office earlier this year, had pledged to prioritise timely financial support for students in furtherance of the President’s reset agenda.

Under her stewardship, the SLTF has renewed its commitment to providing timely financial support services for the benefit of eligible tertiary students in Ghana.

Presenting the 2025 Budget Statement and Economic Policy on March 11 2025, Finance Minister Dr Ato Forson said the allowances will continue under the 2025 fiscal year, with a budgetary allocation to ensure timely payments.

“The government remains committed to sustaining the teacher and nursing trainee allowances to support students in their professional training,” Dr Forson told Parliament.

Dr Forson assured lawmakers that the government was working to avoid payment delays in the coming fiscal year.

“The budget provides for the continued payment of allowances and the government will ensure that trainees receive their entitlements on time,” he said.

The Students Loan Trust Fund is a public institution established under the Trustee Incorporation Act 1962, Act 106, to provide financial resources for the benefit of students and to promote and facilitate the national ideals as enshrined in Articles 25 and 38 of the 1992 Constitution.

It replaced the SSNIT Students Loan Scheme.