We’ll uncap GETFund to support ‘No Fees’ policy for Level 100 Students – Otokunor
The Director of Interparty and Civil Society Relations for the National Democratic Congress (NDC), Dr. Peter Boamah Otokunor, says a future NDC government plans to fund the ‘No Fees’ policy for Level 100 students by tapping into the Ghana Education Trust Fund (GETFund).
He says that if the government uncaps the GETFund, it could generate GH₵300 million annually for the initiative.
He said the Akufo-Addo administration has collateralized the GETFund thereby impacting university subventions.
Dr. Otokunor noted that with proper allocation to the Student Loans Trust Fund and GETFund uncapping, the NDC administration could fully finance the initiative.
“We will improve allocation to the student loans trust fund, if the government decaps GETFund, the GETFund alone will be able to release GH₵300 million per year for this initiative and to be able to take. Subventions are suffering because of the collateralization of GETFund, which they spend on frivolous projects and so the funding of this initiative will be the least of our problems.
“We rather have to look at moral hazards and corruption, where people will attempt to create ghost names, so efficiency mechanisms are required to track the numbers.”
Dr. Peter Boamah Otokunor explained that the ‘no academic fees for Level 100 students’ initiative aims to address the challenge of students being unable to afford university admission fees.
He highlighted the difficulties many students face in accessing higher education due to financial constraints.
“This policy was made advisedly to cure the major challenge of fees that over 45 students go through,” he explained on TV3 on August 17.
This comes after a section of Ghanaians questioned how the 2024 flagbearer of the National Democratic Congress (NDC), John Mahama, was going to fund the policy if he won the election.
The policy was announced at the launch of the NDC’s Youth Manifesto.
According to Mr Mahama, this is part of a government initiative to lessen the burden on parents financing the cost of their children’s education.
Many critics have since cited the economic situation of the country and alleged that the former President was making empty promises to garner votes
Mr. Mahama highlighted that the Office of the President’s budget, currently at GH₵2 billion annually, could also be reduced to fund the initiative.