Kwesi Agyei, the Controller and Accountant-General, has disclosed that around 4,000 public sector employees currently receiving government salaries have outstanding student loan debts owed to the Student Loan Trust Fund (SLTF).
He stated that the Controller and Accountant-General’s Department is working in conjunction with the SLTF to recover these debts through salary deductions, adhering to the existing legal and regulatory frameworks that govern public-sector payroll management.
Mr. Agyei made this announcement on Thursday, June 18, during the launch of activities commemorating the 20th anniversary of the Student Loan Trust Fund.
He clarified that this initiative is part of broader efforts to enhance loan recovery mechanisms and ensure the long-term viability of the student loan program, thereby allowing more students to obtain financial assistance for higher education.
“We have already identified over 4,000 on the government payroll through the collaboration with the Trust Fund. In the coming days, we will engage with the Trust Fund on the modalities of implementing these deductions. We envisage that this deduction will become one of the important statutory sanctions on their salaries,” he stated.
Mr. Agyei emphasised that the anticipated deductions are likely to improve compliance among beneficiaries who have completed their education and are now working in the public sector.
He further noted that this initiative would also bolster loan recoveries and enhance the financial sustainability of the Fund, ensuring that future generations of students can continue to benefit from the program.
In recent years, the Student Loan Trust Fund has ramped up efforts to boost repayment rates and broaden access to financing for tertiary education, with loan recoveries being a crucial element in maintaining its operations.
Meanwhile, Dr. Saajida Shiraz, the Chief Executive Officer of the Student Loan Trust Fund, announced a 50 percent increase in access to the regular student loan package.
She attributed this enhancement to the prompt release of funds from the Ghana Education Trust Fund (GETFund), which has greatly improved the fund’s ability to assist students.
Dr. Shiraz stated that the fund has disbursed over GH¢127 million to more than 46,000 students and has successfully fulfilled all loan requests received during the review period.
She noted that this accomplishment reflects ongoing efforts to broaden educational opportunities and alleviate financial obstacles faced by students pursuing higher education.
Additionally, at the event, Emmanuel Bedzrah, the Board Chairman of GETFund, reiterated the Fund’s dedication to supporting student financing through the timely release of funds.
He assured stakeholders that GETFund would persist in collaborating closely with the Student Loan Trust Fund to guarantee that students receive the necessary financial assistance to achieve their academic goals.
The Student Loan Trust Fund was established to offer financial support to eligible tertiary students and has, over the last two decades, emerged as a vital source of educational financing for thousands of students nationwide.
