In what could be a major shift in Ghana’s educational financing landscape, the government has revealed intentions to expand the Student Loan Scheme to include students enrolled in private tertiary institutions. This announcement was made by the Minister of Education, Haruna Iddrisu, during the swearing-in ceremony for newly appointed board members of the Student Loan Trust Fund on Tuesday, April 29, 2025.
The event also marked the official unveiling of a digital loan application platform, a strategic move designed to ease access and streamline the borrowing process for students across the country. The new digital platform is expected to simplify the application procedure, reduce delays, and make loan processing more transparent and efficient.
The Education Minister stressed that the government recognises the growing number of Ghanaian students who, due to space limitations in public universities, are compelled to pursue higher education in private institutions. These students often face the same financial hardships as their counterparts in public universities but currently do not benefit from the national student loan programme. Haruna Iddrisu made it clear that it is the wish of President John Dramani Mahama to correct this disparity and ensure equal opportunity for all.
He stated that the expansion of the scheme is not a mere promise but a policy being actively considered for implementation within the current academic year. According to him, the government’s aim is to create an inclusive system that recognises all Ghanaian students, regardless of whether they attend a public or private institution. The loans, he reiterated, would be repayable by the students after graduation, in line with the existing structure.
The proposed inclusion of private tertiary students in the Student Loan Scheme has been warmly received by educational stakeholders, who see it as a step towards bridging the inequality in access to educational funding. For years, students in private universities have had to depend heavily on family support, personal savings, or external scholarships, many of which are not guaranteed. The possibility of accessing government-backed loans offers a lifeline to many struggling to pay their tuition and complete their education.
The timing of the announcement is also seen as strategic. As the country continues to recover from the economic challenges that have affected both public and private sectors, extending such financial relief to students can significantly ease the burden on households. Moreover, the move reflects a broader vision to promote human capital development by ensuring that no capable student is denied the chance to acquire tertiary education due to financial constraints.
At the swearing-in event, Haruna Iddrisu encouraged the new board members of the Student Loan Trust Fund to embrace their responsibilities with diligence and innovation. He noted that the success of this proposed expansion will depend largely on their commitment to designing efficient strategies that address the realities of both public and private institutions. The Minister urged them to view the inclusion of private tertiary institutions not as an obligation, but as an opportunity to serve the broader educational needs of the country.
For many observers, this development signals a maturing of Ghana’s education financing system. By acknowledging that all students, regardless of the institution they attend, deserve access to financial support, the government is showing a commitment to fairness and national development. It also highlights a shift in mindset—recognising that private education is not a luxury for the wealthy, but a necessity for many who simply cannot find space in the public system.
As attention now turns to how quickly the proposal can be rolled out, students and their families are hopeful that the government will back its words with action. The successful implementation of this initiative could transform the educational prospects of thousands, fostering a more inclusive and balanced system that supports the aspirations of every Ghanaian student.
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