Excerpt
The Students Loan Trust Fund (SLTF) of Ghana, established in December 2005 under the Trustee Incorporation Act 1962, Act 106, plays a pivotal role in providing financial assistance to tertiary students across the nation. Its primary objective is to offer financial resources for the sound management of the Trust, benefiting students and promoting the national ideals enshrined in Articles 25 and 38 of the 1992 Constitution.
Mandate and Constitutional Role
The SLTF is mandated to:
- Provide facilities to enhance tertiary education in support of students.
- Allocate funds to support activities and programs that promote relevant courses, as determined by the Trustees in consultation with the Minister.
These efforts align with the national ideals outlined in Articles 25 and 38 of the 1992 Constitution, emphasizing the right to education and the state’s responsibility to make higher education accessible to all.
Organizational Structure and Leadership
The SLTF operates under a Board of Trustees comprising distinguished individuals from various relevant fields. Board members are appointed by the President of the Republic. The day-to-day administration is led by a Chief Executive Officer (CEO), supported by a team of dedicated professionals. Additionally, the SLTF maintains campus offices in major institutions to facilitate student inquiries, application processes, and information dissemination.
Mode of Appointment and Recruitment
Board members are appointed by the President, ensuring that individuals with diverse and relevant expertise guide the Trust’s operations. The recruitment of staff is conducted through a transparent process, aiming to attract qualified professionals committed to the SLTF’s mission.
Collaborations and Partnerships
The SLTF collaborates with various governmental and educational institutions to fulfill its mandate. These partnerships ensure the effective distribution of loans and the promotion of educational programs that align with national development goals.
Constitutional Reforms
n 2011, the Students Loan Trust Fund Act, Act 820, was enacted by Parliament to strengthen the legal framework governing the SLTF. This Act replaced the previous SSNIT Students Loan Scheme, providing a more robust structure for the administration of student loans in Ghana.
Achievements
Since its inception, the SLTF has made significant strides in enhancing access to tertiary education in Ghana. By providing timely financial assistance, it has enabled countless students to pursue higher education without the burden of financial constraints. The establishment of campus offices has improved accessibility and streamlined the loan application process, ensuring that students receive the support they need promptly.
References
- https://www.sltf.gov.gh/about/
- https://www.ghanaweb.com/GhanaHomePage/features/Nuhu-Bayorbo-Mahama-s-appointment-signals-growth-for-Student-Loan-Trust-Fund-1908428
- https://www.graphic.com.gh/features/opinion/a-leader-in-finance-and-politics-nuhu-bayorbo-mahamas-appointment-signals-growth-for-student-loan-trust-fund.html
- https://www.slideshare.net/slideshow/sltf-final-consolidated-strategy-20160303/59368748
- https://www.sltf.gov.gh/about-us/history/
- https://www.sltf.gov.gh/wp-content/uploads/2023/02/ANNUAL-REPORT-2021-STUDENTS-LOAN-TRUST-FUND-FINAL.pdf
- https://www.sltf.gov.gh/wp-content/uploads/2022/05/Annual_report-2020.pdf
- https://www.sltf.gov.gh/about-us/board-of-trustees/
- https://kstu.edu.gh/student-loan-trust-fund-ghana
- https://gamma.kstu.edu.gh/students-loan-trust-fund-ghana
- https://en.wikipedia.org/wiki/Student_Loan_Trust