Students Loan clears outstanding teacher trainee allowance

The Students Loan Trust Fund (SLTF) has expend the outstanding teacher trainee allowances for the 2023/2024 academic year.
The money was expend to a sum of 65,685 students across 46 colleges of education in Ghana.

“The three months arrears, have now been completely settled. The payment is in accordance with the fund’s meant to facilitate access to financing support or help for tertiary students in the country” a release signed by the acting Chief Executive Officer of the SLTF, Dr Saajida Shiraz, made it clear.

The payment also line up with the government’s new agenda, which included intentional efforts to firm support systems within the education sector and warrant uninterrupted academic progression for our future leaders.

The SLTF, it said, is still devoted in its dedication to warrant transparent, timely and well functioning financial support services delivery for the betterment of students.
Under her care, the SLTF has reaffirmed its dedication to providing timely financial support services for the interest of legitimate tertiary students in the country.

The SLTF said, sturdy measures have come to stay to ensure consistency, reliability and seamless execution of all future expending in full alignment with established policy directives. Dr Shiraz, who took up office earlier this year, had promised to firstly decided timely financial support for students in advancement of John Dramani Mahama’s new agenda.

On 11 March 2025 when Finance Minister Dr. Ato Forson was presenting the 2025 Budget Statement and Economic Policy, he said the allowances will continue under the 2025 revenue year, with a budgetary allocation to warrant timely payments.

Dr. Forson told Parliament, the government is still committed to maintaining the teachers and nursing trainee allowances to help students in their professional training.

Dr Forson guaranteed lawmakers that the government was working to prevent payment delays in the coming revenue year. He said the budget provides for the continued payment of allowances and the government will warrant that, trainees receive their entitlements on time.

The Students Loan Trust Fund is a public institution established under the Trustee Incorporation Act 1962, Act 106, to provide financial resources for the interest of students and to promote and facilitates the national integrity as venerated in Articles 25 and 38 of the 1992 Constitution. It replaced the SSNIT Students Loan Scheme.