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The Students Loan Trust Fund (SLTF) says its expenditure on student financing and related educational support programmes could rise from about GH¢600 million this year to nearly GH¢800 million in the next academic year.
The Students Loan Trust Fund (SLTF) is projecting a significant increase in funding for tertiary education support as it prepares to expand its loan and student assistance programmes for the 2026/2027 academic year.
Chief Executive Officer of the SLTF, Dr Saadija Shiraz, disclosed that the Fund spent approximately GH¢600 million this year across its various programmes, with expenditure expected to approach GH¢800 million in the next academic year.
The programmes include the Students’ Loan, Students Loan Plus, teacher trainee allowances, the No Academic Fee policy, and free tertiary education support for persons with disabilities.
Speaking at a press conference during the Sixth Association of African Higher Education Financing Agencies (AAHEFA) International Conference in Accra, Dr Shiraz said the projected increase reflects growing demand for tertiary education financing.
Nearly GH¢800m projected for next academic year
According to Dr Shiraz, the SLTF expects expenditure to increase substantially as more students become eligible for its various support programmes.
“This year, we have spent quite some money. In the next academic year, it is going to be a little significantly higher than that; we are looking at close to GH¢800 million,” she said.
She attributed the expansion of the programmes partly to government support for tertiary education financing.
Dr Shiraz disclosed that the Fund received more than GH¢1 billion in funding last year, which she said enabled it to expand its interventions.
She linked the funding to President John Dramani Mahama’s stated priority on education and tertiary education financing under his administration’s Reset Agenda.
No Academic Fee policy reaches 169,000 students
The SLTF CEO also provided an update on the government’s No Academic Fee policy.
She said the Fund had so far disbursed support to approximately 169,000 students, with the number expected to reach 175,000.
For the 2026/2027 academic year, the SLTF is projecting a further increase in beneficiaries.
Based on a projected 25 per cent increase, Dr Shiraz said the Fund expects close to 200,000 beneficiaries under its programmes.
The Fund is also anticipating approximately 80,000 student loan applications.
Combined, these programmes could bring the number of beneficiaries under the Fund’s loan-related interventions to around 300,000 students during the next academic year.
Digital product loans set for reintroduction
A major component of the SLTF’s expansion plans is the restructuring and reintroduction of its digital product loan scheme.
The initiative is expected to enable students to access financing to purchase digital devices and other products needed for their education.
The move comes as digital tools become increasingly important in tertiary education, particularly for online learning, research, communication and access to academic resources.
Dr Shiraz said the Fund is also using technology to improve the administration of its programmes.
Student loan system to become fully digital
The SLTF plans to fully digitalise its loan application and agreement processes beginning in the current academic year.
Under the planned system, students will be able to complete and sign loan agreements online, reducing the need for physical documentation and potentially making access to financing faster.
The Fund is also using technology to address problems involving mismatched names and student records.
Dr Shiraz advised applicants whose names or data do not correspond with their academic records to upload relevant affidavits through the SLTF portal.
The documents will be verified alongside their student status before applications are processed for disbursement.
African higher education financing shifts towards technology
Dr Shiraz made the disclosures during the two-day AAHEFA conference in Accra, which brought together academics, researchers, policymakers and leaders of higher education institutions from across Africa.
The conference was held under the theme:
“Digital transformation in higher education financing: The role of technological advancements in ensuring sustainable, inclusive and resilient higher education financing system in Africa.”
The discussions focused on how African countries can use technology and better data systems to improve access to higher education financing while making funding systems more sustainable.
President of AAHEFA, Dr John Machayi, urged African governments to view expenditure on higher education not simply as a cost but as an investment in human capital.
He said student financing agencies have an important responsibility to ensure that graduates acquire the skills needed by their respective economies.
“We need to churn out graduates who are assets to our respective governments,” he said.
Dr Machayi also emphasised the importance of reliable data in designing sustainable higher education financing policies.
African360 Analysis
The projected increase from GH¢600 million to nearly GH¢800 million highlights the growing financial commitment required to widen access to tertiary education.
For students and families, increased financing could reduce some of the financial barriers associated with university and other tertiary education. However, the expansion also makes financial sustainability, accurate targeting and transparent disbursement increasingly important.
The SLTF’s planned digitalisation could help address some of these challenges by reducing paperwork, improving verification and creating better records of applications and payments.
The proposed digital product loan programme is also significant because access to devices can increasingly affect a student’s ability to participate effectively in modern tertiary education.
At the same time, the Fund’s projected growth to hundreds of thousands of beneficiaries will require strong data systems and efficient monitoring to minimise errors and ensure that resources reach eligible students.
The broader question for Ghana—and other African countries—is how to expand access to higher education while building financing systems that remain inclusive, accountable and financially sustainable over the long term.
