The New Patriotic Party (NPP) have promised that tertiary students will be able to obtain loans without a guarantor if their mandate is extended in the December 2020 elections.
This promise was revealed by Vice-President, Dr Mahamudu Bawumia at the manifesto launch of the NPP at the University of Cape Coast on August 22, 2020.
“So we have a major promise; a policy initiative which we say all tertiary students except teacher and trainees who will be on the allowance will be able to get the option to obtain a student loan without the requirement of the guarantor.”
Dr Bawumia indicated that the guarantor system is a problem for many tertiary students as that hinders them from accessing student loans.
“The problem for many tertiary students is the current scheme asks for guarantors and a lot of people are not willing to put their pensions on the line so many are not able to access the student loan.”
He, however, added that all tertiary students will need now to access the student loans are their national ID card.
“So you don’t need a guarantor and all you need is your national ID card. That’s all and you will be accessing your loan and once you complete your education.”
“Repayment will be deferred after your tertiary education. You will get one year grace period after your national service, then you start paying,” he added.
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