Some 1,492 students will receive loans from the Students Loan Trust Fund (SLTF) this week.

The SLTF is hereby announcing to its beneficiaries and the general public that an amount of ¢1.7 million has been released to the 1,492 students.

According to a statement from the Head of Public Relations Students, George Ferguson Laing, this brings the total amount released for the 2019/20 academic year to ¢48.6 million.

The schedule for future payments will be announced in due course.

The students Loan Trust Fund (SLTF) was established in December 2005 under the Trustee Incorporation Act 1962, Act 106.

As part of reforms to make accredited tertiary education more accessible to the majority of qualified Ghanaian students, the Government of Ghana passed the Student Loan Trust Fund Act, Act 820 (2011) for the efficient and effective disbursement of financial resources to tertiary students.

The Trust Fund has the responsibility to recover loans from students after the completion of their tertiary education.

The principal objectives of the Trust Fund are to provide financial resources for the sound management of the Trust for the benefit of students and to help promote and facilitate the national ideals enshrined in Article 25 and 38 of the 1992 Constitution.