Quick answer: For most Ghanaian tertiary students, a "student loan" means the Students Loan Trust Fund (SLTF). Since 7 November 2025 it lends GH¢2,250 to GH¢4,500 a year, 50% more than before. Interest during study and the grace period is 6% simple instead of 12% compound. In repayment the rate is the 182-day Treasury bill rate plus 2 points, about 7.3% in August 2026. No guarantor is needed, only a Ghana Card. First-year students at public institutions also pay no academic fees under the No Academic Fees policy, and the portal for 2026/2027, including bridge financing for admission deposits, opened on 5 October 2026. Scholarships, district bursaries and bank education loans fill the gaps.
GHSL1024Your options at a glance
| Option | Who it is for | What it gives |
|---|---|---|
| SLTF regular student loan | Ghanaians under 45 in accredited diploma, HND or degree programmes (not sandwich) | GH¢2,250–4,500 a year paid to your GCB Bank account |
| Students Loan Plus | Professional and continuing students, for example the Ghana School of Law | Full fees paid to the institution |
| No Academic Fees and bridge financing | Level 100 students at public universities, technical universities and colleges | 100% of academic user fees; bridge financing pays the admission deposit |
| Free tertiary education for persons with disabilities | Students with disabilities, all levels | Fees, accommodation, stipend and assistive devices |
| GETFund and Scholarships Secretariat | Ghanaians admitted to accredited institutions, based on need and merit | Tuition grants; foreign scholarships may add living costs |
| District Assembly bursaries | Needy students resident in the district | Fee support from the Common Fund |
The SLTF also runs the Students Loan Protection Scheme: 0.5% of each disbursement is deducted to cover the debt if the borrower dies or becomes permanently disabled. Applications go through the SLTF portal and the No-Fees-Stress portal; the mandatory e-zwich card was dropped and a GCB Bank account is created for you when you register. For the full rules, deadlines and repayment schedule, see our detailed Students Loan Trust Fund guide.
What an SLTF loan costs now
Repayment starts after one year of national service and one year of grace, and lasts two to ten years depending on how many yearly loans you took: one loan means two years, four loans eight years and five or more ten years. Our calculation: a student who borrows the maximum GH¢4,500 in each of four years owes about GH¢22,860 when repayment starts at 6% simple interest, against roughly GH¢30,200 under the old 12% compound rate. Repaid over eight years at about 7.3%, that is around GH¢315 a month. You can pay by mobile money, through the Ghana.Gov platform, at partner banks or by salary deduction, which employers must make by law.
Two private lenders state terms that differ sharply. Republic Bank's Back to School Loan is priced at 20.00% to 21.00% a year on a reducing balance, with repayment up to 64 months. It needs one guarantor earning at least 20% more than you, or two if incomes are equal; government employees paid through the Controller and Accountant General with over five years' service need none. Stanbic Bank Ghana offers education loans up to GHS 250,000 over as long as 15 years, structured around 7% a year, but requires a guarantor who holds a Stanbic account. Neither rate is dated in the sources available to us, so treat both as indicative and ask each bank for its current written schedule before you sign anything.
On the public side, the detail the portal opened on 6 October 2026 is that Level 100 No Academic Fees, Bridge Financing, Students Loan Plus and the regular loan are all applied for through the same two official portals, nofeesstress.sltf.gov.gh and application.sltf.gov.gh. Bridge Financing is a short-term advance paid to the institution to hold your place. GETFund local awards meet tuition only; foreign awards can add accommodation and travel. Our SLTF guide walks through the repayment ladder.
Bank loans and quick loan apps
Several banks offer school-fee or education loans, mostly to salaried workers paying for themselves or their children. They require proof of admission, payslips or bank statements and often a guarantor or salary assignment, and are priced like other consumer loans, so they cost far more than the SLTF. If you consider one, compare the annual percentage rates that the Bank of Ghana publishes for each bank and ask for the total cost in writing. Avoid informal lenders and quick loan apps for fees: short terms and high charges can turn a small gap into a debt you cannot repay during your studies.
If you cannot repay
The SLTF Act allows the fund to send demand notices, publish the names and photographs of defaulters, report them to credit bureaus and obtain court judgments with a 5% penalty. Because there is no guarantor any more, the debt stays with you, and the record follows you when you apply for other credit. If you lose your income, contact the SLTF before you miss payments. Beware of people who claim they can speed up a loan or a fee waiver for a payment: applications are free and are made only on the official SLTF portals. For school fees paid through a bank account, compare our pages on GCB Bank and Ecobank Ghana.
Before you compare offers, note that a district assembly can act as your corporate guarantor for an SLTF loan through a formal Assembly Resolution signed by the District Chief Executive and the District Coordinating Director, which is useful if no individual will stand for you but a commercial bank still insists on one. Ask your bank for the total cost in writing, then check the annual percentage rates the Bank of Ghana publishes, and keep the admission letter, Ghana Card and institution fee schedule ready before you open a portal account. GCB Bank handles the account the SLTF creates for you, so confirm it is active before disbursement.