The effect of the students loan scheme on access to higher education in Ghana: a case of Kwame Nkrumah University of Science and Technology, Kumasi

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November, 2015
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Many factors have been accounted for the rising cost of tertiary education financing in Ghana. These factors have affected the accessibility of tertiary education. A solution to the financial austerity in tertiary education is cost sharing which is seen to improve accessibility mostly to the minority who cannot pay for the high fees charged for tertiary education. The major cost sharing policy in Ghana is carried out by the Students' Loan Trust Fund (SLTF) which replaced the previous one operated by SSNIT. The study sought to ascertain whether the SLTF has helped improve access to tertiary education in Ghana using Kwame Nkrumah University of Science and Technology (KNUST) as a case study. Using a systematic random sampling method, 285 students already on the SLTF were sampled and questionnaires were administered to them. Using descriptive statistics to analyze the data, the study revealed that the SLTF has improved access to tertiary education in Ghana. The study further revealed the SLTF is managed well to meet its purpose of enhancing accessibility. The study also found that the amount paid as loan per academic year to students is not enough to meet all the needs of the students. Despite methodological and generality limitations, the findings of the study provided important findings relevant to improving the SLTF in Ghana. As such the study recommended that the loan amount be increased and loans paid on time to help students on the scheme.
A thesis submitted to the Department of Marketing and Corporate Strategy, Kwame Nkrumah University of Science and Technology (KNUST) in partial fulfillment for the award of the degree of Master of Business Administration (Strategic Management and Management Consulting Option),