GETFund spends GH¢33.7 million on scholarship for 2023/2024
The Ghana Education Trust Fund (GETFund) has extended scholarships to 5,026 students for the 2023/2024 academic year.
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The number constitutes fresh scholarships for the just-ended academic year that covered tuition fees to the tune of GH¢33.74 million for the beneficiaries in 145 local tertiary (public and private) institutions.
The 2023/2024 scholarships also reflect an increase of 15 per cent compared with the 2022/2023 academic year that had 4,276 awardees to the tune of GH¢25 million.
This is an increase in financial commitments of GH¢8 million, representing 24 per cent rise.
Breakdown
Out of the total awarded beneficiaries of 5,026, males constituted 2,733, representing 54 per cent, while the remaining 2,293, representing 46 per cent, were females.
The Administrator of GETFund, Dr Richard Ampofo Boadu, who briefed the Daily Graphic explained that approximately GH¢21,528,355.51 was spent on science, technology, engineering and mathematics (STEM) related programmes representing 64 per cent of the allocations, while the remaining GH¢12.2 million went into the humanities.
He explained that those disbursements were aligned with the government goal of enhancing STEM and technical and vocational education and training (TVET) education across all levels.
Dr Boadu added that 440 of the beneficiaries were reading PhD programmes, 1,529 were on various masters’ programmes, while the remaining 3,497 of them were reading undergraduate, high national diploma (HND) and certificates courses.
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Prompt payment
Aside from the funds spent on those fresh scholars, the GETFund Administrator said the fund would continue to ensure prompt payments to all universities where its scholars were active continuing students.
Dr Boadu explained that so far, 90 per cent of the beneficiaries had had their fees settled with the remaining 10 per cent having some few issues to be ironed out.
“In a proactive move towards ensuring that fresh awardees do not struggle with registration of courses, the fund has reached out to the various universities to allow scholars to go through registration processes as the fund goes through the routine financial protocols to make the diligent payments to deserving institutions.”
“GETFund will continue to make investments in the local tertiary institutions that include the GTEC accredited traditional public universities, the technical universities, private universities, colleges of education, nursing and midwifery training colleges (NMTCs/NTCs) among other accredited post-secondary institutions,” Dr Boadu gave an assurance.