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As the Student Loan Committee makes big progress; President Bio Gets Accolade

14,Aug 2018
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President Julius Maada Bio’s dream to establish a Student Loan Scheme is quickly becoming a reality, as high powered delegation comprising senior officials of the Ministry of Education, Finance, NASSIT and University goes on a study tour to Ghana and Tanzania in consideration of a Student Loan Policy for Sierra Leone.

The delegation includes the Deputy Minister of Technical and Higher Education Dr. Turad Senesie as head of delegation, the Deputy Director General of NASSIS Mohammed Gondoe, Principal Deputy Financial Secretary of the Ministry of Finance Matthew Dingie, Director of Fiscal Risk Management of the Ministry of Finance Dr. Alhassan A. Mansaray, Osman Alpha Kamara Senior Budget Analyst at the Ministry of Finance and Dr. Ezekiel Duramany-Lakkoh Financial Management Consultant, Senior Lecturer and Head, Department of Accountancy at the Institute of Public Administration and Management University of Sierra Leone.

The Committee was constituted to include stakeholders with a wide range of experience in financing education and fund management.

Specifically, the tours are aimed at acquiring a thorough understanding of the Institutional set-up for these countries’ students trust funds; Legal framework; Business processes; Administrative mechanisms; Financing models and Coverage of the trust funds as well as recovery processes of the loans issued to students.

The Committee has visited several institutions connected with the Student Loan Schemes in both Ghana and Tanzania, including; The Ghanaian Student Loan Fund, The Social Security and National Insurance Trust (Ghana), the Ghana Interbank Payment and Settlement, the University of Ghana and the Ghanaian Ministry of Higher Education.  In Tanzania, the committee has met with the The Ministry of Education, Higher Education Student Loan Board, Tertiary Education Commission, Ministry of Finance, University of Dar Es Salaam and the National Social Security Fund in Tanzania.

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