Dr. Peter Boamah Otokunor, the Director of Interparty and Civil Society Relations for the National Democratic Congress (NDC), has addressed concerns regarding funding the party’s proposed ‘no academic fees for level 100 students’ initiative.
Otokunor assured that financing the program would be a manageable challenge for an NDC administration, emphasizing that the initiative would be a necessary response to the financial barriers many students face.
In a recent appearance on TV3’s Key Points, Otokunor explained that the funding for this initiative would be feasible by decapping the Ghana Education Trust Fund (GETFund). He estimated that GETFund could provide up to 300 million Cedis annually, which would cover the costs of waiving academic fees for first-year students.
He criticized the current administration for collateralizing GETFund, which he claims has negatively impacted university subventions.
Otokunor also emphasized the need to improve the Student Loans Trust Fund allocations to support the initiative. He criticized the current government’s use of GETFund for “frivolous projects”. He suggested that addressing moral hazards and corruption, such as ghost names, would be critical for ensuring the initiative’s success.
“This policy was made advisedly to address the significant financial challenges students face,” Otokunor stated. He highlighted the difficulty many students encounter in paying for their university education and stressed that the proposed policy aims to alleviate this burden.
Prof. Gyampo’s Support and Concerns
Professor Ransford Gyampo of the University of Ghana expressed support for the initiative, noting that it would benefit needy but talented students who struggle to pay for their education. However, given the current decrease in government subventions, he voiced concerns about the impact on university revenues.
Gyampo acknowledged his initial apprehension about the policy potentially reducing university funding but was reassured by Mr Mahama’s commitment to increasing and timely releasing subventions to universities. He pointed out that decreasing subventions have forced universities to use funds primarily for salaries, leaving little for operational expenses like utilities.
Mr. Mahama’s Proposal and Financial Strategy
In his announcement of the policy, John Dramani Mahama projected that waiving academic fees for level 100 students would cost between 270 and 290 million Cedis.
He proposed funding the initiative through cost-saving measures, including cuts in government expenditure and reducing waste.
Mahama criticized the current administration’s spending on non-essential activities and suggested reallocating funds from the presidential budget to cover the initiative’s costs. He assured that implementing the ‘no fee stress’ policy would not detract from existing university subventions but rather be supported by increased and timely funding.
Overall, the NDC’s proposal aims to ease student financial pressures and ensure that education is more accessible. It strongly emphasizes managing funding effectively and addressing systemic inefficiencies.
