President of Regent University advocates Bank for Education

Reverend Dr Emmanuel Larbi, President of the Regent University College of Science and Technology, has called for the establishment of a Bank for Education to provide loans for needy students to fund their tertiary education.

He expressed worry about the increasing high cost of higher education, saying the proposed bank would specialise in the granting concessionary loans with flexible terms of payments to individuals to finance their education.

Dr Larbi made the call at the university’s fifth graduation ceremony organised in Accra, which saw hundreds of students graduating.

“This type of bank can also grant soft loans to educational institutions for them to expand. Funds from (the) type of bank could come from the Social Security and National Insurance Trust,” he said.

Dr Larbi added that the Ghana Education Trust Fund law could also be changed to enable the fund to contribute to the establishment of the bank.

He said the country had not been able to adequately tackle the issue of funding of tertiary education.

Dr Larbi observed that presently, Ghana has 68 accredited diploma and degree awarding institutions, which does not translate to easy payment of fees.

“I think one research that is urgently needed to be conducted in the country, is the research which will inform policy makers regarding the number of qualified prospective students who could neither enrol in the public universities or in the private universities because of lack of money.”

He called on the graduates to make a difference in the midst of the challenges they might face.

Source: GNA