- Funding Source: The NDC plans to fund its proposed ‘No-Fees Policy’ for first-year university students primarily through the Ghana Education Trust Fund (GETFund).
- Policy Cost: The estimated annual cost of the policy is between GH₵250 million and GH₵300 million.
- Uncapping GETFund: Samuel Okudzeto Ablakwa explained that the NDC would uncap GETFund and discontinue the Daakye Bond to unlock additional funds, making more resources available for the policy.
- Redirecting Expenditures: John Mahama indicated that a future NDC government would also redirect wasteful government expenditures to support the initiative, further ensuring its feasibility.
Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu, has provided details on how the National Democratic Congress (NDC) plans to fund its proposed ‘No-Fees Policy’ for first-year university students if the party wins the 2024 elections. This policy, aimed at reducing the financial burden on parents, was announced during the launch of the NDC’s Youth Manifesto by the party’s flagbearer, John Mahama.
Addressing concerns raised by critics about the feasibility of the policy, Mr. Ablakwa explained on Joy FM’s *Newsfile* that the NDC intends to rely on the Ghana Education Trust Fund (GETFund) as a primary source of funding. He highlighted that the Mahama administration would reverse the current capping on GETFund introduced by the incumbent government, thereby unlocking additional funds.
According to Mr. Ablakwa, the cost of implementing the policy is estimated to be between GH₵250 million and GH₵300 million annually. He argued that this amount is attainable if the cap on GETFund is removed and the Daakye Bond, which ties up funds, is discontinued. He revealed that out of GH₵7 billion accrued into the GETFund, only GH₵3 billion is currently available due to the capping and collateralization tied to the bond.
The NDC, he said, has conducted thorough research and analysis, confirming that eliminating the cap and freeing up the GH₵4 billion currently inaccessible would provide sufficient funds to finance the no-fees policy, ensuring broader access to tertiary education for Level 100 students in Ghana.
Additionally, John Mahama, speaking at a Youth Town Hall Meeting at Ho Technical University, emphasized that a future NDC government would also redirect wasteful expenditures to support the initiative, reinforcing the party’s commitment to easing the financial burden of education on families.
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