Accra, Nov. 5, GNA - The University of Cape Coast Secretariat of the The National Union of Ghana Students (NUGS) on Monday expressed concern about the late disbursement of loans to students this academic year and asked for a speedy disbursement since the students needed money to pay various fees.

A statement signed by Mr Theophilus Tawiah, Local NUGS President, appealed to students to exercise restraint until the issue was resolved. He commended the Student Loan Trust Fund (SLTF) for taking steps to disburse loans themselves and for the establishment of campus offices on the various campuses.

However, it noted, the disbursement of the loan for this academic year for the University of Cape Coast had unduly delayed and students had barely three weeks to go on vacation.

"The purpose of the loan is to accommodate students while they are in school with regard to spending on Academic Facility User Fees (AFUF), Resident Facility User Fees (RFUF), balance diet, transportation, printing, photocopying and stationery."

The statement noted that over 98 per cent of beneficiaries in the University of Cape Coast had not received their loans "and were crying profusely".

NUGS reiterated that the interest at 182 day treasury bill compounding annually in the year of study, National Service and Grace Period and also 182 day GOG Treasury bills plus two per cent in the repayment period was injurious, suicidal and not in the interest of Ghana students.

"Ghana's economy has shown bad inflation pattern until recently. However, it is apt to consider the unpredictable nature of economy in making decisions. For that reason, the ceiling rate of 12 per cent agreed between NUGS National and SLTF should be documented for all beneficiaries to see."