The National Association of Graduate Teachers (NAGRAT) has announced a major review of its Fund Loan Policy, introducing new measures aimed at making loans more accessible and affordable for members across the country.
In a memo issued by the Association’s National Secretariat on June 1, 2026, and signed by General Secretary Michael Ayuraboya, NAGRAT disclosed that the revised policy will take effect from July 1, 2026. The Association said the changes form part of efforts to strengthen financial support systems and improve the welfare of its members.
One of the key reforms is a reduction in the loan interest rate from 12 percent to 10 percent. In addition, loan repayments will now be calculated using the reducing balance method, a move expected to lower the overall cost of borrowing and ease the financial burden on members.
NAGRAT has also increased the maximum loan amount available to members. Under the revised policy, eligible members can now access loans of up to GH¢40,000, providing greater financial assistance for personal, educational, housing, and other pressing needs.
Another significant change is the extension of the repayment period from the previous arrangement to five years. The Association believes the longer repayment duration will give members greater flexibility in managing their finances while meeting their loan obligations comfortably.
The revised policy further introduces a loan top-up facility. According to NAGRAT, members who have repaid at least 40 percent of their outstanding loan balance will qualify to apply for additional funding. The Association described the initiative as a practical way of supporting members who may require extra financial assistance before fully settling their existing loans.
NAGRAT has directed all regional offices to disseminate the new policy details to members and ensure they understand the changes. The Association expressed confidence that the revised loan package will significantly enhance the financial wellbeing of teachers and provide meaningful support in addressing their economic challenges.
Keep following www.gheducate.com for credible news and updates.
