Flagbearer of the National Democratic Congress (NDC) John Dramani Mahama has said that the 'no academic fees for level 100 students' initiative will cost between 270 million and 290 million Cedis. He assured Ghanaians that his administration would raise money to fund this project. Addressing a gathering in Juapong on Tuesday, August 13, Mr Mahama said "we have costed it and we approximate that for all first-year students in public tertiary institutions, it should cost anywhere between  270 to about 290 million Ghana Cedis.  Let me tell you something, the president, a few years ago,  his travel budget in nine months amounted to 69 million Cedis, they held one cabinet retreat at the presidency, it cost almost 5 million Cedis. "There is so much waste in the system and even if you look at the office of the president budget alone you will be able to cut to raise enough money to pay these academic facility user fees for all level hundred students. Do you know the budget for the office of the president? it is 2 billion Cedis every year, it is even now that IMF has come and they have cut it down, at a point it used to be 3 point something billion Cedis every year." He added "we do not want, especially in the first year when the students are coming in for the first time for them to go through what we call fee stress, that is why we call it a 'no fee stress policy' and so we are saying that we can absorb the academic user fee but it will not affect the subventions of governments to the universities and institutions of higher learning. "The subvention from the government has kept declining, we are going to increase the subventions but apart from that we will make sure that universities get their subventions on time so that they can balance their budget."