On Monday, June 12, the Connecticut Higher Education Supplemental Loan Authority (CHESLA) announced that its myCHESLA Student Loan will have a 4.95 percent rate for the third consecutive year, namely the upcoming 2017-2018 academic year.
The in-school fixed rate loan offered by CHESLA will be available to qualifying students who are enrolled at eligible higher education institutions in Connecticut. The CHESLA loan will also be made available to Connecticut residents who attend higher education institutions in other states.
“The Authority is very pleased to offer student loans at a fixed 4.95% interest rate”, said CHESLA’s Executive Director Jeanette W. Weldon, “CHESLA’s low fixed rate provides an excellent financing option for Connecticut students and their families.”
Created by the General Assembly in 1982, CHESLA aims to help students and their families meet the costs of higher education. The Authority’s mission is to create more higher educational opportunities and enhance Connecticut’s economic development through higher education.
CHESLA accomplishes their mission in part by providing cost-effective education financing programs and information resources to Connecticut students, alumni, and their families.
Since 1985, CHESLA has generated more than 43,000 in-school loans totaling in excess of $420 million. CHESLA also partnered with state agencies to launch CT Dollars and Sense in February of 2017. CT Dollars and Sense is a one-stop stop to assist students and families plan, save, and pay for college.
The Connecticut Higher Education Supplemental Loan Authority also introduced a refinance loan product, known as Refi CT, back in June of 2016.
Author: Mike Brown
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