Middletown Lawmaker Touts
Refi CT Loan Program
Solutions
Available To Reduce Debt Burden
State Rep. Matthew Lesser
(D-Middletown), chairman of the legislature’s Banking Committee, is excited to announce
new options for reducing the burden of student loan debt. Refi
CT is a pilot program with more than $5,000,000
to lend at interest rates as low as 4.25%.
Borrowers may request a five, ten, or fifteen year repayment term.
"Being
able to refinance student loans is really a game changer for thousands of Connecticut residents,”
says Rep. Lesser. “And it will help our
economy as a whole - everything from housing to job starts. Refi
CT is the culmination of a year and a half of
work, and I'm proud of my role in helping usher in this important new
tool."
Eligible
borrowers must be a Connecticut
resident seeking to refinance a CHESLA, federal or private student loan. Borrowers from outside Connecticut who are seeking to refinance a
CHESLA loan are also eligible. And the
program also allows a borrower to refinance parent PLUS loans taken on their
behalf while in school.
CHESLA
was created by the General Assembly in 1982 and helps students and their
families meet the costs of higher education as a supplemental loan source. With Refi CT, CHESLA will also serve borrowers
who are no longer students, but who are working to repay their student
loans. Since 1985, CHESLA has originated
approximately 43,365 loans totaling $420,336,485.
No comments:
Post a Comment
Authors of comments and posts are solely responsible for their statements. Please email MiddletownInsider@gmail.com for questions or concerns. This blog, (and any site using the blogger platform), does not and cannot track the source of comments. While opinions and criticism are fine, they are subject to moderator discretion; slander and vile attacks of individuals will not to be tolerated. Middletown Insider retains the right to deny any post or comment without explanation.