Paying off student loans in CT? A new program could help

Applications are live for Connecticut’s new student loan reimbursement program.

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To qualify, applicants must have gone to and graduated from a college or certificate program in Connecticut, lived in the state for the last five years, paid into a state or federal-sponsored student loan, and not make more than $125,000 (or $175,000 if filing jointly). They must also have done 50 hours of community service at a Connecticut nonprofit in 2024.

Mike Criscuolo is the associate fiscal administrative officer at the Connecticut Office of Higher Education.

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“The amount of student loan debt has just ballooned over the last many years,” Criscuolo said. “So this is just an opportunity for residents of Connecticut that are struggling with their loan debt to have some sort of relief.”

According to information cited by Gov. Ned Lamont’s office from the Education Data Initiative, there are more than 500,000 student borrowers in Connecticut. Together, they owe more than $18 billion in student loan debt.

The application for the state’s new program is open until March 31. Criscuolo said they’re expecting hundreds of thousands of applications, but only a few thousand people will be selected on a first-come, first-served basis.

The amount of money each applicant is eligible for is based on how much they paid in student loan payments in 2024. Up to $5,000 is available for each person, for a total of $20,000 over four years. (So, if a person paid $2,400 toward their loans last year, that’s what they’re eligible to get back).

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Reimbursement recipients will be notified shortly after March 31, and payments are expected to go out later in April.

The program is funded by $6 million from the state and was authorized by the legislature during the 2024 session. Criscuolo said the hope is for more funding to be allocated each year.

To find more information and the application for Connecticut’s new student loan reimbursement program, go to www.OHE.CT.GOV.