Applications for the Connecticut Student Loan Reimbursement Program will once again be accepted on Friday.
The state Office of Higher Education oversees the program, which offers eligible borrowers up to $20,000 in relief over four years.
According to Noele Kidney, director of communications at the Office of Higher Education, it’s an investment in people who wish to remain in Connecticut, attend schools here, attend college here, and stay and work here.
According to Kidney, the program authorized applications from over 500 borrowers, totaling over $1.5 million in payments, following its first application session in January.
Borrowers must meet certain requirements in order to be eligible, such as having performed at least 50 volunteer hours, living in Connecticut for five years in a row, attending a Connecticut college or university, or receiving a professional or occupational license from a recognized institution.
According to Kidney, the state is aware that certain borrowers are having financial difficulties repaying their college loans.
She stated that the state government is attempting to assist them. We understand that many people are struggling with student loan debt, but if you volunteer in your community, you can earn this as a reward for staying in Connecticut and getting involved in your community.
The Connecticut General Assembly extended eligibility to additional borrowers during the most recent legislative session, which led to the reopening.
In a statement, Governor Ned Lamont said, “We are honored to reopen the doors to this influential program.” This plan is more than just a reimbursement scheme; it is a calculated investment in our neighborhoods, our workforce, and Connecticut’s future. This year’s changes demonstrate our continued dedication to helping people who decide to start their lives and careers in our state.
In a statement, Office of Higher Education Commissioner Timothy Larson said, “This expansion guarantees that we are reaching more of the hardworking Connecticut residents who need relief.” Together with a simplified application process, the improvements demonstrate our dedication to lowering the cost and increasing access to education.
Applications will be accepted on a first-come, first-served basis through December, or until all available monies have been used.
Kidney stated that approximately $8 million had been authorized for the program.
