The Connecticut Higher Education Supplemental Loan Authority (CHESLA) announced today that its myCHESLA Student Loan will have a 4.95% rate for the third consecutive year. This rate is for the 2017-18 academic year.
CHESLA’s in-school fixed rate loan is available to qualifying students who attend eligible higher education institutions in Connecticut and to Connecticut residents who attend eligible higher education institutions in other states. The 4.95% in-school fixed loan rate for academic year 2017-18 is available to all students who qualify and does not vary based on credit score.
“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.”
CHESLA was created by the General Assembly in 1982 to help students and their families meet the costs of higher education. The mission of the Authority is to expand higher educational opportunities and enhance the State’s economic development through higher education 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. In February 2017, CHESLA partnered with state agencies to launch CT Dollars and Sense (ctdollarsandsense.com), which is a one-stop shop to help students and families plan, save, and pay for college.
The Authority also has a refinance loan product (Refi CT) that began in June 2016.
To apply for a myCHESLA Student Loan, visit chesla.org.