I also want to remind you that, starting Jan. 1, Connecticut college students will be able to benefit from a bill we passed to alleviate student loan debt. The reimbursement program, led by House Democrats and the first of its kind in the nation, provides up to $5,000/year for up to four years (up to $20,000) in loan forgiveness. Six-million dollars has been allocated in the current budget cycle and will be awarded on a first-come, first-served basis.
The Office of Higher Education (OHE) may approve the participation of any person in the student loan reimbursement program who meets the following requirements:
- Must have graduated from a Connecticut state public or private college or university with a bachelor’s or associate degree or have an occupational/professional license or certificate or left such college in good standing and was granted a hardship waiver by the Office of Higher Education.
- Must be a CT resident for at least five years.
- Must have a Connecticut adjusted gross income of not more than $125,000 for single applicants and file a federal tax return as unmarried or have a Connecticut adjusted gross income of not more than $175,000 for married applicants and file a federal tax return as head of household, married filing jointly or a surviving spouse.
- Must have an outstanding student loan balance and have made payments in 2024 toward federal direct loans, federal direct PLUS loans, federal Perkins loans, CHESLA loans, other state-sponsored student loans, or a private student loan.
- Must have volunteered for at least 50 hours at a Connecticut nonprofit organization registered with the Department of Consumer Protection, municipal government, served on the Board of Directors for a nonprofit organization, or has military service after January 1, 2024.
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