Dominique Johnson

Dear Neighbor,
 
Happy Friday!

Please see below for more information on a student loan reimbursement program, Wall Street Wonderland, and more! 

Westport Human Services Department’s annual Holiday Giving Program began last week. The organization is seeking donations to help individuals in our community. 100% of donations go directly to families in need throughout the year.

Donors can spread holiday cheer by contributing to Westport Human Services’ “Family to Family Seasonal Holiday Giving Program” online at www.westportct.gov/donate. Mail-in contributions to Westport Department of Human Services at Town Hall, 110 Myrtle Avenue, Westport, CT 06880. Donations can also be dropped off at Town Hall by appointment.

Westport residents facing financial difficulties can contact Human Services for free, confidential consultation and assistance. Contact Human Services at 203-341-1050 or humansrv@westportct.gov.

For more information , click here or the graphic below. 

The improvements in the State Employees’ Retirement System (SERS) and Teachers’ Retirement System (TRS) are detailed in reports released this week. Our latest independent valuations found both systems to be at their highest funding levels in decades.

The majority of our debt as a state came from decades of underfunding our retirement programs for teachers and state employees. With 13 straight years of the legislature making full payments into these systems, as well as policies we adopted in 2017 that use surpluses to pay down debt, we’ve managed to pay off $8.6 billion of debt early, which saves taxpayers $730 million annually.

Connecticut residents are directly benefiting from this sound fiscal management.

Starting January 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: 

1. 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.
2. Must be a CT resident for at least five years.
3. 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.
4. 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’s sponsored student loans, or a private student loan.
5. Must have volunteered for at least 50 hours at a Connecticut nonprofit organization that is 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.

This program represents a true bipartisan effort and will have a direct impact not only on Connecticut’s economy but also on its workforce.
 
Questions should be directed to OHE.SLRP@CT.GOV. The application process opens on January 1. For more information or to apply in January, click HERE.