CHESLA student loan rates drop

Student Loans

State Representative David Zoni (D-Southington) is welcoming the recent announcement by the Connecticut Higher Education Supplemental Loan Authority (CHESLA) that it will offer a fixed interest rate of 4.95 percent for new student loans, down from its current rate of 6.75 percent.

“This new rate announced by CHESLA is certainly great news for students and their parents,” Rep. Zoni said in a press release. “The lower rate, nearly 2 percent, will help lessen debt for students and help to make higher education more affordable.”

In the release, Rep. Zoni pointed out that the announcement of a lower rate follows passage of legislation earlier this year which he supported that asked CHESLA to develop a plan to lower student loan interest rates.

The new 4.95 percent rate is also lower than the Federal PLUS loan rate which will be 6.84 percent and is the lowest rate CHESLA has ever offered.

Rep. Zoni praised the work of CHESLA in his press release and all the various partners who worked to make the lower rate possible.

Students and parents can contact CHESLA at www.chesla.org for specific information or call at (800) 935-2275.

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