With a new year, CHESLA is proud to provide borrowers with the tools they need to better manage their student loan debt. The maximum rate CHESLA will charge student loan refinance borrowers on future loans has been lowered from 6.90% fixed to 5.99% fixed, a reduction of almost a full percentage point. Rates range to as low as 4.75%. These new lower rates are representative of our commitment to our borrowers and the State. In the past year, on average Refi CT borrowers were able to reduce their interest rate through refinancing by about 2 percentage points, saving significant dollars. We are very pleased to offer this assistance to our borrowers during these unprecedented times.
Connecticut residents are encouraged to apply today to refinance their student loans, including non-federal loans. Connecticut residents can also visit our website, chesla.org, or contact our office for more information.