Connecticut’s Student Loan Reimbursement Program will offer qualifying residents up to $5,000 a year for up to four years to help them pay off their loans.
Applications for the $6 million program open on Jan. 1, 2025, and the money will be distributed on a first-come, first-served basis. Applicants must meet a slew of qualifications to be eligible, including a community service requirement.
Here’s what to know about the program:
The program will reimburse eligible individuals for up to $5,000 of the student loan payments they made in the prior year.
For example, if a person’s student loan payments were $100 a month in 2024, they can be reimbursed for $1,200. But if a person paid $500 a month in student loans in 2024, they would receive reimbursement for $5,000 of the $6,000 they spent.
