Connecticut student loans are available to help reduce the worry when it comes to paying for a postsecondary education. In terms of state funded FFELP loans, you'll look to the Connecticut Higher Education Supplemental Loan Authority (CHESLA).

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If you are a student getting ready to attend college in Connecticut, you are probably already fretting over the cost of school you face in the future. Like every other institute of higher learning in the country, the cost of attendance at schools in Connecticut has skyrocketed in recent years. As this rise in expense has occurred, there has been a huge surge in the need for financial assistance for students to afford college. Fortunately, Connecticut student loans are available to help reduce the worry when it comes to paying for a postsecondary education. In terms of state funded FFELP loans, you'll look to the Connecticut Higher Education Supplemental Loan Authority (CHESLA).

The CHESLA has access to tax exempt state educational bonds to fund FFELP loans, meaning that the tax saved by the government on these funds is passed onto the consumer through the reduction of interest rates and the absence of origination fees. The main type of loan disbursed in this manner is the federal Stafford loan, which can be funded with extremely low interest rates. At the same time, the CHESLA also provides alternative loans from private sources.

Alternative loans are different in that they are credit based loans and require the student to have a good credit history or to have a co-borrower with good credit and a low debt-to-income ratio for qualification. Upon approval, you'll receive amounts up to the sum of your entire tuition minus what has been covered by federal grant and loan programs. Also unlike federal loan programs is the fact that, upon disbursement of the loan, students will be required to either begin repayment immediately or at least begin payment on the interest associated with the loan.

Alternative Connecticut student loans can be found through a number of private sources as well, including banks, credit unions, and even specific colleges. With many of these loans, there will be incentives, including the ability to release your cosigner upon a certain period of continuous on time repayment, as well as interest cuts for the same and for direct debit payments.