Student Loans

Connecticut lawmakers propose providing graduate students with loans to make up for federal student loans that were eliminated in the “One Big Beautiful Bill” signed by President Donald Trump last year.

A Connecticut student loan forgiveness program that was allocated $6 million in its first year has paid out $1.4 million, according to state officials.

The Trump administration announced last week that, after five years, the federal government will resume collections on defaulted student loans.

According to the Education Data Initiative, more than 500,000 student loan borrowers in Connecticut collectively owe $18 billion. The state will allocate $6 million to reimburse thousands of borrowers for their 2024 payments.

Connecticut has launched a new program to address a shortage of health care professionals. The program repays up to $50,000 in student loan debt for workers who commit to working full-time for at least two years in underserved areas.

Borrowers in CT will see $13.7 million of student loan balances wiped out, with the potential for more who qualify in the coming months.

U.S. Rep. Jahana Hayes (D-CT) and Senator Debbie Stabenow (D-MI) plan to cut the possible financial burdens that come with teaching in the Teacher Debt Relief Act.

Around 14% of CT residents have student loan debt. According to U.S. Senator Richard Blumenthal (D-CT), some borrowers have had administrative issues since payments returned in October.

Connecticut residents still have access to student loan debt relief despite the U.S. Supreme Court striking down the Biden administration’s student loan forgiveness program.

Connecticut lawmakers are considering legislation that would give a student debt reimbursement of up to $20,000.