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CHESLA expands access to student loans » CBIA

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The Connecticut Higher Education Supplemental Loan Authority can now use excess funds to support people who want to pursue “high value” certificate programs.

Legislation approved by the General Assembly this year expands loan eligibility from October 1, 2022 to include the term “post-secondary education programmes” under the responsibility of CHESLA’s funding arm.

Previously, the law only allowed CHESLA to support those seeking “college” post-secondary education opportunities.

The CFIA strongly supported this bill, noting that post-secondary education has taken on a different meaning in recent years.

Affordability

The average student graduating with debt in Connecticut owes $41,579, the highest debt load in the country, according to the date compiled by LendEDU.

While the CBIA continues to encourage students to pursue education at traditional post-secondary institutions, many companies see the value in short-term certificate programs.

Programming often provides students with the skills needed to succeed in various industries.

The average student graduating with debt in Connecticut owes $41,579.

Certificate programs such as those offered by Google, IBM, Amazon and many others provide credentials at a lower cost and open the door to new opportunities.

Despite the low cost of enrolling in the programs, many students still face financial barriers to paying other costs associated with completing their courses.

Some are unable to find funds for a laptop computer for an online course, reliable high-speed Internet access, or transportation.

The CBIA supports efforts to make post-secondary education more affordable and accessible, in the form that best suits the individual to help them achieve economic independence.