Student Loan Repayment Guide
The Department of Consumer Protection with the Office of the Attorney General and the Department of Banking has created a guide that applies to borrowers with federal loans available in seven languages. Private loans, such as those issued by a bank, credit union, or school, may be subject to different rules. We encourage anyone who works with communities who may find this information useful to post this guide on their website, and make it available however they feel is needed.
Connecticut ranked seventh in the nation with an average student loan debt of $29,750 for students graduating in 2014 from public and private non-profit four-year colleges. This gives Connecticut one of the highest student loan debt rates in the country. That’s just one of the reasons why our agencies collaborated to develop this guide.
Information for this resource was compiled from a variety of sources, including the U.S. Department of Education and Consumer Finance Protection Bureau, to help borrowers understand their loans, their rights and responsibilities, repayment options and how to avoid being a victim of scams.
The information provided in this guide is intended as a helpful starting point rather than a comprehensive and definitive source for all information that may be relevant to a particular student loan borrower. The information provided here is current as of January 2016.
This guide is one part of a larger effort to make sure borrowers have the resources they need to pay off their loans. You can continue to visit this page to look for updates on new programs to aid borrowers, and we will make sure to keep the public updated as we move forward.
If you're working on paying back your student loans, you should also check out this new tool from the US Department of Education that helps you chose the best repayment option for you.
The Student Loan Repayment Guide is available for download in the languages below: