CHESLA and the Connecticut State Department of Education Announce Launch of the CHESLA Alliance District Teacher Loan Subsidy Program to Incentivize Teacher Recruitment and Retention
(Hartford, CT) - The Connecticut Higher Education Supplemental Loan Authority (CHESLA) and the Connecticut State Department of Education (CSDE) are excited to announce the launch of the CHESLA Alliance District Teacher Loan Subsidy Program signed into law by Governor Ned Lamont on August 19, 2021. This programis subject to available funding and offers a 3% interest rate subsidy on Alliance District Teacher Refinance Loans (to refinance existing private student loan debt) to teachers employed by any of Connecticut’s 36 Alliance District public schools. Teachers will continue to receive the 3% interest rate subsidy as long as they continue to teach in an Alliance District public school and maintain a current Connecticut Educator Certification. The subsidy can result in substantial savings for participating teachers. Interest rates on Alliance District Teacher Refinance Loans, including the 3% subsidy, range from 0.75% to 2.49%, with terms of 5, 10, or 15 years.
The Teacher Loan Subsidy Program will help to recruit and retain teachers in these districts, impacting the educational experiences and outcomes of traditionally underserved students and families across the state. CHESLA worked closely with CSDE as well as talent officers from several Alliance Districts in designing the program to ensure it will effectively address the difficulties associated with recruiting and retaining teachers in Connecticut Alliance Districts.
“Teachers do more than teach our children, they are active parts of students’ lives and offer extra levels of support and guidance both in and outside of the classroom,” said Lt. Governor Susan Bysiewicz. “Having a diverse teaching workforce allows teachers to connect with a variety of students and allows teachers to collaborate and learn from each other to benefit all the students they serve. This CHESLA Alliance District Teacher Loan Subsidy Program is a great example of how Connecticut is thinking outside of the box to promote community and workforce development.”
“The CHESLA Alliance District Teacher Loan Subsidy Program is a strategic initiative aimed at recruiting and retaining high-quality teachers in our school districts with the greatest need,” State Department of Education Commissioner Charlene M. Russell-Tucker said. “The State Department of Education thanks and looks forward to continuing its work with CHESLA, Connecticut Educator Preparation Programs, and Alliance Districts.”
“This program is an example of the unique way that CHESLA can impact workforce and community development. As the state-affiliated student lender in Connecticut, we can share the benefits of our low-cost funding to help Connecticut communities and school districts. We look forward to working with CSDE to administer this program,” said Jeanette W. Weldon, Executive Director of CHESLA.
CHESLA Assistant Director Josh Hurlock, stated “CHESLA continues to support the state’s workforce and economic development goals through our loan and scholarship programs. This program will provide us with a new tool that can broaden our impact.”
CHESLA serves as a leading resource for Connecticut students as they plan their post
-secondary education—not only by providing financing, but also by providing information and tools for students and families to make informed decisions. By providing grants and additional financing options, CHESLA works to help students succeed and prepare to enter the state’s workforce.
Teachers in Connecticut Alliance District public schools are encouraged to apply online at www.chesla.org.
For Immediate Release July 12, 2022
Eric Scoville, Director of Communications
Josh Hurlock, Assistant Director, CHESLA
- Twitter: CT State Department of Education Twitter
- Facebook: CT State Department of Education Facebook