Governor Ned Lamont today condemned the U.S. Supreme Court for siding against low and middle-income families in need of debt relief and reminded Connecticut employers and residents of the tools made available by his administration and the Connecticut General Assembly to address student loan debt in Connecticut.
“Today’s decision from the U. S. Supreme Court deals a crushing blow to over 200,000 hardworking Connecticut residents who were already approved for this much-needed student debt relief,” Governor Lamont said. “As the land of opportunity, we should be in the business of building ladders, not cutting off lifelines. Although the U.S. Supreme Court has blocked federal assistance, Connecticut offers a generous tax credit to employers that provide student loan assistance and a debt-free community college program that more than 10,000 students have already taken advantage of. We also have targeted relief programs for teachers, nurses, and social workers. I encourage all employers to step up to the plate and take advantage of state incentives to help pay down their employees' student loans.”
In 2019, Governor Lamont took bold action to get Connecticut’s economy moving in the right direction, signing Public Act 19-86, which created a new tax credit for Connecticut employers who help pay off their employees’ student loans. The tax credit was expanded in 2022. This public-private solution to the student debt crisis offers employees much-needed relief while also providing businesses with another tool to recruit the talented workforce they need to succeed.
The Connecticut Higher Education Supplemental Loan Authority (CHESLA) offers competitively priced loans, including refinancing opportunities, to all residents. In addition, the state sponsors loan and tuition support for teachers, nurses, and social workers through career-targeted programs. Teachers working in one of Connecticut’s Alliance District public schools can get help refinancing their private student loan debt through the Alliance District Teacher Loan Subsidy (ADTLS) Program. Aspiring nurses and social workers can receive up to $10,000 in tuition assistance through CT Health Horizons, a three-year higher education program designed to address statewide shortages in nursing and behavioral health providers.
The decision to overturn President Biden’s student loan forgiveness plan leaves millions of a Americans saddled with debt and futures in limbo. In recent years, a growing number of Connecticut leaders have commended Governor Lamont for taking action to stimulate the state’s economy and close the wealth gap by establishing dedicated pathways for the hardworking people of Connecticut to pursue a higher education debt-free.