In-School Loan Program

Any questions? Please call 860-520-4001

• The student is always the borrower on a CHESLA loan.
  If you are a Connecticut resident under the age of 18, you can apply with a required co-borrower.
• CHESLA loans allow 1 co-borrower on the loan.
• CHESLA encourages you to exhaust your financial aid, scholarship, and Direct Subsidized/Direct Unsubsidized federal student loan options before applying for a CHESLA loan.
• CHESLA loans are available for undergraduate and graduate students.

Eligible Borrowers & Co-Borrowers

• Must be at least the age of majority or older at the time of application based on his/her state of permanent residence. If you are a Connecticut resident under the age of 18, you can apply with a required co-borrower.
• Must be a U.S. Citizen or an an Eligible Non-Citizen.
• You must reside in the U.S. at the time of the application.
• Borrower must be a Connecticut resident or attending an eligible Connecticut state or non-profit, degree granting institution of higher education
• A student must be making satisfactory academic progress.
• A student or co-applicant(s) (if any) must be credit worthy, as determined by a commercial credit report.
• A student or co-applicant(s) (if any) must have monthly debt payments amounting to 43% or less of monthly gross income (Debt-to-Income ratio).
• A student or co-applicant(s) (if any) must have a minimum $20,000 annual gross income. There is no maximum income limit.

NOTE: Applicants are encouraged to pay off any AMEX debt before applying. American Express typically reports the entire balance as the monthly payment, which can drastically impact your Debt-to-Income ratio.