Connecticut FELP loans are obtainable for under-graduate,
graduate, and professional studies. Moreover, a student must
be registered in a degree granting or diploma program on at
least a halftime basis in a recognized non profit college
or university in Connecticut, or should be a Connecticut
inhabitant attending an recognized non profit college or university
in the U.S. Also, the financial aid office of the college
or university a student enrolled must certify the student's
registration and education fee.
However, a student must make acceptable educational
progress. A student and co-applicants if any have to be credit worthy, as
resolute by a profitable credit account. Also, the student and co-applicants
must have monthly installment defrayals amounting to 40 percentages or less of
monthly gross earnings. In addition, the student or co-applicants should have
minimum $20,000 gross yearly earnings, but there is no maximum earnings
Student Loan Foundation
The Connecticut Student Loan Foundation (CSLF) is
a state chartered, non profit organization which administers
guarantees, funds, and services loans inside the Federal Family
Education Loan Program and additional alternative student
loan programs. It was created in 1965, and offers qualified
students and their families, with inexpensive higher education
loan products and adapted premium service, in spite of the
state of citizenship. In addition, by serving as sponsor,
lender, and servicer CSLF is capable to supply every kind
of loan services from application through reimbursement. CSLF
offer fee free Stafford Loan with a 4% reduction on the original
principal sum of the credit following 33 well-timed automated
defrayals, with a .25% rate of interest cutback for auto debit.
Moreover, they proffer PLUS loans at up to 1% lower than the
federal rate. In addition, they proffer Consolidation loans
with a 2% reduction on the original principal sum following
24 successive punctual defrayals, plus a .25% reduction in
rate of interest for auto debit.
CSLF - A Guarantor:
As a guarantor, CSLF guarantees that low rate of interest
Federal Subsidized Stafford Loans, Federal PLUS Loans, and Federal
Consolidation Loans continue to be available for qualified students and parents
through lots of financial organizations taking part in the Federal Family
Education Loan Program (FFELP).
CSLF works co-operatively with lenders, finance services,
post-secondary institutions, and borrowers to combat student
loan non-payment. Therefore, these efforts have contributed
to CSLF's student loan
non-payment rate remaining under the nationwide average.
To develop ordinary strategies and measures, data
principles, and regulatory approach, CSLF works co-operatively with other
members of the FFELP society. And these co-operative efforts make it simpler
for schools, loaners, and students by shortening the exchange of data between
the program applicants and decrease the managerial troubles.
CSLF offer schools and borrowers with the facility to access
account details via EnRoute, which is CSLF's internet based
loan processing and management system. EnRoute provides all
guarantee and servicing details through a single system.
CSLF works together with industry associates to give a range
of loan processing alternatives based on the necessities of the organization,
with Central Disbursement Services for loaner associates and other internet
based finance processing services.
CSLF assists to guarantee the honesty of contribution within
the student loan plan. CSLF carry out assessments
and inspection of schools and lenders every year. During these
reviews, CSLF examines school and loaner records to make sure
that the policy governing the student loan programs are correctly
managed. Besides, CSLF suggests enhanced practices to guarantee
appropriate stewardship of federal student help dollars.
CSLF: A Lender or Servicer or Secondary
Market In the function of a lender and secondary-market, a
division of CSLF, Susie Mae, is able to make FFELP credits
directly to the students and parents and to buy offered portfolios
from the lenders. They offer flexible reimbursement plans
to simplify the reimbursement of loans based on the individual
CALS: Connecticut Assistance for Loan Servicing is
the Student Loan
Servicing Department of CSLF. And CALS is a nationwide Servicer
of FFELP and private student loans whose promise is to supply
better service to every student loan clients. CALS began servicing
Connecticut assured student loans in 1981 and at present services
the loans assured by other national sponsors and private student
CSLF - A Provider of Early Awareness: Investing in
Futures (IF), is CSLF's early consciousness plan which gives
aid to the students, families, school counselors and community
groups concerning all aspect of monetary help and college
planning. Moreover, these services are free of cost.
Center: CSLF's Resource Center offers free
personalized help and details to the community on college
preparation and the financial help process.
Tailored Workshops and Presentations: IF
staff members offer workshops for the students, parents, academic
professionals, and community groups. Many of the seminar topics
are held at high-schools all over the state of Connecticut,
consist of the sessions on financial help and college scheduling,
seminars for the achievement of financial help forms, and
expert development programs for teaching professionals.
Online-Resources: The IF website offers
interactive tools and calculators, useful tip sheets, timelines,
links, and other significant details to help with college
planning and attentiveness.
Community-partnership: IF expands partnerships
with neighborhood community groups to supply significant details
and presentations about college planning and financial help.
CSLF - An Ambassador of Higher Education:
1. CSLF provides a range of helpful training to students,
parents, and educational institutions and free preprinted applications, debt
management details and training programs, non-payment prevention programs,
entry and exit counseling, student and parent presentations, and toll free
2. It performs several training programs for campus and
loaner representatives. Since, these training programs permit schools and
lender team to share the best practices and find out regarding new systems and
services. Also, CSLF offers non-payment prevention, cash management training
and other services honestly to the borrowers.
3. It is a guarantor of programs like gear-up and Mapping
your outlook. These plans assist families to organize economically and
academically for the college.
4. It is a co-sponsor of yearly training program which is
intended particularly for high school management counselors. And a scholarship
is awarded at the fair for one of the high-schools in attendance.
5. Moreover, it proffers the Vincent J. Maiocco Scholarship
which awards scholarships to the students who funding their learning via
student loans assured by CSLF.