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    Sunday, May 05, 2024

    State launches discount loans for teachers in Alliance Districts

    The new program offers teachers working in struggling Alliance Districts 3% interest rate subsidies on student loan debts.

    Over a year ago, Alliance District superintendents came up with an idea to help recruit and keep good teachers in the state’s struggling and mostly urban school districts.

    Legislators and Gov. Ned Lamont listened, passing a law in 2021 to offer a student loan subsidy to teachers working in any of the state’s 36 designated Alliance Districts, which include the Norwich, New London and Groton school districts.

    School systems designated by the state as Alliance Districts due to financial need and student achievement gaps receive additional state grant funding.

    On Tuesday, the state Department of Education and the Connecticut Higher Education Supplemental Loan Authority, CHESLA, rolled out details of the loan subsidy program. It offers a 3% interest rate subsidy on Alliance District Teacher Refinance Loans, allowing participating teachers to refinance private student loan debt with the 3% interest discount. Teachers must continue to teach in an Alliance District and maintain a current Connecticut education certificate to retain the discount.

    According to state education officials, the 3% subsidy could bring student loan debts to interest rates ranging from 0.75% to about 2.49% over loan periods of five, 10 or 15 years.

    Norwich school Superintendent Kristen Stringfellow called the teacher loan discount “so exciting!” and said the idea came up during an Alliance District Superintendents group meeting last year. She said the group presented it to the state education commissioner’s staff and was pleased state officials implemented it so quickly.

    “I think it is a wonderful idea,” Stringfellow said in emailed comments to The Day. “This initiative will enhance recruitment opportunities and will incentivize teachers to stay in Norwich and other CT Alliance districts. I applaud the Commissioner for supporting this idea and making it happen.”

    Robert A. Stacy, New London school district director of talent and human resources, said it will take time to show results of the new program with concrete data, but he expects it to help New London attract quality teacher candidates.

    “This is another wonderful addition to assist us in attracting and retaining talent, especially in these challenging economic times,” Stacy said in an email comment to The Day.

    State Department of Education officials said the office worked with CHESLA and officials from Alliance Districts to design the program to address the difficulties the districts are having with recruiting and retaining quality teachers.

    Lt. Gov. Susan Bysiewicz said at Tuesday’s announcement that the program is part of the state’s community and workforce development efforts.

    “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,” Bysiewicz said in a news release accompanying the announcement of the program.

    c.bessette@theday.com

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