Resident students of the Constitution State also have access to low cost, fixed interest, loans through the Connecticut Higher Education Supplemental Loan Authority . Much like Federal education loans, CHESLA offers student friendly loans as an alternative to private lenders. These loans offer many advantages over private lender loans. CHESLA loans currently offer fixed interest rates of %, and interest only payment plans for as long as the student remains enrolled in college. There are no application fees, and students may borrow up to the total cost of tuition, less any other approved financial aid.