CT-SLP Application: Application for Student Loan Payment Tax Credit (2025)
Connecticut · Connecticut DRS · Used for tax years 2025
Form CT-SLP is an application for a Connecticut business tax credit voucher for certain student loan payments. It collects employer and employee information, planned payments toward eligible loan principal balances, and the requested tax credit amount.
Who files this form
Qualified employers use Form CT-SLP to request a business tax credit voucher for certain student loan payments made directly to an eligible education loan on behalf of a qualified employee.
For income years beginning on or after January 1, 2025, the credit is available against Insurance Companies and Health Care Centers Taxes or Corporation Business Tax. Certain small businesses may elect to receive the credit as a refund.
A qualified employee must:
- Be a Connecticut resident.
- Have earned their first bachelor's degree from an institution of higher education within the immediately preceding five-year period.
- Work full-time in Connecticut for a qualified employer.
- Not be an owner, member or partner of the employer, or a family member of an owner, member or partner.
- Have received an eligible education loan.
What you'll need
Have the following information ready to complete the application:
- Corporation name, Connecticut tax registration number, address, telephone, email and website, if available.
- Primary contact person's name, address, telephone and email.
- Whether the business is registered with the Connecticut Secretary of State.
- Each qualifying employee's name, Social Security number, Connecticut residency status and full-time Connecticut employment status.
- Each employee's student loan servicer and the payments intended for the loan's principal balance.
- The signing company officer's name, title, phone number and email.
Attach additional student loan payment schedules as needed.
How to file
- Complete Part I with the applicant and primary contact information.
- Complete Part III with each qualifying employee's information and planned loan principal payments. Do not enter more than $5,250 for any employee. Total the qualified payments and attach additional schedules as needed.
- Enter the total qualified payments intended to be made before the end of the income year on Part II, Line 1. Multiply Line 1 by 50% (.50) and enter the requested credit on Line 2.
- Have a company officer sign and date the officer certification and provide the requested contact information.
- Mail the completed application to:
DEPARTMENT OF REVENUE SERVICES
STUDENT LOAN PROGRAM - CBTA
450 COLUMBUS BLVD STE 1
HARTFORD, CT 06103-1837
Common mistakes
- Do not enter more than $5,250 in loan principal payments for any employee in Part III.
- Do not exceed the credit limit of $2,625 per qualified employee for an income year.
- Attach additional schedules when needed to list student loan payment information.
Questions people ask
How much is the credit?
The credit equals 50% of the payments the qualified employer makes toward the outstanding loan principal during the income year, up to $2,625 per qualified employee.
Can the credit be issued as a refund?
Certain small businesses may elect to receive the credit as a refund. The form does not give further details about which small businesses qualify.
What if an employee worked and lived in Connecticut for only part of the year?
An employer may claim the credit for a payment made during the part of the income year when the qualified employee worked and resided in Connecticut. An employee who worked and resided in Connecticut for any part of a month is treated as having done so for the entire month.
Does any bachelor's degree meet the employee requirement?
The employee must have earned their first bachelor's degree from an institution of higher education in the immediately preceding five-year period. The employee must also meet the other qualifications listed on the form.