About CHEFA
About CHEFA Menu
Connecticut Health and
Educational Facilities Authority
CHEFA’s Vision
Be the State’s “go to” resource for innovation financial solutions that serve Connecticut residents and enhance their quality of life.
CHEFA was established by the Connecticut General Assembly in 1965 pursuant to Chapter 187 of the Connecticut General Statutes. Created to strengthen Connecticut’s nonprofit infrastructure, CHEFA provides access to tax-exempt bond financing and other financial tools for healthcare providers, educational institutions, childcare providers, and other eligible nonprofit organizations. Since its founding, CHEFA has issued more than $26.7 billion in tax-exempt bonds and awarded over $53.4 million in grant funding statewide. Through its subsidiary, the Connecticut Higher Education Supplemental Loan Authority (CHESLA), CHEFA has also provided more than $652 million in affordable student loans and over $12.6 million in scholarships to Connecticut students. CHEFA carries out this essential public purpose without the use of state appropriations or taxpayer funds.
A Letter from the Chair
Dr. Peter Lisi
Chair, Board of Directors
In 2025, the Connecticut Health and Educational Facilities Authority (CHEFA) proudly marked 60 years of service to the State of Connecticut. As the State’s oldest quasi-public agency, CHEFA has spent six decades advancing opportunity, strengthening essential institutions, and supporting the nonprofit organizations that serve our communities every day.
Since its founding in 1965, CHEFA has issued more than $26.7 billion in tax-exempt bonds to help educational institutions, healthcare providers, childcare providers, and other eligible nonprofit entities build, modernize, and expand. These investments have strengthened hospitals, campuses, schools, and community-based organizations that form the backbone of Connecticut’s civic and economic life.
CHEFA’s impact extends beyond financing. Through its subsidiary, the Connecticut Higher Education Supplemental Loan Authority (CHESLA), it expands access to higher education by providing affordable student loans—more than $652 million to date—and over $12.6 million in scholarships to Connecticut students. Through the CHEFA Community Development Corporation (CHEFA CDC), CHEFA can work to ensure that residents across the State have equitable access to opportunity, regardless of socioeconomic status.
In addition, CHEFA has awarded more than $53.4 million in grant funding to programs and projects that directly enhance the well-being of Connecticut residents. Whether supporting capital improvements, expanding services, or strengthening community infrastructure, these grants reflect a deep commitment to reinvesting in the State.
Importantly, since its creation, CHEFA has never used taxpayer dollars to fund its operations. It is a self-sustaining entity, operating with disciplined financial stewardship and the highest ethical standards. CHEFA’s robust internal controls and oversight practices have consistently resulted in clean audits from independent auditors and the State Auditors of Public Accounts.
The small, but dedicated team at CHEFA remains focused on the future: continuing to innovate, expanding access to capital, and serving as a trusted partner to the nonprofit institutions that strengthen Connecticut.
Sincerely,
Dr. Peter Lisi
Chair, Board of Directors
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CHEFA Subsidiaries
The Connecticut Higher Education Supplemental Loan Authority (CHESLA) supports Connecticut students and helps to expand educational opportunities and develop the State’s workforce. CHESLA’s mission is to expand higher educational opportunities and enhance the State’s economic development through higher education by providing cost-effective education financing programs and information resources to Connecticut students, alumni, and their families. Learn More
A related subsidiary, the Connecticut Student Loan Foundation, is a Connecticut State chartered not-for-profit corporation and quasi-public agency that was established pursuant to Title IV of the Higher Education Act of 1965. CSLF is no longer making student loans but continues to administer its existing portfolio.
The CHEFA Community Development Corporation (CHEFA CDC) was created to provide financial assistance to nonprofits who are in and/or serve low-income communities.
CHEFA Community Development Corporation’s (“CHEFA CDC” of the “Corporation”) mission is to provide financial assistance by serving and/or providing investment capital to qualified nonprofit organizations in low-income communities located in the State of Connecticut.