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Student Loan Repayment Program

Lynn Said:

Can anybody give me some information regarding the student loan repayment program?

We Answered:

Check it out here. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.…

Duane Said:

what is the service obligation for the student loan repayment program in the army?

We Answered:

If you are currently in the military, wouldn't you qualify for the Post 9-11 benefits and the Yellow Ribbon program?

You are better off contacting your VA person to find out the particulars. Stick it out as long as possible because if you do get the 9-11 benefits your school is pretty much paid for. I understand they will give you a living allowance as well. Get some more details. That 4th year could make the difference between 60% of benefits and 100% benefits.

Marcus Said:

Is the Army the only military branch with a student loan repayment program type of help?

We Answered:

well the Army is the largest service, so mathematically, they are going to have the most for incentives and such. it seems the SLRP changes daily. like the civilian job market offering sign on bonuses or relocation assistance - a lot of these things are supply and demand my friend. truth be told, i would bet ALL services could STOP offering SLRP and maybe even tuition assitance tomorrow - and they'd still have the recruiting doors spinning. the economy is bad right now, and people are willing to make a little less (compared to civilian jobs) and do any job to get in the military right now and get that 'guaranteed' 4 to 6 year enlsitment contract, where if they do their jobs, do what they are told, they will pretty much ahve a job for 6 years and get a pay raise each year. how many civilian workers can say they will still have a job next year and will get a raise?

Heidi Said:

How do I find out if what mos's qualify for the student loan repayment program?

We Answered: - it provides some tips about applying to US federal and state grants for college students.

Hilda Said:

Student loan repayment program for the NG?

We Answered:

You must enlist for a qualifying MOS; these change frequently, only your recruiter can say if 68W is currently a qualifying MOS. The Guard will repay up to $20,000 in qualifying loans (this is the MAXIMUM for a 6 or 8 year enlistment, the amount varies by unit in the Guard and MOS).

The first payment is made after you have served for one year. That payment, made directly to the lender, will be 15% of the balance or $1,500 -- whichever is greater. The will continue to make the annual payments for the duration of your enlistment.

Two things to keep in mind: they will agree to pay off EXISTING debt (not interest and not debts accrues after you enlist -- hence, they will only pay for your freshman year), and the amount they pay is TAXABLE income, and you will have to pay the taxes on this income.

Annette Said:

Can you be eligible for the Army Student loan repayment program with a defaulted loan?

We Answered:

The most important tip that can be offered is to do the research on your own. Student financial aid offices are supposed to be there to help you. They should tell you the information you need to know, help you get a loan, etc. Unfortunately research into financial aid offices has shown that some college offices only provide certain student loans. The lenders may offer the financial aid office incentives in order to get more students signed up.

Several students in the past have found out too late that the loan they took out was not the "best" option as the financial aid offices touted. Not all offices do this, but you must be aware of it. This is why researching on your own as well as asking for help is the best thing you can do. You need to research the private lenders to determine who has the best repayment options and how their deferment plan may work.

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