Are you stuck with student loan debt? The military has special enlisting incentives for paying off student debt.
Military Service:The Student Loan Repayment Program(SLRP). Under the Student Loan Repayment Program, when you enlist theArmywill pay backup to$65,000 in qualified education loans, theNavyup to $65,000 and theCoast Guardup to$10,000 (per year for 6 years for repayment of student debt). ...
The military services offer the Student Loan Repayment Program as an incentive to many service members when they enlist or re-enlist. It can be difficult to take advantage of the program, however, because of the extensive paperwork and the eligibility requirements. But you can get the funds to...
Military personnel also have access to various deferments and simplified documentation processes, enhancing their ability to manage loan obligations while serving. The Department of Education hasan excellent summary of the various military forgiveness programs and loan repayment privileges. ...
Military student loan forgiveness –Military personnel in the Army, Navy, Air Force, National Guard, and Coast Guard may qualify for their own loan forgiveness programs.12You can find more information onMy Army Benefits. You may also be able to access legal guidance at yourlocal Judge Advocate...
Choosing to serve your country can be a big boost in student loan repayment. For starters, numerous student loan forgiveness programs exist specifically for the military, such as theMilitary College Loan Repayment Program. In the realm of interest rates, enlisting has immediate benefits as well. ...
Getting laid off from a job that makes you eligible for a loan forgiveness program can prolong your path to student loan forgiveness. 12) Join the military If you join the military with student loan debt, you may be able to pay it off using the GI Bill or another form of relief, suc...
Navy Federal is the largest credit union in the world and specializes in banking and financial services for members of the military. Students with any type of student loan with Navy Federal are eligible to use the Career Assistance Program, an online job training tool that provides tips on inte...
Private Student Loan Deferment To defer a private student loan, you’ll need to contact yourlenderdirectly. Many offer some form of deferment or relief if you are enrolled in school, serving in the military, or unemployed. Some also provide deferment for economic hardship.1 ...
Federalstudent loan defermentis usually connected to a specific event. For example, you can usually get a deferment if you are enrolled in school at least part-time, unemployed, or serving in the military. When you meet the requirements, your student loan servicer must grant you the deferment...