Question : Can you explain student loan repayment benefits in the Army?
I have a lot of student loans from college and grad school. I have seen ads for student loan repayment upon joining the Army Reserve. Are these only for enlisted or officer, too? Any other details would be helpful. I'm also interested in any student loan repayment in other branches.
- asked by Kimpossible888
All Answers:
Answer #1
the military is not a good idea if you want to getto college money ure better off in the civilianworld... military is not about getting you tocollege money it is about serving tho they willtell you they can but really no i dont think youshould do that youll be in iraq and also id sayyou should get a summer job dont join the army forthat reason... studant loans are not really thatgreat just get a part time or summer job and workit off... the military will pay you some but notnearly enough needed for college... that part ofthe military is not really a reson to joing youcan make more money at another job and if you dojoin the army youll probably be deployed since itswar time... if you do join be and officer
- answered by john
Answer #2
Student Loan Repayment: The following are thetypes of loans they repay: Auxiliary LoanAssistance for Students (ALAS) • StaffordStudent Loan or Guaranteed Student Loan (GSL) •Parent Loans for Undergraduate Students (PLUSLoans) • Federally Insured Student Loans (FISL)• Perkins Loan or National Direct Student Loan(NDSL) • Supplemental Loans for Students(SLS)None of these can be in default at the time. In the Reserves they only pay up to $1500 a yearor a total of $10,000 over 6 years. There arecertain jobs you can qualify for $3000 a month ora total of up to $20,000.On the other hand, if youjoin the active Army for four years and youqualify they will repay up to $65,000 in studentloans. This is paid after your second third and4th year.As far as I know no other branches haveloan repayment.
- answered by mar036
Answer #3
Repayment of Student Loans was started by the Armyas an enlistment enticement. "If you are enrolledin this program, you earn 33 1/3 percent or $1,500(whichever is greater) toward the remainingoriginal unpaid principal on all qualifying loansfor each successfully completed year of enlistedactive duty."Hope this helps!
- answered by flying_eagle
Answer #4
I would sure hope that you're not joining themilitary solely to get your loans repaid. I wouldhope that the main reason is to serve yourcountry.If you have a graduate degree, you willprobably be much better off as a civilian. However, I don't want to discourage you fromserving your country. Good luck.
- answered by hannibal61577
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