GI Bill and Military Education

STUDENT LOAN REPAYMENT
Uncle Sam Wants to Help Repay Your Student Loans

Under the Student Loan Repayment Program, when you enlist, the Army will pay back up to $65,000 in qualified education loans (up to $20,000 for Reservists), the Navy up to $65,000 and the Air Force up to $10,000.

Each year 15% of the loan balance or $500, whichever is greater, will be repaid by SLRP.

There may also be annual and cumulative caps on the amount repaid. Participants must score 50 or higher on the Armed Forces Qualifications Test (AFQT). SLRP must be requested at the time of enlistment or reenlistment.

The Army's College Loan Repayment Program allows you to pay off your federally insured student loans when you enlist in the Army in a qualifying job. To be eligible, you must enlist for three years on Active Duty or six years in the Army Reserve. For Active Duty Soldiers, you can receive up to $65,000 to repay your college loans. For Army Reserve Soldiers, you can receive up to $20,000 to repay your college loans.

The following loans qualify for the Army's loan repayment program:

• Auxiliary Loan Assistance for Students (ALAS)
• Stafford Student Loan
• Parents Loans for Undergraduate Students (PLUS)
• Consolidated Loan Program
• Federally Insured Student Loans (FISL)
• Perkins Loan, formerly known as the National Direct Student Loan (NDSL)
• Supplemental Loans for Students (SLS)

So perhaps you chose education first and active duty later. No problem - the military still wants to serve you and help you repay your student loans. That's a great deal of support, from the military. All you need to do is apply for your benefits.