Lori Meadows
Joining the armed forces is a big decision that can impact your financial situation. Luckily, there are several student loan repayment programs available for those who choose to serve in the military. The Army, for instance, offers the Student Loan Repayment Program (LRP) for certain Military Occupational Specialties (MOS), providing up to $65,000 in loan assistance for federal student loans. Similarly, the Air Force has the College Loan Repayment Program (CLRP), which offers up to $10,000 in loan repayment assistance to those with past student loan debt. Joining the military may also make you eligible for loan deferment, forbearance, interest rate reductions, and other forms of student loan relief during your active-duty service.
| Characteristics | Values |
|---|---|
| Army Student Loan Repayment | Up to $65,000 for federal student loans |
| Requires a 6-year commitment | |
| Only for specified Military Occupational Specialties (MOSs) | |
| Air Force College Loan Repayment Program (CLRP) | Available to any person enlisting with past student loan debt |
| Up to $10,000 in yearly payments of 33.33% of the debt or $1,500 (whichever is higher) | |
| Air Force Judge Advocate General's (JAG) Corps | Up to $65,000 in student loan repayment assistance |
| Payments are made over a three-year period after the first year of service | |
| Public Service Loan Forgiveness | For active-duty military service and/or another public service position for a total of 10 years |
| Forgives all student loan debt after 120 qualifying payments | |
| National Guard | Up to $50,000 in military loan forgiveness |
| Requires a minimum six-year term of service | |
| Navy | Up to $40,000 per year in student loan repayment assistance |
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What You'll Learn
The Army Student Loan Repayment Program
The US Army offers a Loan Repayment Program (LRP) to highly qualified applicants entering the Army. The program is a special incentive that repays up to $65,000 of a soldier's qualifying student loans. However, only specified Military Occupational Specialties (MOSs) qualify for the LRP. The program requires a 5 or 6-year commitment, and only applies to certain federal loans. Private loans are not eligible for the program.
The Army also offers other benefits to help soldiers with their education and training. The Montgomery GI Bill (MGIB) provides up to 36 months of education benefits to eligible service members and veterans for various programs, including college, business, technical, or vocational school, apprenticeship, on-the-job training, and flight training. The Army Reserve Officers' Training Corps (ROTC) offers scholarships that help cover the cost of tuition and school supplies for those working towards becoming commissioned Army Officers. The Green to Gold program helps cover school costs for active-duty soldiers pursuing a bachelor's or graduate program while earning a commission as an Officer.
Additionally, the Federal Perkins Loan Cancellation Program allows eligible soldiers to cancel up to 100% of their Federal Perkins Loans or National Direct Student Loans. The National Defense Student Loan Discharge program offers eligible soldiers who have served in hostile-fire or imminent-danger locations the chance to qualify for up to a 50% cancellation of their loans.
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Loan deferment, forbearance, cancellation, suspension of interest accrual
The US Army offers a Student Loan Repayment Program (SLRP) or Loan Repayment Program (LRP) that can help pay off student loans. However, this is only available for certain Military Occupational Specialties (MOSs) and certain types of federal loans. The program also requires a minimum commitment of 5 or 6 years. Under the LRP, the Army will repay part of a soldier's qualifying student loans, up to a maximum of $65,000.
During active-duty military service, individuals may also qualify for loan deferment, forbearance, cancellation, suspension of interest accrual, or other relief on federal student loans. The availability of these options depends on the nature of your service and the type of loan you have.
If you require assistance with your SCRA rights, you can contact your closest legal assistance (JAG) office. For help with applying to the PSLF program, you can use the PSLF Help Tool or seek guidance from a personal financial counselor.
Additionally, the Montgomery GI Bill (MGIB) offers up to 36 months of education benefits for eligible service members and veterans. These benefits can be used for various educational programs, including college, vocational school, apprenticeship, and certain training courses.
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Air Force Judge Advocate General's (JAG) Corps
The Air Force Judge Advocate Generals (JAG) Corps is a government law organization that defends the Army and its Soldiers in all military legal matters. It is one of the country's largest law firms, and JAGs provide important legal advice to senior Army officials. As a new Judge Advocate, you will gain litigation experience as trial counsel (prosecutor) in court-martial cases. At some bases, JAGs work with the Department of Justice to prosecute civilians who commit offenses on federal lands in federal court.
Before becoming a JAG, you must first become an officer by completing Officer Training School (OTS). OTS is an approximately eight-week training program at Maxwell AFB in Montgomery, Alabama. It is designed to challenge you mentally and physically, developing you into an officer and a leader. After completing OTS, you will begin the Judge Advocate Staff Officer Course (JASOC), also at Maxwell AFB. This is a nine-week course where you will be trained in Air Force legal practice, including military justice, trial advocacy, and international and operations law.
The Air Force JAG Corps does not offer scholarships to pay for law school. However, the Air Force offers the Funded Legal Education Program (FLEP) to officers and enlisted members on active duty. Under FLEP, commissioned officers and enlisted members can apply to attend law school through the Air Force's funding.
The Air Force JAG Corps also offers a Student Loan Repayment Program (SLRP) to highly qualified officers serving in the AFJAGC who demonstrate a high caliber of professionalism and leadership experience. Under this program, the Air Force will repay up to $65,000 of a service member's qualifying student debt. Payments will be made over a three-year period after the first year of service as a JAG officer.
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Public Service Loan Forgiveness
The US Department of Education offers a Public Service Loan Forgiveness (PSLF) program that encourages individuals to pursue careers in public service. The program forgives the federal student loan balances of eligible borrowers who have made at least 10 years of payments while working in certain public service jobs. This includes service members and civilian employees of the Department of Defense (DoD).
As of January 2020, 287 DoD borrowers received loan forgiveness under the PSLF program, while 5,180 (or 94%) were denied. The most common reasons for denial were not enough qualifying payments and missing information on the form. The PSLF program has been in place since 2007, but it appears that many potential applicants are unaware of the eligibility requirements.
The PSLF program is not the only option for those in the military seeking to repay their student loans. The Army offers a Student Loan Repayment Program (LRP or SLRP) for certain Military Occupational Specialties (MOSs) that can repay up to $65,000 of federal student loans. However, this program typically requires a 5-6 year commitment.
It is important to carefully consider the terms and conditions of any loan repayment program and seek official information from the relevant government departments.
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Navy loan repayment assistance
The US military can help service members pay off their student loans. The Navy, for instance, offers a military student loan repayment program called the Navy Loan Repayment Program (LRP). This program provides up to $65,000 in federal student loan repayment assistance to Navy service members who are enlisting or reenlisting for active duty. The Navy will pay 33.3% of a service member's outstanding loan balance or $1,500 a year, whichever amount is larger, for each year of service, up to three years.
The Navy Loan Repayment Program is available to those enlisting or reenlisting for active duty. To be eligible for the student loan repayment program, you must sign up for an original (first) active-duty enlistment of at least three years with a qualifying specialty, or contract as an officer candidate. If enlisting in the National Guard, you must enlist for at least six years. Additionally, you must have a qualifying ASVAB score and a student loan that is not in default. The loan must have been made prior to entry on active duty, and only certain loans qualify.
The Navy Loan Repayment Program can be a great benefit for those looking to join the Navy and needing assistance with student loan repayment. However, it is important to note that the program has specific requirements and limitations, and it is always recommended to carefully review the terms and conditions before making any decisions.
It is worth noting that the Army also offers a similar Loan Repayment Program for highly qualified applicants. This program also provides up to $65,000 in student loan repayment assistance, but it is only available for specified Military Occupational Specialties (MOSs). Additionally, the current regulations specify that individuals cannot receive the GI Bill if they sign up for the Student Loan Repayment Program.
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Frequently asked questions
The Army, Navy, and Air Force all have student loan repayment programs. The Army offers up to $65,000 in loan assistance for federal student loans, while the Air Force offers up to $10,000. The Navy provides up to $40,000 a year in student loan repayment assistance.
To qualify for Army student loan repayment, you must enlist for at least three years and score 50 or higher on the Armed Services Vocational Aptitude Battery (ASVAB).
Yes, the Air Force College Loan Repayment Program (CLRP) is available to anyone enlisting with past student loan debt. It provides up to $10,000 in yearly payments of 33.33% of the debt or $1,500, whichever is higher.
Yes, there are student loan forgiveness programs available for veterans through the U.S. Army and National Guard. The Public Service Loan Forgiveness program also applies to those who have served in the military for a total of 10 years.
Yes, active-duty members of the military may be eligible for loan deferment, forbearance, cancellation, suspension of interest accrual, or other relief on federal student loans. Additionally, they may be able to lower the interest rate on their student loans to 6%.
