Army College Student Loan Repayment Program 65K

I would like expert help and advise with this application

To Be Eligible …

Enlisting Active duty Soldiers are eligible for the Loan Repayment Program if they meet the following conditions:

  • Soldier must agree to a term of service of three years or more.
  • Soldier must decline enrollment in the Montgomery GI Bill in writing, using DD Form 2366.
  • Soldier must have LRP guaranteed in writing in the enlistment contract.
  • Soldier must be a non-prior service accession.
  • Soldier must have a high school diploma and a score of 50 or higher on the Armed Services Vocational Aptitude Battery (ASVAB).
  • Soldier must enlist in one of the critical MOSs that qualifies for the program (Local Army recruiters have the current list, which changes quarterly).
  • Loans must be made, insured, or guaranteed under the Higher Education Act, Title IV, Part B, D, or E or any loan incurred for educational purposes made by a lender that is  (a) an agency or instrumentality of a State; (b) a financial or credit institution (including an insurance company) that is subject to examination and supervision by an agency of the United States or any State; (c) from a pension fund or a non-profit private entity (subject to case-by-case review) and prior to entry on active duty.

Benefit Highlights:

The Army will repay 33 1/3 percent of the outstanding principal balance, less taxes of the Soldier’s student loans annually or $1,500, whichever is greater, after each year of service (up to $65,000, less taxes) up to three years total. Loans must not be in default before entering active duty, and during the repayment process.

Loans that qualify for repayment:

  1. Any loan made, insured, or guaranteed under the Federal Family Education Loan Program, part B of title IV of the Higher Education Act of 1965 (20 U.S.C. 1071 et seq.);
  2. Any loan made under the William D. Ford Federal Direct Loan Program, part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.);
  3. Any loan made under Federal Perkins Loans part E of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087aa et seq.); or
  4. Any loan incurred for educational purposes made by a lender that is –
    1. an agency or instrumentality of a State;
    2. a financial or credit institution (including an insurance company) that is subject to examination and supervision by an agency of the United States or any State; from a pension fund or a non-profit private entity (subject to case-by-case review)

Loans That Qualify

  • Stafford loans
  • Grad PLUS loans
  • Parent PLUS loans
  • Consolidation loans
  • Perkins loans
  • Supplemental Loans for Students (SLS)

Next Steps

Click here to apply for this forgiveness plan or contact an army recruiter.

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