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From what I've read the Navy/Army's max is $65,000 and the Air Force's is $10,000. Do they all work the same though? I mean, I've only read a little bit on the Navy's program and from what I gather, they'll dispense 33 1/3 or $1,500, whichever is greater, after each year of successful enlistment. I have over 30k in outstanding student loans right now, does it mean that if I were to serve 4 years in the Navy that my loans will basically be paid off in 3? I've talked to an Air Force recruiter about this and he recommended I just take the GI Bill, but he didn't know how much I had out on loans already. Any info you can give me on the loan repayment programs for any branch is appreciated.
It means they pay the loans in 3 years But they will not actualy make the first payment, till after your at your first duty station and do all the paper work required. IE: all your loans must be in one account, you will need a account number and transfer number from the bank or loan holder for the military to make payments too The military doesn't pay interest, so you must pay interest yourself and of course all your loans must be federal student loans, private student loans do not count
The "Fix It" component of the Affordable Care Act of 2009 shall we school pupils make DIRECT scholar loans from the Department of Education, as a consequence getting rid of prime-curiosity banks as middlemen. Maybe this may occasionally support you, in the event you determine out the main points at whitehouse.gov. Also determine with the school of your alternative, when you consider that it's of their curiosity to find investment assets to be able to develop their scholar numbers. And you've got a Nebraska consultant now that you're within the navy reserves, so the Veterans Administration maybe in a position to reply your entire questions or even exhibit you learn how to follow.
Generally yes but each Branch sets their own requirements as to what jobs qualify for it.. and currently.. that is not too many at all. as for the logistics: no it will not be paid off in 3 years( assuming you get a rating that qualifies for it) they pay PRINCIPAL only and it is taxable income..and interest still accrues and is your responsibility to pay. the first payment does not happen until you have successfully completed all training and you have reported to your first DUTY station.. and training can last a year or longer.