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Can the military pay off student loans?

The Loan Repayment Program (LRP) is a special incentive that the Army offers to highly qualified applicants entering the Army. Under the LRP, the Army will repay part of a Soldier's qualifying student loans.

Does the Navy help pay off student loans?

Navy student loan forgiveness For sailors to qualify, they must enlist in the delayed entry program as active duty and have an eligible rating. The Navy will pay 33.3% of your outstanding student loan balance or $1,500 \u2014 whichever is greater \u2014 for up to three years of service.

Will the Navy pay for school debt?

Who Qualifies for the Navy Program? The Navy Loan Repayment Program is designed to pay federally guaranteed student loans, up to $65,000, for Navy personnel who qualify. The program is offered to members of the service's Delayed Entry Program who eventually enlist in the Navy full time.

Will the Army pay back my student loans?

The Loan Repayment Program (LRP) is a special incentive that the Army offers to highly qualified applicants entering the Army. Under the LRP, the Army will repay part of a Soldier's qualifying student loans.

Does the military pay off student loans for officers?

The best-known is the military college loan repayment program (CLRP). That student loan repayment program is used as an enlistment incentive for those joining the military and is not available for commissioning officers.

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What is a dd2475 form?

DD Form 2475, "DOD EDUCATIONAL LOAN REPAYMENT PROGRAM (LRP) ANNUAL APPLICATION"

Are military members eligible for student loan forgiveness?

An estimated 176,906 active-duty service members have federal student loans that are already eligible for the Public Service Loan Forgiveness (PSLF) program, or that could be consolidated into eligible loans, according to a 2021 report from the U.S. Government Accountability Office.

Can Army officers get student loan repayment?

The Student Loan Repayment Program (SLRP) is available to Soldiers and officer candidates (09S) who have one or more qualifying and disbursed Title IV federal loan(s).

How does Slrp work?

The SLRP is an incentive given to individuals enlisting or re-enlisting in the Army or Army Reserve. In return for a three-year commitment, the military will repay up to $65,000 of your college loans. If the program isn't offered and accepted by you as a part of your contract, however, you can't add it on later.

Can the Navy pay off student loans?

If you meet requirements, the Navy will repay one-third of an approved Loan Repayment Program incentive amount or $1,500 on your first, second, and third year of active duty. In total, the Navy could repay your loans by up to $65,000.

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