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Begin with Section 1, Personnel Office Verification. This section must be completed by a designated personnel officer. Ensure they provide their name, signature, and date signed.
Move to Section 2, Servicemember Data. Fill in your name, address, social security number, telephone number, and email address. Enter the total of prior payments made under the Loan Repayment Program and sign and date this section.
In Section 3, Loan Data, provide details about your loan including the name on the loan, original date of promissory note, original loan amount, account number, and loan holder information.
Complete Section 4 for Lender Verification. The loan holder will need to confirm details such as whether the loan is in default and provide their tax identification number.
Finally, use Section 5 for any additional remarks that may assist in processing your application before submitting it as directed.
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Military enlistees, and some already enrolled members, can receive student loan repayment (LRP) assistance of up to $65,000 for a three- or six-year commitment. Federal student loans and even some private student loans may be forgiven. To qualify for the LRP programs, you cannot have previous military experience.
How much is the monthly payment on a $70,000 student loan?
The monthly payment on a $70,000 student loan ranges from $742 to $6,285, depending on the APR and how long the loan lasts. For example, if you take out a $70,000 student loan and pay it back in 10 years at an APR of 5%, your monthly payment will be $742.
What is dd2475?
DD Form 2475, DOD EDUCATIONAL LOAN REPAYMENT PROGRAM (LRP) ANNUAL APPLICATION
Will the military pay off my student loan debt?
To qualify for loan repayment Prior service and in-service personnel must enlist, reenlist or extend for three or more years. Non-prior service applicants must enlist with an initial assignment to a Troop Program Unit for at least six years of their initial eight-year military service obligation.
What is a DD2875 used for?
The DD2875 is required when a system is not in the DLA Account Management and Provisioning System (AMPS) and when access to external DOD systems is required. 1) The latest version of the DD2875 can be found here. 2) The latest version of the Consent to Monitor, Privileged Rules of Behavior can be found here.
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People also ask
Who is excluded from student loan forgiveness?
The program is open to government workers, including teachers, firefighters and employees of public hospitals, along with nonprofits that focus on certain areas. The new proposal would exclude employees of any organization tied to an activity deemed illegal.
Related links
STUDENT LOAN REPAYMENT PROGRAM
To complete the form: 1. Use the blank DD2475(Jan 2012) that was provided with these instructions. 2. In section 1.a. write your units address. Your unit
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