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School Loans Question

G

GS-W

AH-1 W
1) When can the military pay for my student loans? Do I have to be commissioned first? Can They pick them up earlier if I sign a contract?

2) Will they pay off my "student loans" AND the "parent loans" that my parents had to take out for the remainder of my tuition? Most of the "bulk" is in the parent loans, and they are already accruing, unlike the student loans which begin accruing post graduation.

3) Will run all this by my OSO but wouldn't hurt to get some info now so I have the correct info to start with...
 
MIDNJAC

MIDNJAC

is clara ship
pilot
I'm not familiar with any commissioning programs that pay off prior loans. You could do BDCP and use the extra money to start paying your loans off, but that's the only method that I am aware of to do this.
 
Swanee

Swanee

Cereal Killer
pilot
None
Contributor
Garrett P said:
1) When can the military pay for my student loans? Do I have to be commissioned first? Can They pick them up earlier if I sign a contract?

2) Will they pay off my "student loans" AND the "parent loans" that my parents had to take out for the remainder of my tuition? Most of the "bulk" is in the parent loans, and they are already accruing, unlike the student loans which begin accruing post graduation.

3) Will run all this by my OSO but wouldn't hurt to get some info now so I have the correct info to start with...
Click to expand...

There was a program called the College Loan Repayment Program for the Marine Corps. Not sure if it is still active. They started off paying 100% of the loans that you took out, paying 1/3 of the loan off per year for 3 years. In 2009 they put a cap on it at $30k. Not sure if it still exists, as it was a intended to get more officers when the Corps needed them during the bulk up to 203,000. Your Parent's loans are your parent's, not yours, so the Government probably won't care about them/pay them off. These are all questions your OSO will know.
 
J

jasongreen

New Member
I asked my recruiter the same question when I was going through the process. The Marine Corps use to pay back $30,000 for student loans, but they stopped it as of May 2009. The reasoning behind it is that because of the economic down turn they are not having that much trouble bringing in officers. The only way you can get it is if you go Marine Corps Reserves. It's a bummer
 
G

GS-W

AH-1 W
Yea, my OSO today, said they can only reduce your student loans if they are high, and make them acceptable according to your base salary. So it is a reduction, but not much considering my debt...
 
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