bikesnotscott
 Basic Member
 Posts:228

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23 Jan 2011 07:00 PM |
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I heard this from a source and wanted to question the validity of the statement. I was told that the Government could forgive portions (or all) of federal student loans if you enlist in the military.
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chukles Trusted Member / Administrator
 Moderator
 Posts:2907

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23 Jan 2011 07:12 PM |
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Not that I have heard. There are specific instances during the recruiting phase with the DOD services where they may pay a portion as an enlistment incentive. The Coast Guard does not repay student loans. A Google search shows a lot of information concerning the question. |
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I, for one, welcome our new insect overlords. I'd like to remind them that as a trusted Coastie, I can be helpful in rounding up others to toil in their underground sugar caves. |
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Eoghan Roe
 Advanced Member
 Posts:547

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24 Jan 2011 06:47 AM |
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I heard that they used to do it, but with the economy and such they've suspended this and most enlistment bonuses too. |
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big_dumb_monkey
 Basic Member
 Posts:223

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29 Jun 2012 06:47 PM |
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It is an old thread, but I thought I'd bump it. From - http://www.finaid.org/loans/forgiveness.phtml/ Military Students who are in the Army National Guard may be eligible for their Student Loan Repayment Program, which offers up to $10,000. (Note, the military and veterans' associations provide many scholarships and tuition assistance programs. See the section on Military Aid for details.) |
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gdeyarmond
 Basic Member
 Posts:202

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02 Jul 2012 08:43 AM |
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Not in the USCG. Some federal jobs will do it after so many years of being employed. I know the Navy was more than happy to have me sign over my GI bill to pay off my loans and the Army was just going to do it and then some. This was in late 2010 early 2011. Not sure what is available now. You can defer a lot of your loans until you rank up and start making more money. |
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ebee
 Advanced Member
 Posts:942

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14 Jul 2012 09:26 AM |
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Anyone in the military or some other public service job should be taking advantage of the public service loan forgiveness program which includes in income-based repayment. Basically, as long as you work in a public service job (government or nonprofit) your monthly payments can be calculated based on your income. Once you make 120 straight payments (10 years), the remaining balance of your loan can be forgiven. Even if you don't care about forgiving the loan, the income-based repayments can be a HUGE help, especially for new graduates. Here is the link: http://studentaid.ed.gov/PORTALSWeb...PSF.jsp#Q1 |
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MasterGuns2077
 Basic Member
 Posts:425

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21 Jul 2012 11:15 PM |
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definitely gonna be reading up on that, thanks for the link |
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Your passion for what you do will set you free. |
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Bells Trusted Member
 Veteran Member
 Posts:3469

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22 Jul 2012 12:06 AM |
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One of my friends just told me that her government students loans were just cut in half because of a new bill that was passed, and that it was based on her income... But it wasnt a 10 year thing it just was literally lowered and she has a year to pay it and then shes done. |
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Take what you like and leave the rest behind. |
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Gears Trusted Member
 Moderator
 Posts:6880

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23 Jul 2012 12:41 PM |
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Bells, Can you post a link? |
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“I’m not in this world to live up to your expectations and you’re not in this world to live up to mine.”
― Bruce Lee |
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MasterGuns2077
 Basic Member
 Posts:425

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12 Aug 2012 08:21 AM |
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whoa, if that's true then that's pretty awesome for me, over half my loans are federal... are there forms to fill out or something? Feel like our ESO should be up to date on this stuff |
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Your passion for what you do will set you free. |
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Cooch Trusted Member
 Moderator
 Posts:5304

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12 Aug 2012 02:54 PM |
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It's not really an ESO issue. The ESO's job is to help you further your CG and non-CG education, not so much to help you pay for previously attained education. |
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You can meet the standard, or you can set the standard. It's your choice. |
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MasterGuns2077
 Basic Member
 Posts:425

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15 Aug 2012 07:54 AM |
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good point Cooch. I'm looking at getting my payments reduced but I really don't want to wind up paying more in the long run. If there is a forgiveness program available or in the pipeline, it'd be well worth taking advantage of for those of us who have over half their loans through the feds. |
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Your passion for what you do will set you free. |
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magmam
 Advanced Member
 Posts:651

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15 Aug 2012 08:44 AM |
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did anyone ever find out if such a program exists? Maybe Bells? |
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ebee
 Advanced Member
 Posts:942

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