EP 3: ARMY RESERVE STUDENT LOAN REPAYMENT PROGRAM
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- Опубликовано: 1 янв 2024
- The Army Reserve Student Loan Repayment Program, also known as the Student Loan Repayment Program (SLRP), is a special incentive offered by the Army to highly qualified applicants entering the Army or continuing to stay in the Army or Army Reserve. The main purpose of this program is to repay a portion or all of the Soldier's qualifying student loans. This program is not available to all soldiers, but only to those who have specific Military Occupational Specialties (MOSs).
The SLRP is a significant benefit for Soldiers who have incurred student loan debt or plan on doing so. It provides financial relief by repaying part of their student loans each year, thereby reducing the financial burden of higher education. This makes the Army Reserve an attractive option for individuals seeking to serve their country while also receiving assistance in managing their educational expenses. Contact your Career Counselor for specific examples and requirements.
To be eligible for the SLRP, soldiers must enlist or reenlist in the Army Reserve for a period of six years. The program offers up to $50,000 for selected specialties to repay college loans. However, it's important to note that not all student loans qualify for this program. For specific information about Student Loan Repayment Options, Soldiers are advised to visit with their assigned Career Counselor.
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That was excellent information... Thank you!!!
Glad it was helpful!
I appreciate your video
Which part?
Thank you MSG I didn’t wanna read the paperwork 😭😂
Please always read the paperwork!
I signed up for it but never read my contract 😂
@@princearthur5532 OPE
Great info! Can I keep my SLRP if I become an officer? (Currently Enlisted E4) or do I have to use the SLRP during my enlisted contract?
Yes you do! You get to keep your SLRP for as long as your either in the Reserve or Active. Enjoy it!
Hi! Thank you for the video it cleared up a lot of questions, but I still have one I’m currently in the process of joining the army and am going to go active duty, I have my bachelors degree but was wondering, what is the contract length I have to do to get the full amount of the SLRP?
Great question. On the active side, I don't quite know because I haven't been a recruiter in a long time. On the Reserve side, it's typically 6 years. Again, your recruiter is going to have the most up to date information. Welcome to the team!
I read that if you get this, you don’t get the GI-Bill, is this true?
Absolutely false. You can get both.
Thanks for this. I hope i knew this before. For years, i try to get this, i didn't get help from my unit. I am in my 2 years IRR, is there still a way to get this? Or if i sign another contract can i still use it?
I have some GOOD NEWS for you! Can you email me? gary.a.roth2.mil@army.mil
My recruiter is saying I have to choose between a cash bonus and SLRP? Is that correct?
Everything I've read says that SLRP is a trade for Montgomery GI Bill, and should have nothing to do with cash bonus.
My bonus is 50k and I have 40k in loans, so losing either is kind of a big deal.
I do believe there are trade-offs. You can't have it all. Gratitude is powerful fuel. Get what you can, execute and move out!
MSG Roth, what happens to the SLRP benefit if a USAR recruit who enlisted with SLRP in his/her agreement contracts with Army ROTC to seek a commission?
If the Soldier completed Basic and AIT successfully, they would keep it. However, they would not be eligible for any SLRP on the Officer side, should it be issued. SLRP is a "once in a career" benefit, so it's always wise to grab it!
MSG the Army pays 15% annually, but if I have multiple student loans, will they pay 15% annually on all of them, or only on one of them?
They will pay 15% of your total loan debt. I don't know how exactly, but I do know it's applied to the total.
There is no way for me to get this going while I'm at AIT? I have to wait until I get to my unit?
That is correct. You need to be MOS qualified. But....do it first thing when you get there. Remember, you must submit for it EVERY YEAR!
If I get a federal loan with myself and spouse name of it, but she is the one attending, does that count?
If the student loan benefited YOUR education, the Reserve will pay it. If not, it won't.
can I take out a student loan and use it to help me pay for housing while going to school? I'm starting nursing school and its going to be hard to work and pay for housing
Every student loan is different, but most of them send money directly to the school. So if it's on campus, I would likely say yes.
Thanks! For the video. I have Bachelor try to enlist, i scored less than 50. But my recruiter said im eligible. I don't understand because on the paper, the bonus amount shows. For SLRP50 is equal to zero.
That's correct, you cannot get the SLRP without a 50 or above on the ASVAB. I would encourage you to re-take the test and improve your score!
Okay, I will try to do that. I don't understand why they keep saying it is part of it. Which is not. I really appreciate it. Thank you so much!
@@soumkabore9613 Of course.
Would it be possible to start the loan repayment program while in college?
Yes, you certainly can. However, your loans must be one year old. It's important to read your SLRP documents closely.