I have a question about federal student loan limits for undergrads.?
that's tough. my suggestion is to attend a JC for two years, kick butt and transfer in to a real school. that will reduce your borrowing time from 4 years to 2 years. stafford and perkins loans are the best. but if they have caps on them, there are private loans available thru sallie mae. from what i remember, stafford loans are maxed at $18,500 per year, with $10k of it unsubsidized. when i went to LMU for my undergrad and USC for my mba, i had to take out both loans. so it is possible to finance your entire education. you just have to make sure that you will make enough money with your degree to make the monthly payments. here's a quick and dirty rule of thumb: provided that you don't have massive debts (credit cards, car loans, etc) your annual salary should be at least the amount you owe on student loans. so if you want to finance $40k for your education, you better make sure you earn more than $40k per year in your job out of school.
Student Loan Repayment for commissioning officers?
Unless the policy has recently changed, no, officers are not eligible for student loan repayment via the ANG or on active duty. That said, there is a student loan forgiveness program that applies to either the Stafford Loan program or the Perkins Loan Program (seems like it is the Perkins Loan, but no longer sure). One of these is a carry over the old National Defense Student Loan program. For every year of ACTIVE duty, you can get 12.5% of our student loan forgiven, but you have to apply for it via the student loan office that handled your application and made payment to you. You can do this for up to 50% of the student loan. Keep in mind that it only applies to a full year of active duty and especially if all or part was in a combat zone. I took advantage of the forgiveness program many years ago when I had a student loan via the National Defense Loan Program. I was able to get 50% of my loan forgiven after a total of 4 years active duty - I was an active duty officer, but would have applied to enlisted as well (there was no military program for loan forgiveness at that time). If you become a school teacher, you can do the same (pretty sure this is the Stafford Loan) for being a full time teacher in a public school system. Again, visit your Student Loan office for the details. Lieutenant Colonel, US Marine Corps-Retired PS: ANG brother (SSG) returned from Iraq last year. We thought he would get at least 12.5% of his student loan forgiven, but discovered that he had the wrong loan category. Shouldn't have made a difference, but the way Congress wrote the law, he was not qualified no matter how many bullets were shot at him!
Do police officers get help with student loans?
do police officers have some sort of student loan repayment plan of some sort, or am i going to have to drown in debt untill im 35. im terrified of debt because of how my mother has dealt with hers, she complains about it, then goes out and buys a $1000 dollar purse, im afraid im going to somehow turn into that. i wanted to enter the military go to college and be a police officer, debt free, and completely responsible
Do commissioned officers receive a officer bonus or a student loan repayment program on commissioning?
I commission as a 2LT in December in the Army national guard. I am wondering if its possible for the state to pay for some of my student loans that are from wells fargo but in the "Student Loan" account, so its not a regular loan. Also, I was wondering if they are still handing out officer bonus's upon commissioning? Im from Nebraska. THanks!
Army ROTC Student Loan Repayment Program question?
Can someone explain to me how to the Student Loan Repayment Program works for Army ROTC cadets. I am currently a MSIII. I currently got $6,000 worth of student loans. Before I graduate I calculate $12,000-$13,000 in total. I plan on going active once I graduate (I am a nursing cadet, so I automatically get active). I am just want to know how the program works. Will I have to pay any of my student loans back. I know the army will divide my total by 3 and pay 1/3 of the total amount on my anniversary, but will I have to make payments until the army starts paying or do I send something to my loan provider saying the army agrees to pay. I would go to the HR but she's a quack that doesn't know what she's talking about. She's always messing up someones paperwork. Will it effect any chances of me getting a bonus? Any information you can give me and the program will be greatly appreciated. I don't have anyone at my ROTC program to ask.
Can Army Officers use the Student Loan repayment program?
You should be able to if you go through OCS, but make damn sure you see it in your contract before you sign.