Announcement Announcement Module
Collapse
No announcement yet.
Current SLRP question Page Title Module
Move Remove Collapse
X
Conversation Detail Module
Collapse
  • Filter
  • Time
  • Show
Clear All
new posts

  • Current SLRP question

    I have slrp in my contract. When I enlisted, I had 20.5 k in loans so in my contract, I was offered 20k slrp at 15% per year no more than 3k per year. By the time the guard made the first payment i owed about 18.5 k. My first two yearly payments from the guard were 3k each. On my 3rd payment I received $1800 dollars. I thought I would receive 3k per year for my 6 year enlistment so I'm thinking something is wrong. I called the state education office and he told me that 15% is based on the current principal and not the principal when I enlisted. If this was the case why did I receive 3k for the first 2 payments. I feel like someone is doing me wrong and at this rate, the guard will pay less and less each year and they won't come close to paying off the loan. Does this sound correct?

  • #2
    Re: Current SLRP question

    I've made your post it's own thread to give you the opportunity to get more relevant answers.

    Comment


    • #3
      Re: Current SLRP question

      Originally posted by Spurred View Post
      I have slrp in my contract. When I enlisted, I had 20.5 k in loans so in my contract, I was offered 20k slrp at 15% per year no more than 3k per year. By the time the guard made the first payment i owed about 18.5 k. My first two yearly payments from the guard were 3k each. On my 3rd payment I received $1800 dollars. I thought I would receive 3k per year for my 6 year enlistment so I'm thinking something is wrong. I called the state education office and he told me that 15% is based on the current principal and not the principal when I enlisted. If this was the case why did I receive 3k for the first 2 payments. I feel like someone is doing me wrong and at this rate, the guard will pay less and less each year and they won't come close to paying off the loan. Does this sound correct?
      When they said current principle, were they referring to the 18.5 K you owed when they started payment?

      Comment

      Working...
      X