Announcement

Announcement Module
Collapse
No announcement yet.

SLRP Question

Page Title Module
Move Remove Collapse
X
Conversation Detail Module
Collapse
  • Filter
  • Time
  • Show
Clear All
new posts

  • SLRP Question

    I am enlisting into an MOS that has the SLRP benefit option. I currently have $43K in student loans but will end up having closer to $50K when my next loan processes in a few months.

    Here is my question, If I enlist tomorrow with the $43K for SLRP in my contract can it be adjusted to reflect the next loan that is being processed? I plan on shipping out in April and by then the other loan would of processed and be posted.

    I appreciate any insight regarding this.

  • #2
    Re: SLRP Question

    Originally posted by SierraBravo View Post
    I am enlisting into an MOS that has the SLRP benefit option. I currently have $43K in student loans but will end up having closer to $50K when my next loan processes in a few months.

    Here is my question, If I enlist tomorrow with the $43K for SLRP in my contract can it be adjusted to reflect the next loan that is being processed? I plan on shipping out in April and by then the other loan would of processed and be posted.

    I appreciate any insight regarding this.
    The quick answer to your question is that all loans must be at a minimum 1 years old in order to qualify. . Here's a good summary of how the SLRP works.

    Comment


    • #3
      Re: SLRP Question

      ^^ That being said. 1 of my loans that WAS NOT 12 months old was paid for through SLRP. Don't know how, dont know why, and did not bring it to anyones attention until AFTER I signed everything and put it in ink..but (this is just my unprofessional opinion) that you MIGHT be able to get that last loan squeezed in.. again, just my experience.

      Comment


      • #4
        Re: SLRP Question

        Originally posted by Nodoz View Post
        ^^ That being said. 1 of my loans that WAS NOT 12 months old was paid for through SLRP. Don't know how, dont know why, and did not bring it to anyones attention until AFTER I signed everything and put it in ink..but (this is just my unprofessional opinion) that you MIGHT be able to get that last loan squeezed in.. again, just my experience.
        At the same time, you don't want to be surprised a year later, on your anniversary, when that loan does not get paid along with the rest. It's best to get clarification before blindly assuming it's going to get paid.

        Comment


        • #5
          Re: SLRP Question

          Update - I swore in and signed my contract. I had 3 loans there were not over 12 months yet, however they are included in my repayment form (Annex L to DD Form 4). In fact, let me quote this paragraph from the document;

          "I understand that only those loans that have been disbursed prior to my date of enlistment are eligible for repayment under this contractual period. Loans disbursed after my date of enlistment are not eligible for repayment unless I reenlist/extend for a period not less than 6 years in the ARNG one I have reached my new extension/reenlistment eligibility window."

          The parts in bold are bold on my SLRP agreement form and they aren't spaced exactly as the rest of the document leading me to believe this was a recent change in the form.

          Edit - to add I found this bit under Section III - SLRP Payment

          "Loan(s) must be one year or older on anniversary date in order to be eligible for repayment."

          When I read the whole document it began to make sense. Basically the SLRP payments are paid on your enlistment anniversary date. So I enlisted on 20130117 so my first repayment will be on 20140117, by then the loan that is being paid must be at least one year old.

          tl;dr : A student loan less than 12 months aged can still be included for repayment in your SLRP contract at enlistment, baring it meets all other guidelines for repayment, but the loan must be aged at least 12 months before your anniversary date when the payment is processed.
          Last edited by SierraBravo; January 18th, 2013, 05:23 PM. Reason: added Section III info

          Comment


          • #6
            Re: SLRP Question

            Great! Sounds like it all worked out for you. Enjoy your training.

            Comment

            Working...
            X