Announcement

Announcement Module
Collapse
No announcement yet.

Student Loan Repayment

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

  • #16
    Re: Student Loan Repayment

    Thanks all for clarifying this to me. Also does the SLRP has to state in the contract that Iím eligible or thatís automatic through GI bill select. My recruiter asked me the copy of my federal student aid summary that he will make sure that itís fully paid before I go to my training I didnít sign any type of paper works or forms regarding SLRP process and thatís why Iím little confuse of how SLRP works. Any entail on this??

    Comment


    • #17
      Re: Student Loan Repayment

      Originally posted by MichaelPC View Post
      I go my information right from the VA's website

      http://www.gibill.va.gov/resources/b...ates100110.htm

      Half time is 167.00
      Less then half time is 84.25 a month.
      Sorry fellas, I didn't read the whole thread. My information pertains to the Chapter 30 and 33 GI Bill, which dependant upon what you do once you are in the guard, you may qualify for one day (CH 33 anyways). You are correct about the Chapter 1606.

      My advice to any newcomers wishing to use the GI Bill.....PAY ATTENTION this is good info.

      You can use 36 months of any one type of GI BILL....however, if you qualify for more than two chapters you can use a total of 48 months of benefits combining the two types...36 of one, and 12 of another. (example, I am in the guard like you all so I qualify for the 1606, which we are discussing, but since I deployed I also qualify for the Chapter 33 as well). ......

      The reason this is relevant is the Chapter 33 GI Bill is FAR more lucrative then the reserve 1606 stuff. If you are joining and want to deploy, or know your unit is leaving soon, or you take classes online while you are deployed DO NOT waste months of eligibility for a measly 300 bucks. Wait it out and get eligible for the Chapter 33 GI Bill. Even 50% eligibility on the Chapter 33 GI Bill will net you thousands of dollars more in tuition cost and BAH.

      Note that GI Bill submissions can be back dated for up to a year.

      Comment


      • #18
        Re: Student Loan Repayment

        Thanks ParalegalNCO1 this is great info.. BTW I don't mean to repost this questions, but can someone explained of this works:

        " Thanks all for clarifying this to me. Also does the SLRP has to state in the contract that I’m eligible or that’s automatic through GI bill select. My recruiter asked me the copy of my federal student aid summary that he will make sure that it’s fully paid before I go to my training I didn’t sign any type of paper works or forms regarding SLRP process and that’s why I’m little confuse of how SLRP works. Any entail on this?? "

        Comment


        • #19
          Re: Student Loan Repayment

          Originally posted by Tod22 View Post
          Thanks ParalegalNCO1 this is great info.. BTW I don't mean to repost this questions, but can someone explained of this works:

          " Thanks all for clarifying this to me. Also does the SLRP has to state in the contract that I’m eligible or that’s automatic through GI bill select. My recruiter asked me the copy of my federal student aid summary that he will make sure that it’s fully paid before I go to my training I didn’t sign any type of paper works or forms regarding SLRP process and that’s why I’m little confuse of how SLRP works. Any entail on this?? "
          Copy and paste:::

          Just make sure you understand how the SLRP works before you sign. For example, at the time of my enlistment I got up to 20,000 repayment. The payments are disbursed once each year on the anniversary of you joining. So for me thats 6 payments, however they pay a percentage of outstanding loans with a cap of around 15% of the principle balance. So in other words for me to get the full 20 in repayment I would actually have to of racked up somewhere in 40K in loans.

          Comment


          • #20
            Re: Student Loan Repayment

            Your enlistment paperwork MUST contain "Annex L to DD Form 4". Its a piece of paper. Without it you do not have SLRP.

            Comment


            • #21
              Re: Student Loan Repayment

              Originally posted by Tod22 View Post
              Also does the SLRP has to state in the contract that Im eligible or thats automatic through GI bill select. My recruiter asked me the copy of my federal student aid summary that he will make sure that its fully paid before I go to my training I didnt sign any type of paper works or forms regarding SLRP process and thats why Im little confuse of how SLRP works. Any entail on this?? "
              Ummm...wow

              Originally posted by ParalegalNCO1 View Post
              Your enlistment paperwork MUST contain "Annex L to DD Form 4". Its a piece of paper. Without it you do not have SLRP.

              Yeah...I'm kind of worried for you. I don't know how a recruiter can make sure anything is fully paid before you go to training. Paralegal pretty much explained how it works and it doesn't involve fully paying anything before you leave.

              Comment


              • #22
                Re: Student Loan Repayment

                This is crazy then, I mean why would he lie about it.. it's like not the recruiter paying for my student loan out of his pocket the govt. does. Now I'm gonna have to ask for a copy of the annex or the contract before I signed anything else.

                Comment


                • #23
                  Re: Student Loan Repayment

                  Talk to his team leader.

                  Comment


                  • #24
                    Re: Student Loan Repayment

                    How can I get in touch with his team leader seems like he's always work alone all the time and plus I don't feel comfortable going behind his back he seems like a nice person but again I just want to make sure I get what I'm promised to get.

                    Comment


                    • #25
                      Re: Student Loan Repayment

                      Man, I'm loosing interest of joining.. I can see frustration going to attack me.

                      Comment


                      • #26
                        Re: Student Loan Repayment

                        Originally posted by Tod22 View Post
                        Thanks all for clarifying this to me. Also does the SLRP has to state in the contract that Iím eligible or thatís automatic through GI bill select. My recruiter asked me the copy of my federal student aid summary that he will make sure that itís fully paid before I go to my training I didnít sign any type of paper works or forms regarding SLRP process and thatís why Iím little confuse of how SLRP works. Any entail on this??
                        Originally posted by Tod22 View Post
                        Man, I'm loosing interest of joining.. I can see frustration going to attack me.
                        Huh??? you made it sound as if you have already done your enlistment paperwork and have already joined. If you haven't even enlisted yet then of course you have no Annex because you have no contract yet.

                        Comment


                        • #27
                          Re: Student Loan Repayment

                          I know this is an old thread, but I have additional questions.

                          I enlisted 09S with a 'back-up' MOS of 25U. My recruiter said that after I return form BCT, at that point they will 're do' my contract as my my obligations starts from scratch and at that time SLRP will be put into my contract. He said I will also be eligible for the tuition assistance and Post 9/11 GI Bill.

                          1. How can I be eligible for all 3 (I don't really understand the difference in the GI Bills), but he said it would be in my contract but I'd only be eligible once I deploy?

                          2. Am I to understand that SLRP doesn't cover all my loans?

                          3. Is it only loans since I enlisted or are loans prior to enlistment also covered. (as a
                          single mom most of my schooling has been federal & Stafford loans....but some grants)

                          4. I would prefer, after BCT, to utilize tuition assistance to thereby minimize the amount
                          of loans I am borrowing (I still have about a 34 credits to complete for my degree).

                          4. Is what my recruiter says about my contract typical? I mean, could someone explain
                          it in more detail, because my recruiter, G*d bless him, has often been 'misinformed'
                          on numerous facts.

                          I'm sure your answers will lead to more questions, but I'd appreciate any clarification you could offer.

                          Thanks! Ft. Sill in 25 days!

                          Comment


                          • #28
                            Re: Student Loan Repayment

                            Ok so I am already enlisted. I leave for Basic on Nov.8th for Fort Jackson. I will be going O9S. I have already signed everything. I am signed up for 6 years and a 2 year option after. I do have the SLRP in my contract, and they are paying off $48,000 of my school loans. AWESOME. Anyhow, I do understand that they pay a percentage every year. What my question is.. Does the NG talk to my loan companies to let them know that I am enlisted and let the loan companies know whats going on? Or do I need to call each loan company and let them know whats going on? And then, do I fill out a military deferment because those last for only 3 years, what about my final 3 years?

                            Comment


                            • #29
                              Re: Student Loan Repayment

                              Does the military automatically make those payments on your anniversery date if you're eligible for SLRP and have already provided the outstanding loan paperwork? My boyfriend submitted that information in 2008 but nothing has happened with it since. I've read somewhere that he needs to request the payments? Help!!

                              Comment


                              • #30
                                Re: Student Loan Repayment

                                GIBILL and SLRP are two different programs. GIBILL and SLRP both require a 6 year obligation. You receive 36 months of GIBILL benefits. SLRP is paid once a year for each year served. The payment is based on the disbursed amount and is calculated at 15% or $500, whichever is greater, not to exceed $7500. SLRP is currently at $50,000 but only for an 8x0 contract or $45,000 for a 6x2 contract. In order to get SLRP, you need to enlist into a Critical Skill MOS. If you do enlist into a critical skill, you can get a bonus, SLRP, and a $200 kicker which is an extra $200 on top of your GIBILL money that you receive each month for school.

                                Comment

                                Working...
                                X