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  • Student Loan Repayment

    How does Student Loan Repayment works, if I enlist for 3 years does the guard pay the rest of my remaining balance of student loan? also my recruiter mentioned about if I enlist for 6 years I get more money plus I'm eligible for GI bill and I thought it doesn't matter if you enlist for however many years you enlist you're automatically eligible for GI? I'm going to see him again next week I thought I'll do my little homework.

  • #2
    Re: Student Loan Repayment

    For the Gi Bill - your recruiter is right its 6 years to be eligbile for the GI Bill Reserve Select which is different from Post 9/11 GI Bill.

    I'm not sure how SLRP works other than it depends on your state how much you get. I believe it ranges from 10,000 to 50,0000...could be wrong about the amount of money you get.

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    • #3
      Re: Student Loan Repayment

      Thanks for the answers, but what's the difference between difference between GI Bill Reserve Select and Post 9/11 GI Bill? The reason I want to enlist for 3 years it's because I just don't want to get stuck doing the same MOS I pick for 6 years and not knowing if I'm going to like or something I really want to do in the civilian world and I also want to make sure that I'm eligible to get that student loan repayment if I'm going to enlist for 3 years. Thanks again to all for answering my questions.

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      • #4
        Re: Student Loan Repayment

        GI Bill Reserve Select is the GI bill offered to military service members that are in reserve components. Its about 337 dollars a month. Post 9/11 you get more money and some more benefits. Reserve members can get Post 9/11 by deploying to a conflict zone for 90 days or serve 3 years in a title 10 status.

        There is also federal tuition assistance that does not require a 6 year service duty contract. which cover 4500 dollars per fiscal year.

        What MOS do you want to do in the guard? You could possibly change your mos depending on what your Regional Training Institute offers instead of doing the 2 week annual training.

        Originally posted by Tod22 View Post
        MOS I pick for 6 years and not knowing if I'm going to like or something I really want to do in the civilian world
        Also since you plan to use the training you get from the military to get a job in the civilian world. Take a look at military skills translator and resumer builder on military.com
        Last edited by MichaelPC; May 9th, 2011, 03:46 PM.

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        • #5
          Re: Student Loan Repayment

          The MOS I pick is 15P Aviation Operation Specialist. Yeah I'll look it up in that site to see what that mos skill like in the civilian world. Thank you.

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          • #6
            Re: Student Loan Repayment

            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.

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            • #7
              Re: Student Loan Repayment

              The way SLRP was explained to me is they make payments on it while youre in. Some percentage, I don't remember what. They don't just pay off the full amount in one lump sum.

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              • #8
                Re: Student Loan Repayment

                Originally posted by NJ732 View Post
                The way SLRP was explained to me is they make payments on it while youre in. Some percentage, I don't remember what. They don't just pay off the full amount in one lump sum.
                See the above post.

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                • #9
                  Re: Student Loan Repayment

                  You know what they say, great minds uhh.. post at the same time?

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                  • #10
                    Re: Student Loan Repayment

                    Originally posted by MichaelPC View Post
                    GI Bill Reserve Select is the GI bill offered to military service members that are in reserve components. Its about 337 dollars a month. Post 9/11 you get more money and some more benefits. Reserve members can get Post 9/11 by deploying to a conflict zone for 90 days or serve 3 years in a title 10 status.
                    The 337 dollars a month do you get in separate check also do you have to be full time in college to get that 337 a moth and what if you just going to school only part time, am I still eligible for that 337 dollars or does it varies maybe get percentage of it? Thanks.

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                    • #11
                      Re: Student Loan Repayment

                      If you did it only part time then the amount you would recieve would be cut in half. I believe with GI Bill Select Reserve it gets paid to you and not the institution. Which is different than Post 9/11 Gi bill which does get paid to the institution.

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                      • #12
                        Re: Student Loan Repayment

                        Go it. Thank you!

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                        • #13
                          Re: Student Loan Repayment

                          The above post is incorrect. As long as you are AT LEAST half time you get the full amount. If you went to school LESS THAN half time you get nothing. Yes it is paid directly to you.

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                          • #14
                            Re: Student Loan Repayment

                            I got a sheet after graduating OSUT that says you get partial amounts depending on how many credits you're taking


                            SSG ^^ knows his stuff though so maybe things changed

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                            • #15
                              Re: Student Loan Repayment

                              Originally posted by ParalegalNCO1 View Post
                              The above post is incorrect. As long as you are AT LEAST half time you get the full amount. If you went to school LESS THAN half time you get nothing. Yes it is paid directly to you.
                              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.

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