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09s slrp

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  • 09s slrp

    I'm gettin mixed answers on this benefit. I qualified for this benefit for about about 14k. However, I have to start paying it by Dec 22nd. When do they actually pay for the loan? How do they pay for it? These loans are continuously gathering interest which doesn't go into what they are paying back so what's the best way to take care of these? I know this has been brought up alot, but there are different answers from my recruiter and from some of you so I'd like to get a straight answer if I can. Thank you.

  • #2
    Re: 09s slrp

    Originally posted by tua05737 View Post
    I'm gettin mixed answers on this benefit. I qualified for this benefit for about about 14k. However, I have to start paying it by Dec 22nd. When do they actually pay for the loan? How do they pay for it? These loans are continuously gathering interest which doesn't go into what they are paying back so what's the best way to take care of these? I know this has been brought up alot, but there are different answers from my recruiter and from some of you so I'd like to get a straight answer if I can. Thank you.
    Now, this is not what you were asking in a previous post. So, yes, I can see where you would feel like you're getting mixed answers. You made it sound like you were taking on loans throughout your contract and expected them to get paid. Correct me if I"m interpreting this wrong, but you have 14K in loans RIGHT NOW as you are enlisting, right? These loans are the ones that your recruiter is saying falls under the SLRP (which I can agree with). Now, if 2 years into your enlistment contract, you take on separate loans (above the original 14K loans), then those will not qualify for SLRP. Does this make sense?

    Also, have you taken a look at the Benefits sticky on SLRP? It has the basic information you need to know about how it works.

    The general answer to how the military pays your loans back is one annual payment each year. You must keep them out of default and submit the appropriate lender's information every year. Outside of this, I would recommend you get details from your recruiter. None of us on here will have the resources and knowledge of your personal situation to guide you like your recruiter will.

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    • #3
      Re: 09s slrp

      Yes as to my previous point you were right. I read through the sticky again and confirmed it. That is not what my recruiter said which is why I was confused. I am already enlisted 09S and leaving for BCT in January 2013. I will talk to my unit during my RSP drill and get that figured out.

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      • #4
        Re: 09s slrp

        Originally posted by tua05737 View Post
        Yes as to my previous point you were right. I read through the sticky again and confirmed it. That is not what my recruiter said which is why I was confused. I am already enlisted 09S and leaving for BCT in January 2013. I will talk to my unit during my RSP drill and get that figured out.
        OK, sounds like a good plan! For my own curiosity, did you get SLRP in your contract when you enlisted as O9S? If you have your enlistment paperwork, there's an addendum that outlines your SLRP, the amount of the loans, etc.

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        • #5
          Re: 09s slrp

          I often tell applicants and soldiers that the SLRP program has always been difficult to use. It works, but there is a fair amount of fine print and tending that goes along with it. It's not my favorite incentive, but it sells well.

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