If I join the Army Guard for six years and then go back to school and take out a student loan while I'm attending, will the Army Guard pay off my loan when I finish school or does it have to be an existing loan before I join?
Slrp
If I join the Army Guard for six years and then go back to school and take out a student loan while I'm attending, will the Army Guard pay off my loan when I finish school or does it have to be an existing loan before I join?
Blue Phase
The SLRP program is for existing loans prior to joining. The program pays a portion of your loan over the course of, for example, a six year enlistment on the aniversary of your entrance date, up to $20K.
If you, like myself, are still attending course in college you can forgoe further student loand by using the combination of State and Federal Tuition Assistance to pay for yout courses. As well if you qualify for the Montgomery GI Bill (to include the kicker if you qualify for it) will pay you an monthly amount based on the GI Bill and your enlistment - this is money you can use for things like living expenses, etc. It is not a lot of money, as far as living the high life, but it helps offset needing to take out further loans.
If you do require additional loans, the "bonus" is that you do not have to take out such large loans - and if between the Tuition Assistance, MGIBill, and any Pell (or other) grants that you recieve you can basically attend school for the cost of the books - which is no little matter as I am sure you know.
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