loan repayment

[DC LD]

I have seen the loan repayment program offered by the Army. Does anyone have any insight into this? Do all service branches have this type of program? Is it true that you have to go in enlisted to receive this option? I have my bachelors and would love to serve my country. Having my school loans paid would be great. It seems to me that it would make up for the money I could be making in the civilian world.

[NarcCop]

Yes, it is a good program. I used it as a reserve enlisted recipient. I don't know if it is offered to officers or not. One point to remember though...the goverment will only pay one lump sum payment per year, annually on your enlistment anniversary. This may or may not be a problem depending on the amount of loans BUT, in my case, I had to obtain deferments every year pending those payments, eventually I ran out of deferments and had to chose between prompt payment of MY loan by ME, or late payment of MY loan but by the G....BTW, the poor credit is reflected on YOU, not the G:)...overall great program, but YOU have to make it work well!...hope I didnt confuse you and if you have any more questions...please post them.

[HAVEGUNWILLTRVL]

DCLD,

NARCCOP is right thats how the program works. The Army offers 65,000 in CLRP. Also in order to recieve that amount you will more than likely have to enlist for between 4 and 6 years depending on which jobs offer it. The Reserves will only pay 10,000 in CLRP right now but may change in the coming new year. Good luck!

Ski

[HAVEGUNWILLTRVL]

DCLD,

One more thing. If you decide enlist for the OCS option you will not get any of the "Bells and Whistles" i.e. cash bonus and CLRP. You can Apply to OCS after 6 months but you will lose the bonus and CLRP once you get comissioned. Take care,

Ski

[DC LD]

What about other branches? I've looked around on the web but only the Army info was easy to find.

[HAVEGUNWILLTRVL]

DCLD,

Hmmm, I know the other branches of service besides Army offer CLRP. I think the Air Force offers 20k, Marines 50k and am sure the Navy probably offers 50k as well. A solution to your prob would be to go ask a Recruiter no matter the branch to see a copy of Profile Magazine. In it you will find what each branch guarantees etc. If they tell you they dont have it and try and strong arm you pm me and I will get the info for you. I have a copy of it at the office. Every Recruiters goal is to get you into the MEPS station (Military Entrance Processing Station) to see what you qualify for. If you can score a 50 on the Asvab test and have a heartbeat and you dont have any serious law violations/history of drug use you will qualify for service in our great Armed Forces. and The only other issue is the fact that not all jobs for the Army anyway offer CLRP. It varies month to month. Let me know if you have further questions and I can find out about other branches for you. Take care.

Ski

[Cape804]

I believe that all branches have some form of loan repayment. However you must enlist. You cannot qualify for this benefits as an officer.