Can the GI Bill be used to pay off student loans? You cannot request education benefits specifically to repay a student loan.
Similarly one may ask, can I use my GI Bill to pay off my spouse’s student loans?
A: The GI Bill does not work to pay off any student loans – yours or your wife’s. That is a separate program called the Student Loan Repayment Program (SLRP). … Most likely, as a joint account holder with your wife, your loans would be classified as consolidated. However, don’t let this deter you from enlisting.
Likewise, can you get loan repayment and GI Bill?
Fact: You can’t get the GI Bill and Student Loan Repayment Program (SLRP) for the same time period. … Fact: Even though you had the MGIB-AD and SLRP, you would still qualify for 12 months of benefits under the Post 9/11 GI Bill.
Do veterans qualify for student loan forgiveness?
Loan forgiveness recipients must either work full-time at a government job — federal, state, local and military posts are all included — or a not-for-profit, non-partisan organization, such as the Peace Corps. … He has covered Washington, D.C. since 2004, focusing on military personnel and veterans policies.
Under the VA Student Loan Repayment Program, you may be eligible to receive up to $10,000 per year, with a lifetime maximum of $60,000, to help you repay your student loans. Employees may qualify for monetary awards to help them medical training or to pay back their student loans.
VA only administers the education options. VA does not issue the cash bonus or repay student loans. Survivors’ and Dependents’ Educational Assistance (DEA) or Chapter 35 provides assistance for degree and certificate programs, apprenticeships/on-the-job training, correspondence courses, and other programs.
VA Loans is the only mortgage loan program that exempts student loans that are deferred from DTI Calculations. However, student loans need to be deferred for at least 12 months. Veterans borrowers with deferred student loans are exempt from student loans being counted in debt to income ratio calculations.
As a member of the military on active duty, you may qualify for special benefits and repayment options for your federal and private student loans.
The Army will repay 33 1/3 percent of the outstanding principal balance, less taxes of the Soldier’s student loans annually or $1,500, whichever is greater, after each year of service (up to $65,000, less taxes) up to three years total.