Posted on Oct 17, 2019
SSG Ground Recon Team Sergeant
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I'm coming up on my reenlistment and need some info on the student loan repayment program offered by the North Carolina Army National Guard.

I've heard some basic information on it but I've also heard it isn't exactly what is advertised and can be a bit of a headache. Does anyone have any personal experience with this program?
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Mary Owen
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Edited 16 d ago
I didn`t have such experience, and I think people should be more responsible when taking a student loan. Last month I found an interesting site https://smalan-norge.com/ where you can read reviews on different loan providers. They prepared rather good description of their conditions and rates, and it is easy to choose the best one for your needs.
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SGM G3 Sergeant Major
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It requires effort by the Soldier, if that is what you mean by "headache".
Where Soldiers fail and run into the headache:
1. The Soldier is responsible for making monthly payments on their own student loans, the SLRP pays out annually, but will not pay out that year if the loan is in default that year.
2. The Soldier is responsible for updating or confirming the lender information for payment no less than 90 days prior to scheduled annual payment. (Student loans get sold, just like mortgages and car loans).

SLRP does not "pay off the loan", it pays as much as 15% of the original loan total, once a year for every year of the contract.
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SFC Senior Brigade Career Counselor
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The biggest issue to be aware of using student loan repayment is that the money will still be taxed as income. That means that your $40,000 student loan repayment well actually total around $30,000 in cash payments to you
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