How does "Student loans repayment" work?

2019-12-18T08:50:31-05:00

I'm qualified to get student loans repayment and it is in my contract. I'm trying to take that advantage, but I have no ideas how can i use that program because currently I have no loans, so my question is is it okay to get the loans now and get that advantage? And if so how does Army repay my loans? If anyone knows about it please tell me about it. I tried to looked it up, but there was no satisfying answer.

Response by PFC Donnie Harold Harris made Dec 18 at 2019 9:06 AM

2019-12-18T09:06:00-05:00

Yes, you pay till you are dead.

Response by SGM Jeff Mccloud made Dec 18 at 2019 9:10 AM

2019-12-18T09:10:41-05:00

If you signed this contract prior to 1 OCT 2019, new loans after the contract do not qualify.
If you signed this contract AFTER 1 OCT 2019, you can take out new student loans and use the SLRP.
The Army repays 15% of the original amount once a year on the anniversary of the contract initiated by the Soldier requesting payment no more than 30 days out from that date. If it was a six year contract, the Army will make six payments.

Response by SSG Private RallyPoint Member made Mar 20 at 2020 10:23 AM

2020-03-20T10:23:56-04:00

If active I am not sure, I know on the Reserve side every year on your anniversary you get with the UA or who ever is assigned to input that benefit into the system and in about 2 weeks if all goes well loan holder will receive a payment. When I had mine I did not have to make a payment for the rest of that year. This continued until I used up the allotment on my contract.