How should my unit be handling my student loan repayment in the National Guard?

SGT Private RallyPoint Member — Sun, 15 Dec 2019 17:14:20 -0500

I opted for the Student loan repayment program. I was told to keep deferring them. I have a feeling that isnt right. What should my unit be doing to make sure this is being taken care of?

Response by SGM Bill Frazer made Dec 15 at 2019 5:28 PM

SGM Bill Frazer — Sun, 15 Dec 2019 17:28:27 -0500

Nothing- other than reporting because it is echelons above them- why haven't you checked with your Finance Sect/unit. Your unit doesn't pay this, either state or NG Bureau

Response by PO1 Orlando Miller made Dec 16 at 2019 11:43 AM

PO1 Orlando Miller — Mon, 16 Dec 2019 11:43:41 -0500

Telling you to defer your student loans is not the right answer; please inquire with Finance. Anniversary SLRP payments are paid yearly at fifteen percent (15%) or $500 (whichever is greater) of the initial disbursed amounts that were approved upon your date of enlistment, to include accrued interest. However, you must make monthly payments to ensure your loan(s) do not enter into a default status. Keep in mind, there are strict guidelines for deferment and forbearance (see link below); it's not that simple. When reporting to Finance, please have your correct lender or loan servicer information with you to ensure the National Guard is making payments to the correct lender or servicer.

https://studentaid.ed.gov/sa/repay-loans/deferment-forbearance

deferment-forbearance