What loan types qualify for SLRP?
what types of loans qualify for the student loan repayment program through the army reserves?
Michael:
Any of these government-backed loan types qualify for the Army Reserves Program:
• Auxiliary Loan Assistance for Students (ALAS)
• Stafford Student Loan or Guaranteed Student Loan (GSL)
• Parent Loans for Undergraduate Students (PLUS Loans)
• Federally Insured Student Loans (FISL) (eliminated in 1984)
• Perkins Loan or National Direct Student Loan (NDSL)
• Supplemental Loans for Students (SLS) (eliminated in 1994)
There are two programs, depending on your AR job: You can receive either a 15% per year/$1500 payment (whichever is greater) up to $10,000, or you may qualify for a 15% per year/$3000 payment (whichever is greater) up to $20,000.
You can find that information here: http://www.army.com/enlist/reserve-education.html
As you can see, private student loans do not qualify for the repayment program.
I hope that helped – good luck!
