With the cost of a professional college education on the rise, many students are finding themselves overwhelmed by debt. The Armed Forces can help manage college debt with financial aid and special loan repayment programs for qualified students.<\/p>\n
What financial aid does the government offer for military service or for family members of military personnel?<\/p>\n
The VA offers education benefits for veterans and for their widows and dependents on its GI Bill site.<\/p>\n
Many people are not aware that the Army, Navy, Air Force, and National Guard can offer you special programs for repaying student debt.\u00a0 If you have Federal Direct Loans, you may be eligible to have these loans totally forgiven by joining the military.<\/p>\n
Service Scholarships<\/strong> are provided by governmental agencies and military branches, to provide a career path for many students. After graduation or residency, employment serving undeserved populations or enlistment in the military for a prescribed length of time. Is service right for you? AAMC Academic Medicine<\/a> provides an extensive resource for those interested in service scholarships.<\/p>\n U.S. Army Scholarships<\/a><\/strong><\/p>\n Army Student Loan Repayment: Active Duty<\/strong><\/a><\/p>\n The Army Student Loan Repayment: Active Duty program<\/u> offers military student loan repayment assistance to people on active duty. Among other requirements, you must enlist for at least three years and score 50 or higher on the Armed Services Vocational Aptitude Battery (ASVAB).<\/p>\n If you qualify, the Army will pay up to 33.33 percent of your principal balance each year for three years. You could receive up to $65,000 in loan assistance. Note that you can only use this money to pay off federal student loans, such as Direct, FFEL, and Perkins Loans. Private loans aren\u2019t eligible.\u00a0 Please check out our Army Dental Corps Benefit Presentation <\/a><\/p>\n Army Reserve College Loan Repayment Program<\/strong><\/p>\n If you\u2019re in a qualifying Military Occupational Speciality (MOS), you could get assistance through the Army Reserve College Loan Repayment Program. You must enlist for at least six years and have loans before you go on active duty.<\/p>\n This program will pay 15 percent of your loan balance for up to $20,000. It applies primarily to federal student loans, not to private ones.<\/p>\n Health Professions Student Loan Repayment Program<\/strong><\/p>\n The Health Professions Loan Repayment Program helps doctors, dentists, and other healthcare professionals on active duty or in the Army Reserve. Qualifying borrowers can receive up to $40,000 per year for up to three years. This $120,000 in military loan forgiveness could go a long way toward paying off medical or dental school loans.<\/p>\n Prior Service Soldier Loan Repayment Program<\/strong><\/p>\n Army Reserve soldiers with prior military service can receive up to $50,000 toward student loan payments. You can request more information about student loan forgiveness for veterans through the U.S. Army website.<\/p>\n National Guard Student Loan Repayment Program<\/strong><\/p>\n Members of the National Guard could receive up to $50,000 in military loan forgiveness. You must enlist for a minimum six-year term of service.<\/p>\nArmy Programs<\/h4>
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