School Loans?

[MotivatedMack88]

Good evening everyone!

Im currently in the DEP and set to leave Feb. 9. I spent these last two years racking up some hefty student loans at URI. Is there any way the Marines will be able to help pay of this debt even though it was accrued before I enlisted? Thanks.

[yellowwing]

Complete Boot Camp, go to SOI, report to your Unit, go to Mojave Viper, deploy to a combat zone.

2007 Figures (http://usmilitary.about.com/od/fy2005paycharts/a/combatpay.htm)
A member assigned to or deployed to a combat zone receives "combat pay" (officially called "immiment danger pay") at the rate of $225.00 per month.

Being assigned to or working in a combat zone triggers also triggers a tax advantage, in some locations. Congress and/or the President can designated combat zones as "Tax Exempt" areas. Earnings received while in these combats zone are excluded from taxable income. (NOTE: This only applies to Federal Income Tax Withholding (FITW). A military member still pays social security taxes and Medicare Tax. Whether or not State Tax is excluded is up to the individual state.

Two or three 7 month deployments in your first enlistment should clear up much of that student loan.

[0231Marine]

Complete Boot Camp, go to SOI, report to your Unit, go to Mojave Viper, deploy to a combat zone.

2007 Figures (http://usmilitary.about.com/od/fy2005paycharts/a/combatpay.htm)
A member assigned to or deployed to a combat zone receives "combat pay" (officially called "immiment danger pay") at the rate of $225.00 per month.

Being assigned to or working in a combat zone triggers also triggers a tax advantage, in some locations. Congress and/or the President can designated combat zones as "Tax Exempt" areas. Earnings received while in these combats zone are excluded from taxable income. (NOTE: This only applies to Federal Income Tax Withholding (FITW). A military member still pays social security taxes and Medicare Tax. Whether or not State Tax is excluded is up to the individual state.
Two or three 7 month deployments in your first enlistment should clear up much of that student loan.

Cold blooded but very true...lol. My wife and I had 8 deployments between us...we have a pretty nice "rainy day" fund now :)

[dhenderson88]

From what my Series Commander told me in Boot Camp, you'll be able to use the new GI Bill, when it passes, to pay off student loans, the New GI Bill is for $55,000.

[MotivatedMack88]

Wow! Prompt service; im very impressed. Thanks a lot guys, I can relax a little about it now.