Student loans and enlisting

[dave521]

Does the USMC provide any student loan repayment benefits? I have student loans with the federal government and a few private student loans with Sallie Mae. If there are no repayment options, is it possible to at least have both federal and private loans deferred until after I serve my active duty time? As an E-2, student loans would take up most of my monthly pay. Going Officer right now is not an option, just want to know what's available for enlisted.

[MOS4429]

A similar thread was posted yesterday at http://www.leatherneck.com/forums/showthread.php?t=107937

Also, go to this link: http://lmgtfy.com/?q=Servicemembers+Civil+Relief+Act+College+Tuition +deferment

If you are considering enlisting in the Marine Corps in order to avoid your financial obligations, don't. The Marine Corps are looking for a few good men with integrity, and fulfilling your financial obligations is your responsibility.

And no, to my knowledge, the Marine Corps will not pay your student loan obligations for you if you enlist. Additionally, even if they did, that would not be an appropriate reason to enlist.

[MOS4429]

One more thing on this, and that is if this is your motivation for enlisting, go check with the Army. I believe they have such a program.

[dave521]

One more thing on this, and that is if this is your motivation for enlisting, go check with the Army. I believe they have such a program.

Thanks for the reply, I'm sticking with the USMC though. I'm not joining to get out of other obligations, just wanted to see what is available, and the deferment is perfect anyways.

[MOS4429]

Thanks for the reply, I'm sticking with the USMC though. I'm not joining to get out of other obligations, just wanted to see what is available, and the deferment is perfect anyways.

You understand a deferment is not automatic, right? And it may not even apply in your situation.

You should discuss this with your recruiter, with the college, and with the loan holder to ensure terms and conditions of any deferment are worked out and agreed upon by all parties.

Otherwise, if you choose to ignore it, it will go into default and you will have a collection agency on your back, not to mention screwing up your credit.

[Zulu 36]

Like MOS4429 said, the deferral or forbearance is not automatic, but student aid lenders are pretty flexible (personal experience). They will also work with you on payback plans if you cannot afford the normal monthly payment as they will not give you forbearances forever.

If you allow the loans to go into default, they will garnish all federal money you get. Your whole tax refund will be snagged (if you get one), and if you are in the Corps, they will garnish your gross pay at 15%. A negotiated loan payment is almost always going to be lower than 15% of your gross.

[jp2usmc]

Does the USMC provide any student loan repayment benefits? I have student loans with the federal government and a few private student loans with Sallie Mae. If there are no repayment options, is it possible to at least have both federal and private loans deferred until after I serve my active duty time? As an E-2, student loans would take up most of my monthly pay. Going Officer right now is not an option, just want to know what's available for enlisted.

They can throw your "but" in the Brig and garnish your wages until your obligations are met.

If you want a handout, see Obama.

[blackshirts]

Every other branch does, and it sucks we don't. We probably turn away a lot of good potential recruits.

I went ahead and came along with 30k student loans. They're waiting for me when I get out and finish college.

[MOS4429]

Every other branch does, and it sucks we don't. We probably turn away a lot of good potential recruits.

I went ahead and came along with 30k student loans. They're waiting for me when I get out and finish college.

Kinda funny, when looking up information on this subject, came across this:

http://answers.yahoo.com/question/index?qid=20081007071320AA0kSM4

Sounds like all the answers but one were given by civilians who seem to understand why the Marine Corps wouldn't do this.

[blackshirts]

I'm here and I fully understood before joining that this was the case. Still, if all things are similar they'd still be choosing the Corps over the other branches. That ends that simplistic line of thought.

Gee whiz...while we're at it, lets cank the whole GI Bill. School makes you weak. All this free giveaway crap really should be cut.

[MOS4429]

All this free giveaway crap really should be cut.

I agree!

We have a $16,000,000,000,000+ deficit. Every bit helps.

;)

[blackshirts]

Well hey, you left out the GI Bill part! I see you're a college man yourself!

Haha, but we're both right. I see both sides. I'm just being selfish :( That's a whole sheetload of money I'll have disregarded, unless I do grad school.


No regrets at all though.

[MOS4429]

Well hey, you left out the GI Bill part! I see you're a college man yourself!

Haha, but we're both right. I see both sides. I'm just being selfish :( That's a whole sheetload of money I'll have disregarded, unless I do grad school.


No regrets at all though.


I don't know the answer to this, so I guess that's why I am asking your, huh, but while you are enlisted, I assume you can stash monies away on the G.I. Bill. Can those funds be used to pay past college tuition, or minimize it.

I know the college loans stink. I have a daughter accepted, ready to go and on the 11th hour had to withdraw, unless she wanted to take out $6500 loan for one semester, and this was at a state school.

Right now, unless you are on public assistance, do not work or you are an illegal alien, you have to take out a loan.

Hopefully you'll have enough saved to put a dent on it.

[blackshirts]

No, all that you get while serving is TA for amount owed. I can't do any college as a first termer anyways. We'll see with the post 9/11 Bill whenever I decide on getting out. It's not really common, so maybe the university's military advisor can advise me.