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Does The Air Force Pay For College Loans

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Applying For Air Force Tuition Assistance Program

Joining the Air Force For Financial Stability | Student Loans

You can apply online through the Air Force official website. Its good to know that when you apply for the program, and you fail in a course, youll be required to reimburse the TA funds. So if youre not sure youll complete the entire course, do not apply for the program.

Also, while pursuing the course, try not to fail in a grad, receive a withdrawal grade, or a D. These instances can cause you to reimburse the funds.

Armed Forces Student Loan Repayment Programs

The military wants to attract an educated force, and one way to do that is to target college students by offering them a student loan repayment program in exchange for military service. Currently only the Army and Navy offer SLRPs.

Army Loan Repayment Program . The Army LRP is available to highly qualified new Army recruits in certain critical career fields . To be eligible, recipients must be a non-prior service member, decline the Montgomery GI Bill in writing when they accept the Army LRP, and they must have the LRP written into their enlistment contract. Soldiers enrolled in the Army Loan Repayment Program will earn 33 & frac13 percent or $1,500, whichever is greater, toward the remaining original unpaid principal on all qualifying loans for each successfully completed year of enlisted active duty up to $65,000. More information.

Navy Loan Repayment Program . The Navy also offers a Loan Repayment Program for eligible first term Active Duty enlistees. Eligible servicemembers must have no prior military service and eligible student loans. This must be entered into the enlistment contract when joining the service. the Navy will repay 1/3rd of the approved LRP incentive amount or $1,500 on the sailors 1st, 2nd, and 3rd anniversary of their active duty service date. The total amount paid will be based on the amount approved during the application process minus applicable federal and state taxes.

Military College Loan Repayment Program

The Military College Loan Repayment Program is available to students who have already accumulated student loan debt and are interested in entering the active-duty military. Military personnel coming off of active duty and joining the reserves may also be eligible.

Additional eligibility requirements include:

  • Being in a Military Occupational Specialty that’s eligible for CLRP
  • Having a high school diploma — not a GED or equivalency test
  • Having a qualifying student loan
  • Scoring at least a 50 on the Armed Forces Qualification Test
  • Requesting CLRP participation on your enlistment contract

The amount of money you can get through CLRP depends on which branch of the military you’re in and whether you’re on active duty or in the reserves. Here’s an overview of how CLRP works for each branch of the military:

  • Army: Active-duty Army members are eligible for up to $65,000 in student loan repayment assistance. You must agree to enlist for at least three years. After your first year of service, the Army will pay 33.33% of your outstanding principal student loan balance or $1,500, whichever is greater. It will also pay you one of these two amounts for each of the next two years.
  • Navy: Navy members are eligible for the same benefits as Army members, except they must agree to at least four years of service when they enroll.
  • Unfortunately, there is no CLRP for Marines.

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Veterans Educational Assistance Program

VEAP is an old education program providing two for one matching from the government that was only available for servicemembers who entered active duty between January 1, 1977 and June 30, 1985, and who opened and contributed at least $25 before April 1, 1987.

Furthermore, all the money must be used within 10 years of release from active duty with anything other than a dishonorable discharge. More information about VEAP can be learned at the VA website.

Pros And Cons Of Joining The Military For Student Loan Forgiveness

Interested In Joining The Armed Forces? Service Academies ...

Joining the military is a huge, life-changing decision. Serving in the armed forces offers many incredible opportunities, but it is also one of the hardest, and riskiest, options you can choose. Before you jump in, you need to consider the pros and cons of joining the military for student loan reimbursement benefits:


  • Depending on your eligibility and your program, you may be able to earn money toward your student loan debt, which can, of course, benefit your financial future immensely.
  • Depending on the branch of military you join and your exact role, you may also earn a salary and health benefits. This is also true for choosing a job that offers student loan forgiveness.
  • Most military personnel also receive free or discounted housing.
  • You get the chance to serve your country and make a difference in the world. Volunteer programs that offer student loan forgiveness also offer the chance to help people and make an impact.
  • The military offers the chance to build your resume and learn useful, marketable, and often high-tech skills while you serve. The experience can help you build a very rewarding career, whether you decide to stay in the military or leave after your commitment.
  • You may also get the chance to travel, and you could be eligible for future tuition assistance in addition to help with the student loans you already have.


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Servicemembers Civil Relief Act Interest Rate Cap

This is one of the few benefits that affect private student loans. Interest rates are capped on student loans at a 6% rate during periods of active-duty service. You must provide the lender with written notice and a copy of your military orders.

This benefit is for student loans issued on or after August 14, 2008. Consolidating loans with a rate higher than 6% after your active-duty start date is a bad idea as these new loans may not qualify for this benefit.

Officer Track And Enlisted Track

Each branch of the militaryArmy, Navy, Air Force, Marine Corps, and Coast Guardare organized into Officer and Enlisted service members.

Strictly speaking, Officers outrank Enlisted but the two paths are designed to work side-by-side and each brings different skills and focus.

Enlisted military members do the hands-on work of the military. They often receive specialized training and become technical experts as they progress through their careers.

Senior Enlisted members are responsible for personnel management and mentorship of both Enlisted and Junior Officers.

A 4-year college degree is not required to enlist in the military, although there are numerous opportunities to get a degree once you are serving or after you complete your time obligation.

Military officers lead groups of enlisted and fellow officers, with size and level of responsibility increasing as they become more experienced.

Their training and job performance evaluation focus on leadership and increasingly complex decision-making to impact overall policy and mission direction.

To join as an officer, you must have a 4-year degree. Those in pursuit of a degree may be able to become part of an officer training program while they attend college, such as ROTC.

There are limited opportunities for senior Enlisted members to become Officers or to serve as Warrant Officers, Limited Duty Officers, or in another capacity.

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Health Professions Student Loan Repayment Program

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.

Should I Go To College Before Joining The Airforce

HPSP: How I paid a $200k college loan in CASH!

Whether to join the military prior to finishing college depends on your goals and circumstances. If youd like to become an officer, then you need to complete your degree prior to joining. If you need tuition assistance, then completing your degree over time as an enlisted member might be the right choice.

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Army Nurse Corps Loan Repayment And Bonus

The Army Nurse Corps is responsible for taking care of Army servicemen and women all over the world. Their outstanding work is essential to the Army, and therefore, in high demand.

To attract a high caliber of nurses to work in the Army Nurse Corps, theyve put together a lucrative package to entice military nurses to enlist. A bonus to joining the Army as a military nurse is the opportunity to work alongside the talented doctors and medical professionals currently serving.

Limit Your Interest With The Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act is for any military members who took out student loans out prior to joining. They provide a cap on interest rates while you serve on active duty and this applies to both federal and private loans.

The loan mustve been disbursed before you started active duty. The interest rate cannot exceed 6% and this can bring significant savings, especially with private loans.

How to apply for SCRA:

Submit a copy of your service orders to have this applied to your loans

  • Wait until your loan servicer applies the cap through checks of the military database

This is helpful for anyone who wants to join the military after youve finished your education. It can keep your payments low and cap the amount of interest you need to pay back.

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Air Force Student Loan Repayment Limitations

The major limitation of joining the Air Force SLRP is the inability to receive the Post 911 GI Bill benefits and AF student loan services in the first year of service. As explained earlier, if you want to receive the benefit in the first year, you have to apply for at least six years in service.

Looking at the Post 911 GI Bill benefit, the Air Force student loan repayment is not ideal since it only provides $10,000. The Post 911 GI bill has more advantages.

Another limitation of the program is the Airmen enlisted in the Air Force Reserves. Currently, theyre not eligible to receive any benefits from the program. However, the service members enrolled in the Air Force Reserves can qualify if they sign up for specific missions. You can receive a maximum of $20,000 in Air Force SLRP benefit, which is better than what a regular Airmen will receive.

You should know that there are taxes on the Air Force Student loan repayment benefits you receive. 28% of your repayment is transferred to the Internal Revenue Service , so instead of the $10,000, youre actually getting $7,200.

College Student Scholarship Types

how much does the air force pay for college

If youre already in college, you can still experience the benefits of joining Air Force ROTC. In addition to detachment-specific scholarship opportunities, freshman and sophomore students may be eligible for the In-College Scholarship Program . The program awards scholarships based on merit during two selection phases . Note: AFROTC Scholarships do not cover room and board.

Reserved for Commanders In-College Scholarships offered to cadets pursuing a technical major. It pays 100 percent tuition and authorized fees at any public or private institution with an Air Force ROTC detachment. Selectees also receive a monthly living expense stipend and an annual book stipend.

This is awarded to all cadets selected through the In-College Scholarship Program and pays up to $18,000 per year in college tuition at any public or private institution with an Air Force ROTC detachment. Scholarship payment is further capped at up to $9,000 per semester or up to $6,000 per quarter. Selectees will also receive a monthly living expense stipend and an annual book stipend.

If youre interested in becoming a nurse, Air Force ROTC offers the Nursing Scholarship Program on a competitive basis to undergraduate sophomores and juniors. Applicants must be accepted to a nursing program at a college or university accredited by the National League for Nursing Accreditation Commission or Commission on Collegiate Nursing Education .

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Will The Military Forgive Your Student Loans

Advertiser Disclosure: Opinions, reviews, analyses & recommendations are the authors alone. This article may contain links from our advertisers. For more information, please see our .

The GI Bill is one of the most popular military benefits programs around and it is a great way to pay for your college education. But the GI Bill can only be used to pay for college while you are in the service or after you separate from the service. What if you already had student loans when you joined the military? Well, there are military sponsored student loan forgiveness and repayment programs for that too.

Department Of Defense And Federal Agency Student Loan Repayment

Veterans who work for the Department of Defense or other federal agencies may qualify for student loan repayment assistance as part of their employment for non policy-influencing positions. Not all federal agencies offer this incentive and amounts vary. Contact your human resources department to see if you could receive this benefit.

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The Montgomery Gi Billselected Reserve

The Department of Veterans Affairs’ Montgomery GI BillSelected Reserve program offers education and training benefits for members of the Air Force, Army, Coast Guard, Marine, or Navy Reserve, as well as the Army National Guard and Air National Guard.

In limited instances, service members may also be able to receive benefits after leaving the Selected Reserve.

The maximum benefit is currently $384 a month for up to 36 months of college or other education.

Reserve Officer Training Corps

What the Military Can Do For You and Your Student Loans

Reserve Officer Training Corps is probably the most well-known option for having the military pay for college. Students apply for and are accepted into ROTC and receive a college education in exchange for a military service commitment. Details vary by branch and school and I recommend prospective students research these programs with the school they are interested in attending.

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The Marines College Loan Repayment Program For Officers

For one reason or another, the Marines do not participate in the traditional CLRP programs like the other branches of the military.

Views about why they dont participate differ, but the Marines did recently make a bit of an about face by providing some re-enlistment CLRP-like incentives for officers who re-up with the Corps.

In 2007, the Marine Corps launched a pilot program to provide up to $30,000 of student loan debt for officers who agree to serve an extra 6 months , but this program expired in 2011, and I havent heard any stirrings of it ever coming back.

For whatever reason, the Marines just dont seem all that motivated to send their personnel to school, or help them pay for previous schooling.

Federal Vs Private Student Loans: Whats The Difference

While federal and private student loans can both help you pay for education-related expenses, they have several differences.

  • Federal student loans are provided by the government and come with interest rates determined by Congress. To be eligible for these loans, you must have financial need and must attend an eligible institution that participates in the federal financial aid program. There are also several student loan forgiveness programs available some of which military members might qualify for, such as PSLF.
  • Private student loans are offered by private lenders that set their rates according to market conditions. Youll typically need good to excellent credit or a creditworthy cosigner to qualify for a private student loan. Unlike federal student loans, private student loans generally dont offer any forgiveness options.

Refinancing your student loans might help you save money on federal or private student loans though remember that refinancing federal loans will cost you access to federal benefits and protections. You can use our calculator below to see how much you could save by refinancing your student loans.

Step 1. Enter your loan balance

Checking rates wont affect your credit score.

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Health Professions Scholarship Program

Those interested in joining the Army, Navy, or Air Force can take advantage of a scholarship to attend medical or dental school.

The scholarship includes full tuition and fees, health insurance reimbursement, other school-related expenses, and even a monthly living stipend.

If you want to pursue a career in medicine and join the military, this is a great option to take full advantage of the financial incentives that come with that path.

The program is open to those with an undergraduate degree who are applying for medical or dental school, as well as those currently enrolled in medical or dental school.

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Iraq & Afghanistan Service Grant

Air Force Tuition Assistance (MilTA)

Children and surviving spouses of a servicemember who died as a result of military service in Iraq or Afghanistan may be eligible for an Iraq and Afghanistan Service Grant. The grant is similar to a Pell Grant, but is not limited by family income like a Pell Grant is.

Students must meet some eligibility requirements including meeting the remaining Federal Pell Grant eligibility requirements except family income and must have been under 24 years old or enrolled in college at least part-time at the time of their parent’s or guardian’s death.

The grant award is equal to the amount of a maximum Federal Pell Grant for the award year, but cannot exceed the cost of attendance for that award year. For the 201819 award year , the maximum Federal Pell Grant award is $6,095.

A student must submit a Free Application for Federal Student Aid form to begin the application process. To maintain eligibility for federal student aid including this grant, students must fill out the FAFSA form each subsequent year in school.

Make sure you also pay attention to the FAFSA Deadline.

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