Question : Can you use your GI bill to pay off your prior student loans?
If I decide to joing the military. And I have a degree. But I still have to pay back my student loans. Well I be able to use my Gi bill to pay it off. Or no?
- asked by 760
All Answers:
Answer #1
No. However, some jobs in the Army--atleast--qualify for a Student Loan RepaymentPlan.
http://www.military.com/recruiting/bonus-center/resources/army-bonus-and-incentive-overview#SLRPEssentially, you give up the GI Bill in lieu ofupto $65,000 in repayment.
- answered by Deathbunny
Answer #2
NoThey have another program called "College LoanRepayment Program" - but you can't get that andthe GI BIll. (At least I don't think you can.) They will only pay off loans that are governmentbacked (ie Stafford loans).Talk to a recruiter.The CLRP is not very well known
- answered by smartypants
Answer #3
I'm not sure you get GI bill if you already have adegree, but if you do then you can use it. It'sjust a certain amount of money deposited into yourbank account. Use it any way you want. I use mineto pay for gas and books or whatever. It's yours,they don't care how you spend it.
- answered by Dylan
Answer #4
Before you join let your recruiter know you havestudent loans. I joined before college buthalfway through one of my friends saw how themilitary was paying for my school and she joinedtoo. She got a good portion of her student loanspaid for her and she got the GI Bill on top of it. I think it depends on the branch (I'm Army) andwhat you set up with your recruiter BEFORE yousign your contract. Just remember to get all yourbenefits in writing, in your contract, or themilitary isn't obligated to honor them.
- answered by Rachel S
Answer #5
no. the GI Bill can only be used to get a newdegree..and it cannot be the same level or belowwhat you currently have. so if you have a BS orBA, you can only use the GI Bill to get a Mastersor PHD. there is a separate program to getStudent Loans repaid. not everyone qualifiesthough( Officers do NOT) and not all loansqualify.
- answered by Mrsjvb
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