Loan Repayment Program Advice

Discussion in 'Special Operations Discussion' started by Dienekes, May 10, 2017.

  1. Dienekes

    Dienekes Member

    Messages:
    257
    When I begin the enlistment process in the next few months for 18X, I intend enlist under a 6-year contract to accept the Loan Repayment Program (LRP) enlistment incentive (if it is available) and the Post 9/11 GI Bill. The first 3 years covers the LRP and the GI Bill is covered in the last 3 years. This is only doable by waiving the Montgomery GI Bill, confirmed by local Army recruiter. The LRP covers all federal student loans which is great, but there is a section of the LRP that covers
    However

    I am going to take out a non-federal student loan to complete my studies this summer, and I would obviously like it to be covered under the LRP, but I don't speak Army yet and this is as far as I could get from the HRC page. My question is: Does anyone have any experience with this or advice on how to proceed so that I get a loan from a qualified lender?
     
  2. Il Duce

    Il Duce Intel Enabler Verified SOF

    Messages:
    659
    SSMP:
    Military Mentor
    PM me if you want. I've got a friend who enlisted with OCS guaranteed, did 4 years and got out (went to Fordham and got a JD after). He got about 190k of student loans paid off, plus got help with law school (I'm not sure if it was GI Bill or not).

    Happy to link you guys up.

    The unimportant backstory:

    It was one of those cases I was afraid I had given him terrible advice for a little while - but it worked out. I did my last semester of graduate school at the American University in Cairo - and he was a fellow student there. He was in his last semester of graduate school - but had done the entirety of his MA at AUC. He had done 3 years of his undergrad at a university in Italy (I think Furman was his starting school in the US). So, the dude spoke Italian and Arabic very well - and had a killer education. But, he had around 200k in student loans.

    We talked about the Army and loan repayment help. He moved to NYC after graduation and had a very good job with a consulting firm - but even at 80k a year with living expenses he wasn't making a dent in his debt. I recommended enlisting with OCS guaranteed - which you can do with a 4-year degree. I warned him though - if you get hurt in basic or get in trouble you can go needs of the Army and you may not like being a SPC. He was all rah-rah to be a Ranger so after some back-and-forth with a recruiter who was giving him some bullshit (luckily it wasn't hard for me to get with my unit retention NCO and get the correct information) he signed up.

    2/3s of the way through basic training he breaks his arm. Everything is up in the air. I thought this dude was screwed - his OCS date was scrapped and he was a medical hold in basic. Fortunately his drill sergeant's liked him and he spent about 6 months being their runner doing shit around post. He healed up, they helped him secure an OCS date, he graduated basic and moved straight over and made it through OCS without a problem. He chose Armor branch, went to a BCT in 1CAV, deployed as the PSD PL to Iraq (where his Arabic came in handy), redeployed to the end of his commitment and got out.
     
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  3. Dienekes

    Dienekes Member

    Messages:
    257
    Called HRC and they directed me back to the recruiter. I was passed on to the next level higher, and the recruiter confirmed that any legitimate student loan, as in not defined as private/personal, is eligible for the LRP. If you are unsure about which, the loans classified 'student' usually have a grace period of 6 months after graduation.
     

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