EANGUS just released another legislative initiative …
The Army National Guard has halted Student Loan Repayment. Due to “unforeseen funding issues,” the Army National Guard has ceased paying soldiers for student loan debt. The funding issue is currently isolated within the Student Loan Repayment Program (SLRP). It’s unclear whether the service component has notified the more expansive force about the payment holdups.
The Federal student loan repayment program permits agencies to repay federally insured student loans as a recruitment or retention incentive. The average student loan debt for a college graduate in the United States is $30,000. This can be a significant financial burden, especially for young servicemembers starting their careers.
The Army National Guard offers several student loan repayment programs to help servicemembers repay their debt. These programs can provide a significant amount of financial assistance, which can help servicemembers improve their financial security and achieve their financial goals.
In addition to the financial benefits, student loan repayment programs can provide other benefits to servicemembers. For example, they can help servicemembers build their credit history, making it easier to qualify for loans and other forms of credit in the future. They can also help servicemembers demonstrate their commitment to their education, which can be helpful for career advancement.
Overall, student loan repayment can be an essential benefit for servicemembers in the Army National Guard. It can help Servicemembers reduce their financial burden, improve their financial security, and achieve their financial goals.
The following are some of the student loan repayment programs offered by the Army National Guard:
- Student Loan Repayment Program (SLRP): This program allows servicemembers to repay up to $50,000 of their student loans over up to 10 years.
- Health Professions Loan Repayment Program (HPLRP): This program provides loan repayment assistance to healthcare professionals in the Army National Guard.
- Teacher Loan Repayment Program (Teach for America): This program provides loan repayment assistance to teachers who serve in Teach for America.
To be eligible for these programs, servicemembers must meet specific requirements, such as having a certain amount of student loan debt, serving in a particular military occupational specialty, and meeting specific performance standards.
Suppose you are a servicemember in the Army National Guard depending on student loan repayment, and that payment was stopped. In that case, I encourage you to contact your Congressional Representatives and inform them of this issue by clicking the provided link.
If you have further questions regarding SLRP payment Halts, please do not hesitate to contact Kevin Hollinger at kevin@eangus.org or contact him direct at (202) 670-1826.
For a list of all current EANGUS legislative actions, go to: