Student Loan Repayment Option

Student Loan Repayment Option

The Student Loan Repayment Program (SLRP) is a benefit that can help you pay off your student loan debt. It is available to active duty service members and mobilization Soldiers who agree to serve an additional obligation of four years in the Army. In most cases, SLRP will pay up to 33 1/3% of your outstanding student loan balance per year with a maximum benefit of $65,000 over a three-year period (if eligible). SLRP awards are taxable income.

The federal student loan repayment program permits agencies to repay Federal Perkins Loans, Direct Loans, and FFEL Program loans as a recruitment or retention incentive for candidates or current employees of the agency.

The Federal Student Loan Repayment Program permits agencies to repay Federal Perkins Loans, Direct Loans, and FFEL Program loans as a recruitment or retention incentive for candidates or current employees of the agency.

The program is an alternative to the repayment of student loans under the income-based repayment plan, and can reduce monthly loan payments by up to 50%.

Under this program, eligible employees must make monthly payments on their student loans through automatic withdrawals from their paychecks. The repayment period is 10 years (120 months) but may be extended at any time during this period if your total monthly debt exceeds $50 per month. In addition, interest accrues on all outstanding balances during periods when you are not making payments through this program.

Student Loan Repayment Program (SLRP) is a benefit that can help you pay off your student loan debt.

The Student Loan Repayment Program (SLRP) is a benefit that can help you pay off your student loan debt. SLRP is available to active duty service members and mobilization Soldiers who agree to serve an additional obligation of four years in the Army.

The SLRP benefit pays up to $65,000 toward outstanding principal and interest on qualified Federal loans taken out by eligible servicemembers. The repayment period may not exceed 30 years from the date of completion of your initial contract.

It is available to active duty service members and mobilization Soldiers who agree to serve an additional obligation of four years in the Army.

SLRP is available to active duty service members and mobilization Soldiers who agree to serve an additional obligation of four years in the Army. SLRP is not available to Soldiers who have received an initial appointment as a warrant officer.

In most cases, SLRP will pay up to 33 1/3% of your outstanding student loan balance per year with a maximum benefit of $65,000 over a three-year period (if eligible).

In most cases, SLRP will pay up to 33 1/3% of your outstanding student loan balance per year with a maximum benefit of $65,000 over a three-year period (if eligible). The payment amount is based on your income and family size.

SLRP may not be used for all of the following types of loans:

  • Parent PLUS Loans made before July 1, 2014
  • Federal Stafford Loans that were converted to Grad PLUS Loans or Consolidation Loans through consolidation in the Direct Loan program
  • Perkins loans (including those received from an employer)
  • Nursing faculty member education loans

In addition, if you have already received payments through the Teacher Loan Forgiveness Program or any other type of forgiveness program and qualify for SLRP, those payments will be factored into your SLRP payment amount.

SLRP awards are taxable income.

If you received an SLRP award, it will be reported as taxable income on your T4. You will receive a letter from the government indicating how much you were awarded, and in what form (i.e., cash or scholarship). The amount is typically included as part of your total employment income on Line 101 of your personal tax return.

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The Student Loan Repayment Program is a great way to repay your college loans while serving in the Army. It’s simple: you complete your basic training, then sign up for the SLRP and serve an additional four years of active duty service. After that, we’ll pay up to 33 1/3% of your outstanding student loan balance per year with a maximum benefit of $65,000 over a three-year period (if eligible).

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