USAR153D Posted September 22, 2009 Report Share Posted September 22, 2009 What would qualify your student loan to be payed off if you waive the GI BILL? I've seen mention of certain loans not being "eligible" etc. Cliff Quote Link to comment Share on other sites More sharing options...
wopilot Posted September 22, 2009 Report Share Posted September 22, 2009 I think it has to be an "education" loan of some sort. It can't be a personal loan you used to pay education. Don't quote me, but I thought I read that somewhere. Quote Link to comment Share on other sites More sharing options...
USAR153D Posted September 24, 2009 Author Report Share Posted September 24, 2009 Ok, I figured it had to be an "official" government student loan. I have used Direct Loans the whole time because they have the lowest payment requirement after 6 months out of school. Quote Link to comment Share on other sites More sharing options...
wopilot Posted September 24, 2009 Report Share Posted September 24, 2009 I don't think it has to a government loan, there are Alternative Education Loans and such that aren't gov subsidized, and I think those count. Quote Link to comment Share on other sites More sharing options...
NorCalHeliKid Posted September 24, 2009 Report Share Posted September 24, 2009 This is straight from an Army Document regarding LRP (Loan Repayment Program)Listed below are the only loans that qualify for LRP. Your loan must be made(insured) and or guaranteed under Title IV, part B (Federal Family Education Loan Program), Part D (William D. Ford Direct Loan Program) or Part E, (Federal Perkins Loan) of the Higher Education Act of 1965. -Auxiliary Loan Assistance for Students-Federally insured student loans-Guaranteed Student Loans or Stafford Loans-National Direct Student Loan or Perkin Loan-Supplemental Loan for Students-Consolidated Loans (those that qualify for LRP and are in the students name)-Parent Loan for Undergrad Students (PLUS)incurred for use of individual contracting for LRP Any Loan incurred for Educational purpose made by a lender that is: -An agency or instrument of the state-A financial or credit institution that is subject to examination and supervision by an agency of the United States or any state-From a pension fund or a non-profit entity subject for case-by-case review/approval by HQ DA EICB Contact Info: Toll Free 1-800-872-8272 (703) 325-0285 I don't think it has to a government loan, there are Alternative Education Loans and such that aren't gov subsidized, and I think those count. Quote Link to comment Share on other sites More sharing options...
USAR153D Posted September 25, 2009 Author Report Share Posted September 25, 2009 This is straight from an Army Document regarding LRP (Loan Repayment Program)Listed below are the only loans that qualify for LRP. Your loan must be made(insured) and or guaranteed under Title IV, part B (Federal Family Education Loan Program), Part D (William D. Ford Direct Loan Program) or Part E, (Federal Perkins Loan) of the Higher Education Act of 1965. -Auxiliary Loan Assistance for Students-Federally insured student loans-Guaranteed Student Loans or Stafford Loans-National Direct Student Loan or Perkin Loan-Supplemental Loan for Students-Consolidated Loans (those that qualify for LRP and are in the students name)-Parent Loan for Undergrad Students (PLUS)incurred for use of individual contracting for LRP Any Loan incurred for Educational purpose made by a lender that is: -An agency or instrument of the state-A financial or credit institution that is subject to examination and supervision by an agency of the United States or any state-From a pension fund or a non-profit entity subject for case-by-case review/approval by HQ DA EICB Contact Info: Toll Free 1-800-872-8272 (703) 325-0285Thanks for the info! William D Ford Direct Loans are the only loans I have ever taken. I'll make sure to keep it that way! Quote Link to comment Share on other sites More sharing options...
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