G.I. Bill or Loan Repayment

[Coanda29]

Hey guys,

I'm still waiting on word for whether I've been approved or not, but in the meantime I've got a question...

I have already graduated and achieved my bachelors degree, and have student loans, should I be accepted, what education incentives will I be eligible for? I have been told different things by about everyone I've spoken to. Such as; Loan repayment is a lock...I have to choose G.I. Bill or LR @ MEPS...neither is covered for WOFT, only OCS...I've heard all these and still don't have an answer. I looked in usarec regulation 601-91 for an answer, but it is outdated, and I'm not sure how relevant. So, if your in the know...fill me in.

 

Thanks!

[Dutch]

The reason you do not have a solid answer is that incentive types and amount of money changes constantly. It all depends on the needs of the Army at the exact time you are signing your contract. All the options exist but who get them and how much is a mystery to most. Most education benefits focus on future schooling, which might be beneficial to you later, but you should stress SLRP(student loan repayment program) or other type of repayment. I got slrp but it pays back only a certain amount per year so each program has its stipulations and restriction. Best of luck and keep us posted on your progress.

 

Dutch.

[USAR153D]

I got slrp but it pays back only a certain amount per year so each program has its stipulations and restriction.

 

Is the amount dependent on what you owe or just a flat max payout period?