Through the Navy Student Loan Repayment Program, applicants who are in the Navy may be able to sail away from their student loan debt. In total, the Nacy could repay your student loans by up to $65,000 over your term of active duty. If you are in the Navy this is a great program to check out and utilize towards paying off your student loans. Read on to see eligibility requirements and further breakdown of this program’s award amounts.
In order to be eligible for the Navy Student Loan Repayment Program, you must meet the following criteria in order to be eligible for this program:
- This program is specifically designed for active-duty Sailors in the first three years of service.
What is the award amount?
Through the Navy Student Loan Repayment Program, you may be eligible to receive up to $1,500 for your first, second, and third year of active duty within the Navy. This loan repayment program must be approved by the Navy. In total, the Navy may pay up to $65,000 towards eligible loan repayments that they approve.
What loans qualify?
The following loans qualify for the Navy Student Loan Repayment Program:
• Stafford Loans
• Federal PLUS Loans
• Consolidation Loans
• Perkins Loans
How to apply?
To apply for the Navy Student Loan Repayment Program, head over to the official website to find out more regarding additional program information and see when the best time to apply for this program is. You can also find out more about this program by contacting the Navy Recruiting Command officer.