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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

I’m looking for any assistance or available programs that would help me pay off my student loans. I’m an RN and Army veteran. I have already used the GI Bill, and I’m over the age limit to enlist in the reserves or National Guard. Thanks. – Michael

Answer:

It sounds as if you’ve taken advantage of the excellent education benefits that come with military service! We’re not aware of any programs that would pay off your loans. Although, the College Cost Reduction and Access Act of 2007 does allow certain Federal Direct Loans to be forgiven for those working in nursing or other public service type occupations after 10 years of payments. To qualify and benefit from this program, you’d have to be in the income based or contingent repayment plans. Here’s a link to a document that outlines the program. http://studentaid.ed.gov/students/attachments/siteresources/LoanForgiven...