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Student Loans

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meb6385

Registered User
There was a post a while back about student loans being deferred during active duty. It was some kind of military appreciation as a result of 9-11. Does anyone know where the post is or anything about it?

Mike
 
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outsider

Registered User
I am a relative of a current OCS candidate. Students loan PRINCIPAL can be deferred, but not interest. This has always been the case with active duty military. If you have the usual $18K (max allowed)in undergrad Stafford loans, the interest is about half of you monthly payment of just under $200. If you have several different Staffords, you can do a combo refi of them and get the interest rate down a bit --locked in--over a 15 year term instead of 10, but who wants to be paying for undergrad when you're 37?

Wouldn't it be nice if there were loan forgiveness of , say, 10% a yearfor active duty military as there is for those who bevcome teachers in "depressed areas."
 
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kmc9280

Registered User
If you can, caonsolidate now. I had 15,000 in loans and I just consolidated at a 3.5% interest rate. It will go down .25% if I choose automatic debit payments and another 1% if I have 36 on timne payments for a possible rate of about 2.25%. You can choose 5, 10 or 15 yr. terms with no early repayment penalty. Not bad, huh. Just a tidbit.

Kevin
 
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