Serving in the military has many advantages, and one of the most often overlooked is the abundance student loan forgiveness programs offered by all branches of the armed forces.

There are loan repayment and loan forgiveness programs available to miitary personnel serving in the Army, Navy, Air Force, Marine Corps and in the Coast Guard, as well as Reservists called up to active duty during wartime. Loan forgiveness programs for both enlisted personnel and officers are available from the federal government.

Whether you are active duty or reserve, this web site can help you if you are (1) seeking loan repayment options, (2) looking for information on loan forgiveness programs the military offers servicemembers, and (3) searching for programs to erase college student loans during your time in service.

Under these military student loan forgiveness programs, you get an opportunity to see the world and defend your country, and in return, the federal government will often help repay the loans you took out to go to college.

There are many programs, and as is the case with everything connected with the military, each opportunity usually is tempered by multiple restrictions. But these student loan forgiveness programs are well worth your time to hunt them down online and to apply for them to help gain forgiveness of your college loans.

The military's Student Loan Repayment Program (SLRP) is one such program. Under the Student Loan Repayment Program, when you enlist the Army will pay back up to $65,000 in qualified education loans (up to $20,000 for reservists), the Navy up to $65,000 and the Air Force up to $10,000. Each year 15% of the loan balance or $500, whichever is greater, will be repaid by SLRP.

There may also be annual and cumulative caps on the amount repaid. Participants must score 50 or higher on the Armed Forces Qualifications Test (AFQT). SLRP must be requested at the time of enlistment or reenlistment. Qualified education loans include federal education loans such as the Perkins, Stafford, PLUS, or Consolidation loans, but not private alternative loans.

Restrictions: Defaulted loans are not eligible.

Tasability: Payments made under the SLRP are considered taxable income.

For more information on military loan repayment and loan forgiveness programs online, check out:
Army: www.goarmy.com (1-800-USA-ARMY)
Navy: www.navy.com (1-800-USA-NAVY)
Air Force: www.airforce.com (1-800-423-USAF)
Marines: www.marines.com (1-800-MARINES)
Coast Guard: www.gocoastguard.com (1-877-NOW-USCG)
US Merchant Marine: www.usmma.edu (1-866-546-4778)
Air National Guard: www.ang.af.mil (1-800-TO-GO-ANG)
Army National Guard: www.1800goguard.com or www.arng.army.mil (1-800-GO-GUARD)
Army Reserve: www.goarmyreserve.com or www.army.mil/usar
Air Force Reserve: www.afreserve.com
Marine Forces Reserve: www.marforres.usmc.mil
Naval Reserve Force: www.navres.navy.mil/navresfor
Coast Guard Reserve: www.uscg.mil/hq/reserve/reshmpg.html

Student Loan Relief for Active Duty Military Personnel: On August 18, 2003 , President Bush signed the Higher Education Relief Opportunities for Students Act (HEROES), legislation authored by Rep. John Kline (R-MN) that allows the U.S. Secretary of Education to excuse military personnel from their federal student loan obligations while they are on active duty.

For more general information about student loan discharge, contact the Direct Loan Servicing Center at 1-800-848-0979 if you have a Direct Loan. Contact the lender or agency that holds your loan if you have a FFEL. If you borrowed using a Federal Perkins Loan, contact that particular school which made the loan.

The following information is found on the Federal Student Aid website: http://www.fsahelp.ed.gov/cancellation.html.

For more information on other types of student loan forgiveness programs, read our updated web page on how to find student loan forgiveness programs.