Military Benefits
If you’re serving in the military, there are student benefits available to you.
Deferment
Military personnel can request deferments to postpone their loan payments while on qualified active duty, as well as defer their loans for 180 days or possibly up to 13 months after demobilization. Those on active duty are eligible to receive deferments for all Title IV loans for the total amount of time you are on qualified active duty. The military service deferment application (pdf, 93 KB) is available on our website. If you are seeking more information regarding this type of deferment, the government’s Federal Student Aid website provides extensive information.
Repayment Benefits
Upon written request, service members on qualified active duty are able to receive a 6% cap on FFELP loan interest rates whether the loan is in good standing or default. For more information, contact your lender/servicer or American Student Assistance® (ASA), as appropriate.
Additionally, under the Higher Education Opportunity Act, certain service members with 1 or more FFELP loans may consolidate them into a Direct Loan to receive an interest rate of 0% during periods of qualified active duty.
Also, under new law, if the United States Department of Veteran Affairs declares that a service member is totally and permanently disabled, his or her FFELP loans will be discharged without needing further medical evidence.
Educational Assistance Programs for Veterans
If you are just beginning to think about furthering your education, you may want to visit the United States Department of Veteran Affairs website to learn about the GI Bill. The GI Bill includes education assistance programs administered by the Department of Veteran Affairs that provide benefits to veterans, service members, and some dependents of disabled or deceased veterans wishing to pursue an education. You can also call 888.GI.Bill.1 (888.442.4551) to speak to a veterans benefit counselor.
Questions?
Most active duty is considered qualified active duty. If you have questions about whether your service qualifies, contact ASA.
