Student Loan Repayment FAQs by blackrobert

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									                             Student Loan Repayment FAQs

1)    Can a student who currently does not have any student loans take one out now and
then apply for SLRP?

A: Yes they can, but SLRP is not guaranteed. Students are not offered the SLRP until
after they have accessed onto Active Duty, so you must ensure they understand that if
they are assessed Reserve Duty from the OML, they do not qualify for the SLRP.

Once they have signed an agreement, no additional loans will be added to the loan
repayment.

2) What is the deadline for requesting this option?

A: There is no deadline for requesting the option up until they commission.

3) Is the cadet paid or the institution providing the loan?

A: DFAS pays the loan holder.

4) Is the Student Loan Repayment Program taxable?

A: Yes, DFAS will provide a W-2 at tax year end for payments authorized under the
SLRP.

5) Is there a list of approved loans or lending institutions?

A: There is no list of approved loans or lending institutions. If the loan appears to meet
the criteria of the SLRP, submit it and the approval authority will make the
determination.

6) Will cadets be reimbursed for parts of loans they have already paid?

A: No only the unpaid balance of a loan is eligible for the SLRP.

7) When will a student know if they are eligible for the SLRP?

A: After they are accessed, normally in the fall of their senior year; if accessed Active
Duty then they will be eligible.

8)     Is my Active Duty Service Obligation (ADSO) served consecutively or
concurrently?

A: ADSO associated with SLRP is served consecutively with statutory obligation. Non
Scholarship Cadet has a three year obligation and Scholarship Cadet has 4 year obligation
by statute; thus obligation would increase by 1, 2 or 3 years depending on Loan
Repayment amount.

								
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