Education benefits for Guard and Reserve members - Military Education & G.I. Bill Information - Military Times

Education benefits for Guard and Reserve members

Student Loan Repayment Programs

Reservists who enlist or re-enlist for a specified term of service in the Selected Reserve can get help in repaying outstanding student loans taken out after Oct. 1, 1975. For each “good year” of service in the Selected Reserve, the government will repay 33 percent of the principal, or up to $1,500, whichever is greater. Qualifying loans include:

• Stafford Loan Program

• Federal Insured Student Loans

• Perkins Loan

• Auxiliary Loans to Assist Students

• Supplemental Loans for Students

• Consolidated Loan Program

• William D. Ford Direct Loans

Entitlement ends if the member:

• Completes the term of service.

• Is reclassified into an ineligible skill.

• Fails to attend drills or perform required duties.

• Accepts a permanent civilian job where being in a reserve component is required for the job.

• Transfers out of, or is discharged from, the Selected Reserve.