- If you enter military service and have an existing federal or private education loan, the Servicemember Civil Relief Act may qualify you for a reduction in your interest rate to 6 percent during qualifying military service. In addition, you may be eligible for an additional interest rate reduction if you schedule payments through automatic deduction.
- You may request to postpone payments on your federal loans while serving on active duty during a war or other military operation, and for an additional 180 days following the completion of your military service.
- You may also be able to postpone payments on non-federal, private education loans. For example, Sallie Mae offers active duty military personnel the option to defer payments during periods of eligible military duty.
Sallie Mae Honors Veterans, Offers Tips For Student Loan Repayment
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts