Does anyone know how to get private student loans repaid by the military?
I joined the Navy with a sign-on benefit of ,000 in student loan repayment. I was told at the time I joined that my Sallie Mae loans would be covered, but now they are telling me that these loans are not covered because they are private. I have about ,000 in federal loans that are going to be repaid, but I still have a very large amount of private loans. I was initially told that I could simply refinance my private loans as federal loans and they would be repaid by the Navy, but now I know that it is impossible to turn private loans into federal loans. Does anyone know of a way to get my private loans (up to ,000 minus the amount of federal loans already covered) repaid by the Navy/military?
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Tags: benefit, federal loans, mae loans, Military Loans, navy, private loans, sallie mae, student loan repaymentTags: benefit, federal loans, mae loans, navy, private loans, sallie mae, student loan repayment
My husband went through the same thing: he has sallie mae loans. When he joined the Af, he initially opted for the loan repayment bonus but he switched as BMT because someone was nice enough to tell him that his private loans will not be covered. Atleast you got $35,000 paid off already. Thats pretty darn excellent. We weren't able to find any way around it, so excellent luck with that. I've even heard that you can't file bankruptcy either. The military offers free financial counselors, so I would schedule an appointment with one and question for their advice. Maybe they can atleast help you figure out your budget to find a monthly payment to work for you.