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Military Student Loans

Finding funding to help make getting a college or university education can be difficult, especially if you can't afford to bridge the gap between the normal grants and loans that are offered and the leftover cost. However, as part of the thanks owed to the armed forces that protect and serve the country, military student loans are available to help finance college for such individuals and their families. A number of different loans can be obtained for military personnel to attend an institute of higher learning without dipping deeply into their own pocketbooks, while others are offered as an incentive to enlist new military personnel.

Many military student loans are available directly through the school to be attended. For example, West Point (the United States Military Academy) spends its resources for the training of highly educated and disciplined Army officers. It provides an incredibly balanced and impressive academic program, as well as training for the military, and student loans are one of the few ways that individuals are able to attend this prestigious academy, aside from scholarships. The United States Naval Academy operates in much the same manner, accepting only the top academic candidates and offering both scholarships and loans to make attendance at the school possible.

The Citadel is one of the most well known military colleges, and located in the Southeast United States, it provides its candidates with excellence in education through both undergraduate and graduate programs. Students can use FFELP loans toward attendance, but the college itself offers a number of alternative student loan options through lenders like Sallie Mae, College Door, Bank of America, and the South Carolina Student Loan Corporation.

The Military College Loan Repayment Program is another special offering, stimulating recruitment to any branch of the military by promising to repay a percentage of outstanding student loans for new recruits promising to enlist for either active duty or reserve duty. If you are still considering whether or not you want to join the military, enter into an ROTC program in your current college and receive loans for that course of study as you determine if you really are apt for service.

Paying for school is not easy, but we are here to help. OEDb's student finance section will help you find the money you need to pay your tuition and other college expenses. We cover scholarships, college grants, and student loans. Scholarships and grants are both forms of "free money", meaning they don't need to be paid back. Scholarships are typically awarded by businesses or individuals, with the money being earmarked specifically for tuition. They can be awarded based on a student's location or by religious affiliation, such as Catholicism or Islam. Grants are typically awarded by governments or non-profit organizations and the money often can be applied to several different expenses a student may incur, not solely tuition. They can be awarded based on location or ethnicity, for instance African American or Hispanic. Loans are not considered "free money", because unlike scholarships and grants, they do need to be paid back after graduation. Common federal loans include Perkins and Stafford. Loans are also available by location.