Military Student Loans

Finding financial support to pursue a college or university education can be difficult, especially if you can't afford to bridge the gap between whatever grants and loans are offered and the leftover cost of tuition. However, as part of the thanks owed to the armed forces that protect and serve the country, special student loans are available to help pay for college for military members and their families. A number of different loans can be obtained for military personnel to attend an institution 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 your school. For example, West Point, or 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 in addition to scholarships, student loans are one of the few ways that individuals are able to attend this prestigious academy. The United States Naval Academy operates similarly, accepting only the top academic candidates and offering scholarships and loans to make attendance at the school possible.

The Citadel is also one of the most well-known military colleges. Located in the Southeast United States, Citadel provides its candidates with excellence in education through undergraduate and graduate programs. Students can use loans from the Federal Family Education Loan Program toward attendance, but the college itself offers a number of alternative student loan options through several private lenders. 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 who agree to enlist for active or reserve duty. If you are still considering whether to join the military, you can consider entering an ROTC program at your current college where you can receive loans 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.