Are you thinking of joining the military after college you’ll apply as a military officer? These are professionals who enlist after graduation. They come from different professions, namely law, aviation, health care, and engineering, among others. They mostly manage and provide the military with the necessary personnel needed during missions. Let us discuss, Can You Join The Military With Student Loan Debt?
Interestingly, there is a separate program for students willing to join the military and in debt. College Loan Repayment Program (CLRP) is the program made available for those students who have acquired student loan debt.
Basic requirements
- Have a bachelor’s degree
- Meet the required mental fitness levels
- Meet the physical fitness levels
You’ll, however, need to fit in the required age group, have the necessary test scores and undergo an officer training program.
You’ll also need to identify a branch of the service you must qualify regarding what you studied. For example, pilots will mostly be eligible for the air force since they need the essential training.
Ways you can enlist in the military as a student officer.
- By joining military service academies each branch of the military has its academy the army has west point, the navy has the US naval academy, the air force has the US air force academy, the US merchant marine academy for marines, and finally the US coast guard academy.
These schools have tailor-made programs that focus on the respective branch. Joining such a school you can either choose to let the government pay for your school fees and supplies in exchange for service usually up to 5 years in active duty after graduation or pay the school fees as you study by raising the funds by yourself, you’ll not be mandated to commit to service after graduation.
- After completion of a 4-year degree, a graduate can enroll in an officer training program. In such programs, the focus is on military subjects, physical training, and leadership skills. The program duration varies but typically lasts between 9-14 weeks.
- Joining an ROTC program. The reserve officers’ training corps programs are mixed in the classroom and fieldwork upon completion of the graduate is commissioned. Each branch of the military has its ROTC program
Advantages of joining the military after college
- You’ll get a job straight out of college. The military provides employment opportunities to graduates without experience in the different professions they come from.
- The military gives new challenges, especially during missions these challenges give rise to changes and modifications especially in technology and technical skills under pressure with very little time.
- If you do decide to retire from the military experience you gained can be used in future employment opportunities. It can give you an upper hand because of the virtues and structure associated with the military
- You can also decide to use the knowledge gained and venture into security consultancy creating entrepreneurial opportunities not just for yourself but for other law enforcers and veterans
- Medics who decide to take a back seat from active duty can decide to work in hospitals that provide services to veterans and activities officers. Creating a safe space for those injured in the line of work and looking for rehabilitation.
- Serving in the military gives you a sense of honor in serving your country and helping others beyond yourself
- Individuals that have had successful careers in the military have ventured into active politics and become Presidents, senators, and governors the military has the necessary skills and platform to network and launch their political careers.
- Military personnel and their families receive immediate benefits such as healthcare benefits extended after retirement.
- The skills acquired are necessary and beneficial even after your years in the service and apply day to day life
Let’s focus more on college loan repayment after joining the military. You have several options that can help you through this, loan repayment is however paid under the terms and conditions stipulated by the lender when the loan was taken
- If took the loan before joining the military the SCRA gives a 6% reduction to officers while on active duty it can also be used to finance house mortgages and car loans.
- The college loan repayment program can also be an option it however does not cover the interest accrued. Each branch has its College loan repayment program and the marine do not have this program.
- You can also enlist for the loan forgiveness program available. You’ll however need to commit 6 years into active duty.
- For individuals who have spent a year in areas of active fire hostility quality for the government’s national defense student discharge program
- Military personnel can apply for the loan forgiveness program. It can however take longer to receive the money since it applies to civil workers like doctors.
- Veterans and officers who have been injured while on active duty and have a permanent disability receive loan forgiveness for federal debt.
- Without forgetting you can always pay these loans with deductions from your salary just remember to take advantage of benefits that have been given to servants such as military officers that give discounts on the amount to be paid back
Eligibility criteria for loan repayment programs
- Have existing college debt.
- Must be willing to commit to serving for some time if needed.
- Prof of injury or permanent disability.
Financial tips
- Learn and educate yourself about investment opportunities. Being in the military ensures that you have a steady paycheck and look for investment opportunities that help you grow the money you save.
- Learn how to save for your life out of the service and life while you are in transition. Having the financial discipline to know when to spend and what to ignore makes sure you get the most out of your time in the service
- Make sure you get housing, health care, and education plans for yourself and the family around you. If dismissed from active duty because of injury, permanent disability, or death your family is sorted and they don’t have to struggle financially after. Put your priorities in check
- Network outside of the military and learn about professional opportunities outside the military this is to give you a picture of employment, salaries and remunerations, and key industry players.
