Student Loans for Military Personal
While numerous educational benefits are provided as incentives for members of the nation’s military, many
military members find that they need additional funding in order to complete the individual degree programs that
interest them. In these cases, individuals may need to take advantage of numerous student loans for military
programs. Several loan corporations gladly make loans to individuals who are currently serving in the US military.
While these loans are generally not as large as loans offered through federal student loan programs, they can help
to bridge gaps at times when funds are short; such as between student loan disbursements. These loans can also be
used for other expenses, such as living expenses. In order to qualify for such a loan, applicants will generally
need to meet the following eligibility criteria:
- Be able to pay the loan back over a period of 12 months
- Be currently serving on full-time active duty in a branch of the US military
- Have at least 18 months of remaining in tour of duty
There are several benefits to taking advantage of such a loan including the fact that these loans can be applied
for from any location around the world, making them great for military personnel who are currently stationed
overseas but who are pursuing educational interests at the same time. In addition, the proceeds of these loans can
generally be received within a very short amount of time. In some cases the loan disbursement can be received in as
little as 24 hours time. Loan information is kept strictly confidential, so that senior officers never even need to
know about it. Finally, in most cases; no credit check or credit insurance are required.
The amount of the loan tends to vary but in most cases, applicants can qualify for between $1000 and $3000 in
funds from student loans for military personnel. As with any other type of loan, applicants should be sure
to investigate the interest rate offered and all repayment terms before agreeing to loan.
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