Currently have more than 50k federal student loans. Signed contract stating 5YR + 12MONTH extension for schooling. Since it totals 6 years, will I be eligible to receive full GI benefits after SLRP pays out for the first three years? Planning for flight school in the future, so I’m leaning towards signing up for the Montgomery bill as well. Fwiw, only offered about 10k signon bonus bc my initial DEP date is prior to the new bonus message even though my leave date got rolled into the eligible months.
SLRP then 100% GI (6YR CONTRACT)
byu/Individual_Space_134 inMilitaryFinance
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Student Loan Repayment and The GI Bill
The current regulations say you cannot get the GI Bill if you sign up for the Student Loan Repayment Program. If you signed up for a five-year contract to qualify for Student Loan Repayment, you will have to reenlist for at least three more years to be eligible for the GI Bill.
d. Eligibility Criteria.
1) Must be Non-Prior Service.
2) Must contract for the RA LRP for minimum of three years (set by Public Law 99-145, Sec 671) or greater service term (duration set by Army G-1) for RA Enlisted Soldiers or the RA Cyber Command Direct Commissioning Pilot Program. In no case may the term of
service be less than 3 years.
3) **Must dis-enroll from the Montgomery GI Bill (MGIB) education benefit by completing Sections one and five; and signing Section five of DD Form 2366.**
https://www.hrc.army.mil/wcmt-api/sites/default/wcmtfiles/files/13602_0.pdf