Other Student Loan Aids
Some private organizations offer to help veterans pay their loans. Some may provide aid in the form a huge one-time payment. Others may provide student loan repayment plans.
RELATED: Student Loan Forgiveness for Military
Student loan forgiveness for veterans is the least we can do for our countrymen who sacrifice their lives for us. It also encourages the next generation to serve their country through the military.
Theres no better way to show thanks to our veterans than the continuous support for student loan forgiveness for them.
Sorry We Didnt Find Any Options That Meet Your Requirements Try Changing Your Loan Amount
4. Loan modification. VA loan modification is when a lender changes the terms of your loan in order to avoid foreclosure. The delinquent payments are rolled into a new balance, and a new payment schedule is enacted.
5. Short sale. If youre able to convince a lender to sell your home for less than whats required to pay off the loan, the lender typically receives some money from the VA to offset the loss.
Other options like debt settlement, which is when you work with a settlement company and negotiate with your creditors to pay a lower percentage of your debt, or filing bankruptcy, are additional debt relief options but should be considered as a last resort. They often take years, and incur penalties. Plus interest and fees can add up, and they can do massive damage to your credit score and report.
Veterans may have an easier time settling debts with veteran-specific credit cards including:
- Chase military credit cards
- Visa Veteran Tickets credit cards
- Navy Federal Credit Union credit cards
- Air Force Federal Credit Union credit cards
If you have VA benefit debt , you may have additional options including:
If you need more time to pay off your debt, you can contact the VA Debt Management Center to set up a repayment plan or adjust your current repayment plan. They may even help you lower the amount of your monthly payments.
Other organizations you can contact for debt relief assistance include:
- The American Legion
- Disabled American Veterans
Department Of Defense Student Loan Repayment Program
In certain circumstances, as determined by the Department of Defense , all or a portion of your student loans may be repaid.
If you qualify for the DOD Student Loan Repayment Program, you may also be eligible to postpone your payments by requesting a military-related mandatory forbearance.
Navient does not administer the DOD Student Loan Repayment Program. For more information about this program and how to apply, consult your branch of service personnel, benefits, or education coordinator.
to submit a request.
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How To Qualify For Pslf
In general, to qualify for Public Service Loan Forgiveness, you must:
- Work full-time for the federal government, a state or local government, or a qualifying nonprofit.
- Hold federal Direct Loans .
- Repay your loans with an income-driven repayment plan.
- Make 120 qualifying monthly payments.
Qualifying monthly payments must meet certain criteria. Payments must be made:
- After Oct. 1, 2007.
- Under an income-driven repayment plan.
- For the full amount due.
- No later than 15 days after the due date.
- While you work full-time for a qualifying employer.
Under rules adopted during the COVID-19 pandemic, you may be able to receive credit for payments that dont normally qualify toward Public Service Loan Forgiveness. You can potentially receive credit for some late payments, payments less than the amount due, or payments made under different repayment plans. You can determine if you qualify under the new rules by using the Federal Student Aid websites PSLF Help Tool.
General Requirements For Public Service Loan Forgiveness

Before you learn about the changes, you need to know about the general requirements for PSLF that remain unchanged. In general, PSLF means you can get your federal student loans forgiven if you:
- Make a total of 120 months of payments
- Are or were employed by the government, the military or a not-for-profit organization that provides a qualifying public service
- Work full time and
- Have direct loans or consolidate other federal loans into a Direct Consolidation Loan.
If you made more than 120 payments on an existing direct loan, you overpaid. You should automatically receive a refund from the Department of Education for the payments you made in excess.
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% Interest On Active Duty
Your federal student loans could qualify for a 0% interest rate during your deployment. Youll need to have been deployed to an area of hostility and received special pay in order to qualify. Note that this benefit only applies to Direct Loans or the portion of a Direct Consolidation Loan that was used to repay loans that were taken out on or after October 1, 2008.
The 0% interest rate is available for as many months as you serve in an area of hostile fire, up to a maximum of 60 months. Once again, the 0% interest rate can be applied retroactively. Even if youre no longer serving in a hostile area, its not too late for you to apply for this benefit.
Note that many private lenders offer active duty military deferment as well. If you have private student loans, its worth checking with your lender to see if this one of the benefits they provide.
Note that thanks to the Heroes Act waiver, active duty service members also arent required to submit an annual employment certification form for income-driven repayment plans. So even if your income goes up, your monthly payments can stay the same until youve finished your deployment.
Who Is Eligible For Loan Forgiveness
There are four main requirements to take advantage of the PSLF and erase your student loan debt:
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Debt Relief For Disabled Veterans
If youre totally and permanently disabled, you may qualify for Total and Permanent Disability Discharge of your federal student loans. This program relieves you from having to repay:
- A William D. Ford Federal Direct Loan Program loan
- A Federal Family Education Loan Program loan
- A Federal Perkins Loan
It also relieves you from having to complete a TEACH Grant service obligation.
To qualify, you must provide documentation from either the VA, Social Security Administration, or a physician. Depending on who submits the documentation, there are different requirements to support your eligibility. To apply, you must complete a TPD discharge application and send it, along with required documentation, to Nelnet .
Public Service Loan Forgiveness For Military Veterans
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Military service members who served on active duty any time after Oct. 1, 2007, can get credit towards the Public Service Loan Forgiveness, but theyll need 120 qualifying payments and Direct Loans before their debt is forgiven.
The Public Service Loan Forgiveness Program was created to encourage students to forego more lucrative careers in favor of potentially low-paying careers such as teaching, firefighting, or military service that benefit our society. It wipes out the remaining balance owed on your federal Direct Loans after youve worked full-time for the government or nonprofit organization and made 10 years worth of payments, for 120 qualifying payments, under an income-driven repayment plan.
The PSLF Program is open to all military service members and veterans who served on active duty anytime after Oct. 1, 2007 in some cases, even if they never applied for relief. Members of the Reserves and National Guard may also be eligible for periods of full-time service. More on that is below.
You can use the PSLF Help Tool on the Federal Student Aid website, StudentAid.gov, to check your eligibility based on the types of loans you have and your employer.
Keep reading to learn more about PSLF for military service.
Related: Military Student Loan Forgiveness
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Military Student Loan Repayment Assistance Programs
Even if you do not qualify for full or partial discharge of your student loans due to your military service, there are a number of programs that can help you with repayment.
Repayment assistance can lower your monthly payment, decrease the total amount you repay over time, or offer some forgiveness after a certain length of time.
Some Veterans Are Getting Their Loans Canceled But Others Report Being Mired In Red Tape
Jodie Parks works full time as an occupational therapist at a Michigan state psychiatric hospital. But since October, she has had a second job: spending four hours a week, she estimates, making calls and chasing down paperwork to prove that she previously served in the military.
She needs that proof to have her student loans forgiven under the federal governments Public Service Loan Forgiveness program, created by a 2007 law that pledged to erase students debt if they took lower-paying but critical jobs with nonprofits and the government.
Its a promise that, for most borrowers, has yet to pay off. Less than 2 percent of applicants were approved between 2017, when the first borrowers became eligible, and the onset of the coronavirus pandemic. And among the huge number of applications denied or lost in the bureaucracy were many from Americans who perform perhaps the ultimate public service: joining the armed forces.
Im another veteran whos been told that theres a service for veterans, and then when you try to get through the red tape, its too hard, said Parks, who was in the Air Force from 2009 to 2015 and then earned a degree in occupational therapy. So you just kind of give up.
Thousands of dollars are in play. About half the active-duty service members who have federal student loans have balances of more than $13,000, according to the GAO.
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Debt Relief For Veterans
About Caitlyn
Caitlyn is a freelance writer from the Cincinnati area with clients ranging from digital marketing agencies, insurance/finance companies, and healthcare organizations to travel and technology blogs. She loves reading, traveling, and campingand hanging with her dogs Coco and Hamilton.
At a Glance
According to the 2020 Military Financial Readiness Survey, 35% of service members said they do not pay their bills on time, 54% said they are just getting by financially, and 86% said they worry about their finances.
Only 33% of veterans with personal debt are very confident they can pay off their loans.
If youre trying to pay off debt, it can feel overwhelming. However, if youre a veteran, there are options available to you that may not be available to civilians and can help you pay off your debts faster.
In this article, learn more about:
Common Issues With Applications

According to the Student Borrower Protection Center, these are common issues you should avoid with your application:
- When you consolidate your loan, you should receive credit for your past payments. Some applicants are receiving letters with erroneous information not counting past payments. Ignore this you should soon receive a new letter.
- Dont submit messy paperwork, like forms containing cross-outs and handwritten notes. Your application may be rejected.
- If you experience any issues with the application process, you can file a complaint.
- Beware of scams. You do not need to pay a third-party private company to apply for the PSLF.
- Forbearance and deferment dont count under the PSLF waiver you must be in a repayment plan.
- If you are claiming time for the PSLF under different employers, multiple forms are required. Also, if you ended employment and then restarted later with the same employer, you need to submit multiple forms.
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Thank You For Your Service Link
As Americas servicemen and servicewomen, youve always been there for us when we needed you. The Department of Education and your student loan servicers appreciate the sacrifices you make for our country and we want to be there for you, too. Our teams of dedicated customer care representatives can help you access benefits available on your loans, review repayment options, and help you create a plan to manage your student loans while you are far from home.
Gi Bill For Dependents
If you earn GI Bill benefits and dont use them, you can transfer your benefits to an eligible dependent child or your spouse. To transfer benefits, you must have completed at least six years of service and committed to four more years of service.
Additionally, your spouse or dependent must enroll in the Defense Enrollment Eligibility Reporting System .
Learn more
Your next step should be to complete the Free Application for Federal Student Aid .
With the FAFSA, you can apply for federal student aid, including grants and federal student loans. Unlike student loans, grants for college dont need to be paid back.
Some grants available for military veterans include:
Scholarships are another option that dont have to be repaid and scholarships are available for just about any kind of student.
Some scholarships are need-based, while others might require that you work for a specific employer, belong to a certain racial or ethnic group, or meet other criteria.
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Disabled Veterans Student Loan Debt Statistics
Disabled Veterans Student Loan Debt Statistics
According tothe Department of Veterans Affairs , disabled veterans hold roughly $1 billionof student loan debt.
Granted, this only amounts to around .057% of the $1.73 trillion of student loan debt amount afflicting the country, but hey, its a start.
At VA Claims Insider, weve seen hundreds of fellow disabled veterans in our VA Claims Insider Elite Membership Program get their student loans forgiven entirely just by utilizing our proprietary resources and network of private independent medical doctors for disability exams and VA medical nexus letters.
Become an Insider
Were Veterans helping Veterans Worldwide, and since 2016 weve helped 10,000+ Veterans just like you INCREASE their VA disability rating!
And in case youre wondering, the answer is YES the TPD veteran student loan forgiveness program is 100% legit and an unbelievable benefit for disabled veterans who meet the eligibility criteria outlined on the TPD discharge official site.
Types Of Student Loan Forgiveness And Related Options
There are many programs allowing military members to apply to defer student loans or have them forgiven. In all cases, it will be necessary to contact the loan servicer to determine what application requirements are needed at the time.
State law, lender requirements and other rules may apply. None of the programs listed here are automatic. You must apply for each one individually and supporting documentation is a condition of acceptance into each program.
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Do 100% Disabled Veterans Pay Student Loans
A borrower who is declared totally and permanently disabled is typically not required to repay federal student loans.
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Consider Private Student Loans
If you have any funding gaps left over, private student loans could help cover the rest of your education expenses.
If you have excellent credit, you might even qualify for a lower interest rate on private student loans compared to federal student loans particularly Direct PLUS Loans. Because of this, its a good idea to check your private student loan rates to see what you might qualify for.
Also keep in mind that depending on your credit, you might need a cosigner who has good credit to qualify for a private student loan.
Tip:Servicemembers Civil Relief Act
The Servicemembers Civil Relief Act provides financial and legal protection to military members and their families.
The benefits from the SCRA include lower interest rates from creditors, eviction prevention, life insurance coverage protection, and more.
If you decide to take out a college loan, be sure to consider as many lenders as possible to find the right loan for you. Some lenders also provide special military benefits.
Credible makes it easy to compare multiple lenders you can see your rates from our partner lenders in the table below in two minutes.
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures |
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