Important student loan information for military service members
Managing Your Account
While you are serving on active duty, it may be difficult to manage your account. There are several options to assist you.
Third Party Authorization
You may authorize our office to release loan information to certain individuals. Although they can receive specific information related to your account, they WILL NOT be able to make changes to your account. To authorize a third party, complete the Authorization to Release Information Form and return it to our office.
Power of Attorney
You may elect someone to act on your behalf via a Power of Attorney (POA). Unlike a third party authorization, as noted above, a POA has the ability to make changes to our account. Contact your Judge Advocate General Officer's office for more information.
If you need to temporarily postpone payments, you may be eligible for forbearance. During a period of forbearance, while your payments are postponed, interest continues to accrue and will be added (capitalized) to the principal balance of your loan at the end of the postponement period. Contact your loan servicer to discuss forbearance options.
Service members may qualify for reduced interest benefits under the Servicemembers Civil Relief Act (SCRA). Service members who qualify for reduced interest benefits can have their interest rates capped at 6%. If you feel you may qualify, contact your loan servicer.
- Active Duty members of the Army, Navy, Air Force, Marine Corps, and Coast Guard
- Reserve members while on active duty
- National Guard members while on active duty
- Commissioned Officers of the Public Health Service and National Oceanic and Atmospheric Administration
- Must be considered ACTIVE DUTY for any reason except:
- Duty as a member of the Reserve Forces Policy Board
- Duty performed as a property and fiscal officer
- Duty performed for the purpose of interdiction and counter-drug activities
- Duty performed as a general or flag officer or service as a state director of the selective service
- Must be a person who is on Active Duty for at least 30 days
- Loans must be disbursed before the date that the active service begins
- We must receive your request within 180 days of your last day of service
This benefit applies to all active duty service members, whenever and wherever deployed.
- Military Education Benefits www.military.com
- Aid for Military Families (U.S. Department of Education) https://studentaid.gov/understand-aid/types/military
- Explore the different ways today's military helps pay for college www.todaysmilitary.com/living/paying-for-college