This website has already discussed a number of strategies that individuals can employ in order to pay off their student loans. Indeed, there are many ways that borrowers can save money and earn extra income so that additional cash can be devoted to student debt. However, people can also work certain jobs that include employee benefits, which can help with student loans. Indeed, as many individuals already know, the military can help you with student loans. For this reason, numerous student debt borrowers should consider student debt benefits given to members of the armed services.
During my student loan repayment saga, there were two times when I seriously considered joining the military, in part due to the student debt benefits that members of the armed services enjoy. When I was in law school, I participated in Army ROTC classes, so that I could be eligible for a scholarship that would pay for the last two years of law school. More recently, I tried to become a lawyer in the Army Reserve. These experiences showed me how the armed services can help you with student loans, and how individuals with student debt should seriously consider joining the military.
As a high school student, I knew that on-campus ROTC programs at many colleges could help individuals pay for their educational expenses, so long as students attend, military science classes, and commit to serving in the military. I started the application process for an undergraduate Army ROTC scholarship, since I was interested in military service and receiving the educational benefits that members of the armed services enjoy. I ended up not attending a university that had an ROTC program, and I was able to borrow a minimal amount of debt as an undergraduate. As a result, I elected not to participate in ROTC in college.
When I was a law student, I did some research about whether Army ROTC scholarships existed for graduate students. To my surprise, I discovered that Army ROTC scholarships are available to many graduate students, including law students. Army ROTC graduate school scholarships only cover the last two years of law school, but even if I had to pay for my first year of law school by myself, this scholarship could still minimize the amount of student loans I borrowed.
Fortunately for me, the law school I attended as a first-year law student was right next to the Virginia Military Institute, a top military college with a solid ROTC detachment. The staff at VMI were more than happy to have me participate in their Army ROTC program, and they allowed me to take a military science class for a semester without being contracted to serve in the military. As part of this training, I attended a class once a week, and did physical training with the ROTC cadets weekly as well. In addition, I participated in a field training exercise at a local military base and conducted other practical trainings on some weekends. It was great to learn a little about what military service would be like without committing to serve, and I enjoyed bonding with the cadets at the Virginia Military Institute.
In order to compete for an Army ROTC scholarship for law school, I later attended a 30-day leadership course at Fort Knox, KY the summer after my first year of law school. The course was tough, since we had to live in barracks, conduct rigorous physical training, and learn a number of new skills. However, the program was a good challenge, and it was great to meet many other individuals participating in the Army ROTC program.
Although I was offered an Army ROTC scholarship after attending this course, I decided not to accept it. I learned during the training that I was admitted as a transfer student to another law school, and I received substantial financial aid from my new law school. However, ROTC is one way the military can help you with student loans, since the military will pay educational costs for contracted ROTC cadets.
More recently, I was accepted to be a lawyer in the Army Reserve. I applied to this program after I had already paid off my student loans, but joining the military after earning a degree often has a number of student loan benefits. If I had joined the Army Reserve, I would have been entitled to tens of thousands of dollars of student loan repayment, and I believe that individuals who join the active army are entitled to even more money. In addition, the GI Bill allows veterans to receive educational assistance should they wish to continue their studies. I was unfortunately medically disqualified for service in the Army Reserve, but the process of applying to serve showed me how the military can help you with student loans.
Of course, if you are interested in joining the military for educational benefits or otherwise, you should carefully evaluate your decision. Military life is very different from civilian life, and it is not for everyone. Also, everyone considering military service should assess whether they are okay with the prospect of being separated from loved ones, and being put in harm’s way.
However, military service is a very honorable undertaking, and the armed services can help you with student loans. There are also a number of other benefits to military service that should be evaluated when determining if joining the armed services is right for you. Indeed, individuals who join the military might be entitled to signing bonuses, healthcare for themselves and their families, and other benefits. In any case, the military can help you with student loans, and student debt borrowers should consider options with the armed services along with other strategies that can help pay off student loans.