Guard ‘temporarily’ pauses some student loan repayments due to funding
By Davis Winkie
Thursday, Jul 20
The Army National Guard has “temporarily suspended” payments to soldiers eligible for student loan repayment incentives, according to a National Guard Bureau spokesperson.
“The Army National Guard temporarily suspended Student Loan Repayment Program (SLRP) payments that were owed between FY20-FY22,” said bureau spokesperson Deidre Forster in a statement emailed to Army Times. Forster pointed to “insufficient funding specific to the SLRP incentive” as the reason for the halt.
In a subsequent email, Forster clarified that the agency has funds to resume the payments, but doing so will “require technical accounting steps…to realign funding.”
The component’s typical loan repayment program offers up to $50,000 towards a soldier’s qualifying federal student loans in return for a six-year commitment, according to an online guide. The Army then pays the soldier’s loan servicer a portion of the benefit on the contract’s anniversary each year.
https://www.militarytimes.com/news/your-army/2023/07/20/guard-temporarily-pauses-some-student-loan-repayments-due-to-funding/
