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-   -   Military repay college loans - officer? (http://www.armyreal.com/forum/showthread.php?t=1994)

hsizan 12-08-2005 08:59 PM

Military repay college loans - officer?
 
I'm 25, have a Masters degree and am finishing up a PhD in Remote Sensing (~SIGINT). Are there any programs with the Army or any other branch that would repay my college loans (like if I enlisted)? I'm seriously looking at the military, but it doesn't make sense for me to enlist with a PhD just to get my loans paid off. Also, does anyone know if there are any programs whereby I could start out at a higher rank because of education? Thank you.

Boardmaster 04-30-2006 05:40 PM

You're going to have to go enlisted first. The Army will pay off your loan in the first three years--then you can go OCS. I have a buddy who got his law degree and he joined just to pay off that loan. Plus, he got a $20K bonus on top of that! Trust me...i:cool: t will stink in the beginning--but pay off in the end!

Snakedoctor 06-06-2006 10:26 AM

OCS as enlisted college grad?
 
Quote:

Originally Posted by Pappy
If you sign up for OCS, you will not get your loans paid off.

If you enlist, there is the loan repayment program... At the end of your first enlistment, you could apply for OCS.

If you enlist with a 4 year degree, you will start as an E-4 Specialist. You also get an extra $8k in your signon bonus.

I'm 24, w/ my Bachelors degree and also looking into the Army. Loans aren't the issue for me but I'd like GI Bill support to get my Masters. I was told no signing bonus, loan repayment OR GI Bill if I went directly to OCS. The recruiter also said that I could apply for OCS after my first year of enlistment (in order to get the bonuses).

From what you guys are saying, does that mean that my application wouldn't be processed until my first enlistment term was up? Also aside from if I were to just be a stupid soldier and screw up my record with the Army, what is the likely hood of not getting in to OCS after enlisting with a 4 yr. degree? I'm still early in the decision making process and going in to talk with the recruiter again tomorrow so any clarification would be appreciated.

amandaaz 04-11-2009 12:48 AM

What kind of account should be recorded for the loan? The treasurer of a company borrowed $100,000 from the company and placed a note in his desk promising to repay the loan. However, he did not record the loan on the company's books, and therefore did not report the loan on the company's balance sheet.

chodge 04-11-2009 06:36 AM

Quote:

Originally Posted by Pappy (Post 17171)
If you sign up for OCS, you will not get your loans paid off.

You can get SLRP or the GI Bill as an OCS candidate.




Quote:

Originally Posted by Snakedoctor (Post 20878)
The recruiter also said that I could apply for OCS after my first year of enlistment (in order to get the bonuses).

If your goal is to be an officer then put your packet in. You can put your packet in like they said later, but at that point, it is out of your control, and will need your COC. IT may be a while before you get the opportunity. If you are more concerned with an upfront bonus then enlisted may be a better route.

Good luck to you, and let us know what you decide


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