Happy Memorial Day **Learn about Servicemember Civil Relief Act( Benefits )

Monday, May 28, 2018

As I veteran of the US ARMY I wanted be sure and to recognize MEMORIAL DAY and give thanks for the sacrifices and  remember those those who gave all for the freedoms we enjoy.

Me·mo·ri·al Day
məˈmôrēəl ˌdā/
noun; A day on which those who died in active military service are remembered, traditionally observed on May 30 but now officially observed on the last Monday in May.

In keeping with my blog message of thrifty living tips .
 I felt it would be fitting to share info that might be of interest to veterans with student loan balances.

Info below is from the MyFedLoan.org/Servicemembers website.

 Servicemember Civil Relief Act (SCRA)

Our Nation recognizes the commitments and sacrifices that servicemembers make for the protection of our country. On behalf of FedLoan Servicing, we applaud our servicemembers.
If you are or have served in the military, please review the following information that lists some of the protections and benefits that may be available to you.
Explore Servicemember Benefits to See if You May Qualify
·         Servicemember Civil Relief Act (SCRA) interest rate cap of no more than 6%
·         0% interest while receiving hostile pay
·         HEROES Act Waiver that streamlines documentation requirements for certain program benefits
·         Income-Driven Repayment plans that base your monthly payment amount on your income and family size with payments as low as $0
·         Public Service Loan Forgiveness after a certain number of loan payments
·         Postpone or defer payments during certain periods of, and immediately following, active duty*
·         All or a portion of loan forgiveness if you are disabled due to a service injury
·         Loan repayment through special Department of Defense repayment program
*Interest may accrue during periods of deferment or postponement.
Eligibility criteria for benefits vary by program and may include such factors as the type of military service, whether your loans were taken out prior to the date you began active duty status, and your income and family size.

We recognize the sacrifices you make and are here to help.
Learn more about the available benefits you may be eligible for at MyFedLoan.org/Servicemembers or call 1-800-699-2908 Monday through Friday from 8:00 AM to 9:00 PM (ET). Military benefits specialists are available to discuss eligibility requirements.
Thank you for your service to our country and we look forward to serving you!


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