Air Force Student Loan Repayment (or lack thereof??)

[SpookyCat]

Hello All,

I have posted on other older forums related to this a couple months ago. It seems as though the story has changed for me, yet again.

Originally, my recruiter said to me that I could choose either the loan repayment (28,000 after taxes) for 3 years comittment or a bonus (~23,000 after taxes). I chose the loan repayment. No matter what It would all be for loan repayment anyway. He said that I will know whether or not I'll get the loan repayment prior to this summer. I submitted my application for this in early January. My recruiter has always said that if I don't get he loan repayment I can always try for the bonus.

As of a couple months ago, I was put on an alternate list. Then my paperwork needed to be resubmitted last month because some info that my recruiter filled out related to months and years of comittment was incorrect. He said that it seems hopeful being that they've obviously looked at it, which means they could be reviewing my case.

Then I talked to him last month. Now he's saying that I most likely will NOT know whether I am getting the loan repayment prior to swearing in. He said that I may know a couple days prior to COT. IF I don't get it then we can always switch to the Bonus. My COT starts 08/23/10.

This all is starting to sound fishy to me. Do recruiters make more $$ if they get you to take a bonus over loan repayment? Why does it seem that the story is constantly changing? I do really want to know prior to swearing in if I'm going to have to do more than 3 years active. My recruiter keeps pushing the bonus at me. All the while, I'm feeling like I'm getting the shaft. Isn't there a chance that they'll run out of bonus money as well. Then what??? I sign for 4 years for nothing? Yes I do understand the other perks (ie tax free income, free medical, and etc.) of going into the USAF. I'm also extremely patriotic. But please don't try to guilt me into being okay with nothing like my recruiter has already tried. "You're not joining the Air Force just for Loan repayment or the Bonus, Are you?" I'm not okay with this if I know that others have gotten the 3yr/$28,000 and I'm getting nothing. Now he's saying that people would "Kill" for my spot in COT. Making it sound like I should be thankful that I have my spot. (Hey I started this whole process over a year ago so that I'd have this spot. Please don't try to use this to guilt me too!)

I was told in times past not to worry about this and to worry more about COT. Well I can't help but worry about this. This is MY Life and no one else is going to have to pay the $750/mo. my loans will cost me for 10 years without the loan repayment, except for ME. Thus I am a bit freaked.

Sorry I rambled on and on about this. Is anyone else in this situation?

[kato10]

HNELLA said:

So, bonus and loan reimbursements are taxed. Is it just Federal Tax? or does the State try to get their greedy share? I am considering claiming FL as my HOR as I currently live in the money grubbing PA...

If you live in a state with a state income tax then they will take their share as well. In order to change your HOR, most of the time you have to live in that state for a year.

[carolinapooh, BSN, RN]

Tackling a few questions here at once:

As far as I know - and remember, I get all that stuff forwarded to me from our Chief RN, who gets it from AFPC - the only thing we've been told about and the only thing we've seen is the ISP. There is currently no refile/reapply for the health professions loan repayment after your initial acceptance, and I did check this with my Chief RN.

Nashville RN - I'm on my iPhone. I'll PM you when I get home this evening.

Also - from the moment you become active duty, you can claim ANY state in the union as your HOR. The residency requirements vary according to the state, so saying you have to live there for a year isn't exactly true. The major requirement is you need a valid, brick and mortar address; when I was enlisted some states would let you use a PO box but those days are long gone. I'm a Texas resident and have been since I signed my first W2 with the AF, and all TX wants is for me to have a driver's license here. I was a PA resident when I was enlisted and if you're a PA resident, and you're active duty (and not stationed in PA - and the likelihood of that in the active AF is pretty much zero because the only air base there is an ANG base at Willow Grove), you pay no income tax - you file your state taxes and you get every single dime you paid back.

[TennBSN]

carolinapooh said:

Tackling a few questions here at once:

As far as I know - and remember, I get all that stuff forwarded to me from our Chief RN, who gets it from AFPC - the only thing we've been told about and the only thing we've seen is the ISP. There is currently no refile/reapply for the health professions loan repayment after your initial acceptance, and I did check this with my Chief RN.

Nashville RN - I'm on my iPhone. I'll PM you when I get home this evening.

Also - from the moment you become active duty, you can claim ANY state in the union as your HOR. The residency requirements vary according to the state, so saying you have to live there for a year isn't exactly true. The major requirement is you need a valid, brick and mortar address; when I was enlisted some states would let you use a PO box but those days are long gone. I'm a Texas resident and have been since I signed my first W2 with the AF, and all TX wants is for me to have a driver's license here. I was a PA resident when I was enlisted and if you're a PA resident, and you're active duty (and not stationed in PA - and the likelihood of that in the active AF is pretty much zero because the only air base there is an ANG base at Willow Grove), you pay no income tax - you file your state taxes and you get every single dime you paid back.

I don't have the private message privilages yet. Give me a few days to get that going. I reallly appreciate the info. Also, thanks for all of the advice you give on this forum. The COT info is priceless!

[SpookyCat, BSN, RN]

carolinapooh said:

No, that's not accurate. The loan repayment incurs a six year commitment, and it's up to forty grand, and it's paid directly to your lender.

FYI (this comes from my recruiter):

One is eligible for an accessions loan repayment when signing on for 3 year active duty term. This is because the loan repayment obligation is served Concurrently with one's initial commitment.

The bonus obligation time is served Consecutively with the initial obligation thus equaling a 4 year commitment.

One can receive both the bonus and the loan repayment for a 6 year Active Duty commitment.

This is just a heads up. If you would like to verify it PM me and I'll give you his contact info. Thanks

[carolinapooh, BSN, RN]

SpookyCat said:

FYI (this comes from my recruiter):

One is eligible for an accessions loan repayment when signing on for 3 year active duty term. This is because the loan repayment obligation is served Concurrently with one's initial commitment.

The bonus obligation time is served Consecutively with the initial obligation thus equaling a 4 year commitment.

One can receive both the bonus and the loan repayment for a 6 year Active Duty commitment.

This is just a heads up. If you would like to verify it PM me and I'll give you his contact info. Thanks

Thanks - this is exactly what the Air Force people on airforce.com told me, and it's exactly what I signed on for. Looks as though nothing's changed. 4 for the bonus, 6 for both. Thank your recruiter for a straight answer.

[SpookyCat, BSN, RN]

Hey Ms Pooh!

I just wanted to take a moment to thank you for all your help with this topic as well as many other USAF topics. :)

FYI I just found out 2 hours ago that I am DEFINITELY getting the Loan Repayment for 3 yrs!!!!! No more Alternate list for me!!! :w00t:

[elumine]

Hello! Just have a question..I know this is for Air Force thread so maybe its the same process..Anyway, I'm in the process completing my Army Nurse packet, but I have not seen any paper works about the student loan repayment..When do I usually sign paper works about student loan repayment? Do I have to wait to get selected or (if I will get selected) before signing up or what? I will appreciate any input. Thank you!

[dlinlee]

I'm pretty sure I filled out the loan repayment paperwork with my nurse packet, ask your recruiter about it. I am Air Force, but like you said- seems like it should be the same process.

[RNgalUSA]

I read online that the HPLRP is $40,000 a year for up to 3 years. Are you saying it is $40,000 total for the 3 years?

[Lunah, MSN, RN]

RNgalUSA said:

I read online that the HPLRP is $40,000 a year for up to 3 years. Are you saying it is $40,000 total for the 3 years?

This thread is almost 7 years old. Any information in it will not be up to date! ?