The Navy will pay for up to $65,000 of qualified loans acquired from a post-secondary education. To be eligible for this enlisted program the loan cannot be in default and it must be the applicant’s first enlistment. The LRP is available to all active duty Navy enlisted positions.
The loan must be entered into before going joining the military. The following loans qualify for the College Loan Repayment Program:
-Auxiliary Loan Assistance for Students (ALAS)
-Stafford Student Loan, formerly known as the Guaranteed Student Loan (GSL)
-Parents Loans for Undergraduate Students (PLUS). Must be incurred for the use of the individual contracting for the program (not others such as relatives)
-Consolidated Loan Program. Only covers the member's education expenses
-Federally Insured Student Loans (FISL)
-Perkins Loan, formerly known as the National Direct Student Loan (NDSL)
-Supplemental Loans for Students (SLS)
For more information or to apply, please visit the scholarship provider's website.