College Loan Forgiveness for Military Spouses?

Hey, quick question – I'm worried about college loans. If I marry my high-school sweetheart, who's going into the military, could that entitle me to any kind of college loan forgiveness program for military spouses?

Yes, as a military spouse, you could potentially qualify for student loan forgiveness or assistance programs. Here's a brief overview:

- Military Spouse Employment Partnership (MSEP): This program helps military spouses find employment, potentially helping tackle those loans by offering career opportunities. However, it's not specifically tied to loan forgiveness.

- The Spouses of Veterans Education Challenge: This is a privately funded scholarship program, so doesn't cancel student loans, but may offset costs for ongoing education.

- Military Spouse Career Advancement Accounts (MyCAA): This provides up to $4,000 to military spouses who are pursuing degrees, licenses, or credentials leading to employment in portable fields.

Importantly, the Public Service Loan Forgiveness (PSLF) program is a federal program that forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. While this is usually utilized by service members themselves, it can apply to civilian public service jobs - if you're working in public service, you could also potentially qualify for this program.

Remember that each of these programs has specific requirements and constraints, so it's critical to conduct more in-depth research into any that might be relevant to your situation. Keep in mind that these benefits did not cover full tuition costs and consider this in your financial planning. Please reach out to the specific organizations or a college financial advisor to get tailored advice. Talk to a financial aid counselor to discuss your specific case and explore your options thoroughly.