Resource Type:

Reference

Provided By:

CFPB


Protections for both federal and private student loans.

Reduce your interest rate to 6 percent.

Under the Servicemembers Civil Relief Act (SCRA), servicemembers can reduce their interest rate to 6 percent on all pre-service obligations, including student loans, while they are on active duty. The lower interest rate can be requested up to 180 days after leaving service, and the lower interest rate will be applied retroactively for the entire period of your active-duty military service. (Download the full document here…)

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