Military Member in the Reserves, Student loan forgiveness and lender credit freeze at a 6% interest rate
How does the loan forgiveness work for military members? I have been in the Army Reserves for the past 2 years does the program apply to me? I was also wondering about the 6% interest freeze on debt for military members since my credit card is obviously higher than that and one of my loans is higher than that as well?
The interest rate freeze and other financial benefits are available for “active duty” members under the Servicemembers Civil Relief Act (formerly called the Soldiers’ and Sailors’ Civil Relief Act). It’s not clear from your question if you currently on active duty.
Please post your responses and follow-up messages to me on this in the comments section below.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.