I have a sizable amount of student loans I entered into before entering the military service. I understand that the SCRA allows an interest rate reduction on pre-service debts. Does this include student loans?
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Unfortunately, no. The SCRA does give favorable interest rate treatment to pre-service debt, but this does not extend to student loans. Under 20 U.S.C 1078, Congress did not permit any other statute (such as the SCRA) to reduce interest rates on student loans. However, the various military branches provide a great deal of assistance with regard to student loan obligations, so look into that if you are serving or intend to serve.
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Unfortunately, no. The SCRA does give favorable interest rate treatment to pre-service debt, but this does not extend to student loans. Under 20 U.S.C 1078, Congress did not permit any other statute (such as the SCRA) to reduce interest rates on student loans. However, the various military branches provide a great deal of assistance with regard to student loan obligations, so look into that if you are serving or intend to serve.
