New York National Guard Education Services
Student Loan Repayment Program (ELRP)
Student Loan Repayment Program (SLRP) The New York Army National Guard Student Loan Repayment Program is available to NYARNG Soldiers to assist in paying off student loans up to $50,000!
Non-Prior Service (NPS) Soldiers
Prior Service (PS) and Current ARNG Soldiers
09S Enlistment Option
Loans must be Title IV Federal loans disbursed and not in default at the time of enlistment/reenlistment.
All loans must be listed on the National Student Loan Data System (NSLDS) at http://www.nslds.ed.gov/nslds_SA/.
Soldiers must provide copies of the NSLDS Aid Summary and the NSLDS Detail Loan Information Sheet(s) (one for each loan) at the time of enlistment/reenlistment.
Adding New Loans
Soldiers may add new disbursed loans upon completion of their current service obligation and extension for an additional 6yr period. Total amount cannot exceed $50K.
Using the Student Loan Repayment Program
Eligibility for Payments:
To be eligible for payment, the Soldier must
* Once a loan goes into a default status, the NYARNG cannot make payment until the loan comes out of default.
How Much Will the Guard Pay?
The ARNG makes a payment once a year on the anniversary date of the contract. The NYARNG pays 15% or $500 per year (whichever is higher) with a maximum of no more than $7,500 per year. The 15% will not exceed 15% of the remaining balance of the original loan plus outstanding yearly interest. Funds are paid directly to the loan holder. The Soldier must continue to make minimum monthly payments to keep the loan from going into a default status.
Initiating Yearly Payments:
Once a year, no more than 90 days before the contract anniversary date, the Soldier starts the process by completing the DD 2475.
In order to initiate the yearly payment, Soldiers must submit the following documents to the Education Office at email@example.com or fax (518) 272-6831:
All NSLDS documents can be pulled from the National Student Loan Data System (NSLDS) at http://www.nslds.ed.gov/nslds_SA/ Once submitted, the Education Services Office will process the loan paperwork no earlier than your anniversary date. Payment will be submitted directly to the loan holder.
Completing the DD 2475
The DD 2475 must be completed before being sent to the Education Office.
Section 1(a) “Address for Completed Form” should be the Name of Soldier’s assigned unit, street address, city, state, zip code and phone number (with area code). NYARNG unit information can be found here.
Section 1(b) “The Verifying Official” must be signed by the Soldier’s unit.
Section 2 “Servicemember Data” and Section 3 “Loan Data” are completed by the Soldier.
Section 4 “Lender Verification” is filled out by the loan holder. It is the Soldier’s responsibility to send the form to the loan holder and to the Education Office once it’s complete.
Frequently Asked Questions
If I pay off my loan, will the ARNG reimburse me?
No, all payments must be made to the loan holder. If a Soldier pays off their loan, the ARNG will no longer make payments because there is nothing to pay.
My Loan went into default, how do I receive the ARNG SLRP payments?
You must bring your loan out of default by paying off the outstanding balance or working with your loan holder. Once the loan is out of default, the ARNG can start making payments again.
Do I need to claim SLRP payments on my taxes?
Yes, SLRP payments are a taxable income and is not taxed at the time of payment.
I have SLRP, what happens if I become an officer?
Enlisted Soldiers who enter a commissioning program or accept an appointment as an officer may continue to receive SLRP payments according to their original contract as long as they remain otherwise qualified.
© NYS DMNA: NYNG Education Services - Student Loan Repayment
Page Last Modified: 21 May 13 (ba)