Long story short I am looking to get a really good understanding of how the SCRA works. I have always heard about it but never really thought I would need it or end up in a position where I would need it, but here I am. Essentially, I did 6 years in the National guard, got out for about a year, then came back in on a 3 year contract with a different MOS. My spouse has some high interest student loans, and we have 2 car loans, and some credit card debt. When I came back to the guard, I reenlisted under a different MOS so I will be going to a 3 month long AIT here soon.
My question is mainly focusing on the reduction in interest rate benefit of the SCRA. Can I get that? How does it work? Does it only apply for those 3 months that I am on orders at AIT? Any and all insight would be greatly appreciated!
Posted by andysto2
1 Comment
You can get 6% for any previously held loans for the 3 months you are on orders. If they give you more than that, great – not required.