The Office of Federal Student Aid of the Ministry of Education has retroactively waived student loan interest for more than 47,000 current and former military personnel.

Service personnel deployed to areas where they are threatened with personal injury or imminent danger are eligible for interest on certain federal loans, but they must apply for the benefit separately, so only a small number of eligible people can access it. The department is now using data matched with the Department of Defense to automatically provide service personnel with interest waivers.

FSA Chief Operating Officer Richard Cordray said: “Brave men and women in uniforms serving our country can now focus on work and return home safely instead of filling out more paperwork to get them to come. The hard-won benefits.” “The Federal Office of Student Aid appreciates our strong partnership with the Department of Defense. We will minimize the red tape for service personnel.”


Source link

Leave a Reply