However, given the privately-owned company Daniel currently works for does not meet the requirements of a qualifying employer he will not be able to receive forgiveness yet. In order to receive the full benefit of the temporary changes, he will need to apply to consolidate his loans into the Direct Loan program and apply for PSLF by October 31. Yes! Why?- Daniel may be eligible to receive credit towards PSLF from his 8 years of service in the U.S. He still owes money on his student loans and is wondering if he could be eligible for PSLF. Daniel decided to leave the Army in 2020 and began working for a privately-owned manufacturing company in Billings, Montana. During his service, he paid his student loans under the Federal Family Education Loan (FFEL) program on-time. Get Involved Show submenu for “Get Involved””ĭaniel graduated from college in 2012 and served in the United States Army.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””.The mission of the trust is to assist the four military aid societies - AER, the Air Force Aid Society, the Navy-Marine Corps Relief Society, and the Coast Guard Mutual Assistance, by providing a single place to receive donations for the entire U.S. In 2003, a new nonprofit organization, the Armed Forces Relief Trust, was formed with assistance from the National Association of Broadcasters. The Army also provides AER its office space at no charge. Īs of early 2009, AER was paying for a staff of 21 people, all at its headquarters at the Army Human Resources Command in Alexandria, Virginia, with the Army paying 300 or so other civilians, located at ninety Army sites worldwide, who worked full-time for the AER. For 2009, AER plans to reduce its total scholarships to $8 million. In 2008, AER gave out $5.5 million in emergency grants, $65 million in loans, and $12 million in scholarships, to a total of 72,000 people. During that five-year period of 2003-2007, AER's emergency assistance consisted of 91 percent repayable loans and 9 percent direct grants. AER ended 2007 with a $296 million in its investment portfolio of stocks and bonds. In February 2009, the Associated Press reported that the AER had, between 20, distributed a total of $64 million in aid, an average of $13 million per year, while adding $117 million to its reserves, and reaching total assets of $345 million. Officers are responsible for ensuring that their soldiers repay AER loans. Loans up to $1000 do not require command recommendation, and there is no limit to the amount of funds Army Emergency Relief may authorize. Under Army regulations, officers must recommend whether their soldiers deserve aid. The mission of the AER is to help US Army soldiers and their dependents, by providing emergency aid, in the form of either a direct grant (a cash gift, not to be repaid) or an interest-free loan, and by giving college scholarships to children of soldiers. The organization is headquartered in Arlington, VA. Army Emergency Relief (AER), often referred to by the longer title Army Emergency Relief Fund, is a non-profit, charitable organization independent of, but closely associated with the United States Army, founded in 1942.
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