MIL Question about paying for loans while in active duty

Discussion in 'On Topic' started by Casino, Sep 7, 2009.

  1. Casino

    Casino OT Supporter

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    Question about paying for loans while active duty

    Right now I have been paying for my college tuition with student loans, and my dad is cosigned on all the loans. I'm going to start paying them back when I commission. If I get killed or hurt to the point where I can't work anymore and pay back the loans, what exactly happens with those loans? I won't have money to pay them and since my dad is cosigned, he is responsible to pay for them if I can't. Will they force him to pay them even if I'm hurt or dead?
     
    Last edited: Sep 7, 2009
  2. Off

    Off Memento Mori

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    When you die all your assets and liabilities are passed on to your beneficiary.

    Life insurance
     
  3. Casino

    Casino OT Supporter

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    What if I'm hurt and can never work again? Will I just have to use my disability to pay for it? Will it be enough?
     
  4. Fail

    Fail New Member

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    The army (assuming you're army) has a pension program for wounded veterans. Mind you, I think it only applies to those hurt in a combat zone. I'm not sure if it has to be a combat injury, just occuring in a combat zone.

    Otherwise, don't be a douche, sign up for the $400,000 life insurance policy.
     
  5. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    Fail is right.

    SGLI is automatic; you have to opt-out. It is also the cheapest term life insurance you can get when you get older. You may be able to find a cheaper rate now, but when you get MAJOR's age, it can be quite hard to find a cheaper rate.
     
  6. Casino

    Casino OT Supporter

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    I understand the life insurance. How much pension do I get for a permenant disability? I know it varies depending on how bad I am, but is it enough to pay bills?
     
  7. thekinggovernor

    thekinggovernor OT Supporter

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    yes you will be taken care of, relax bro.
     
  8. Ninja

    Ninja OT Supporter

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    Will you not be eligible for SLRP after you commission?
     
  9. TRN

    TRN Well-Known Member

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    IBhefakeshisdeath
     
  10. thekinggovernor

    thekinggovernor OT Supporter

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    wtf happened here
     
  11. The Method

    The Method Lurker In Progress

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    Someone erased all of Evan2 and my posts after I called him out for trolling the OP.

    Sorry, I know I'm a lurker of sorts, but this guys high and mighty sarcasm in every thread in the The Barracks has just annoyed me.. I'll leave it be.
     
  12. evan2

    evan2 Guest

    I hate you but Ill leave it be........just sayin

    lol

    high and mighty YES!
     

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