Is it possible to get a federal student loan to pay off a private student loan? and Phone Call with President about Student Loans

Is it possible to get a federal student loan to pay off a private student loan?

Im currently active duty AF with 5000 dollars left on a student loan prior to enlistment I am also currently enrolled in school. If I defer payments on my loan it still collects interest. Is there a way to get another student loan to pay off my current one then put it into forbearance for military duty where the gov't will pay the accrued interest?


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Answer by vagueship
To get a federal student loan you have to be in school at least half-time which is 6 hours. Once you meet this qualification you can get up to about $ 5000 a semester or up to $ 10,000 a year. If you have the funds available, after paying tuition, you can do whatever you want to that is school related including paying off debt.

Here's my suggestion since you're active duty. I'm a computer science major. Had I wanted I could have worked somewhere in a computer related field and received six hours of college credit. Get in touch with an old professor, in your field of study, and see if there is any way your military duties are related to your major. You then will qualify for a student loan through the federal government.

You can email your professor any papers that are due.

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Phone Call with President about Student Loans


Image by MDGovpics
Governor O'Malley takes phone call with president about student loans by Tom Nappi at Governor's Office, State House, Anapolis, Maryland

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