Military members could save tens of millions of dollars on student loans

Source: Jillian Berman, MarketWatch

Members of the military who are receiving imminent danger pay or hostile fire pay — essentially a higher salary for serving in dangerous situations — are entitled to have their student loan interest rate set at zero during that period.

The Department of Defense announced a change in policy this week that will allow the agency to work more closely with the Department of Education to make sure eligible service members get the student loan benefits they’re entitled to under law.

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