ASLA recognizes and appreciates the sacrifices made by members of the military and their families. To assist service members with their student loan, we offer an Armed Forces interest reduction program. Through the program, service members can get interest reduced to 0.00% on their private student loans.
You may be eligible for the program if you meet all the following requirements:
- While on federal active duty, you have a non-defaulted private student loan owned by ASLA during the period of eligibility.
- You are deployed between Sept. 11, 2001, and June 30, 2021.
ASLA is required to issue a 1099-C form to the IRS and the borrower reporting a reduction of indebtedness of $600 or more. You should consult your tax adviser regarding any tax consequences resulting from an interest reduction.