Army SLRP Question:
Paraphrasing, but a payment of 33.33% of the loans up to $65,000 will be made each year. For the sake of simple math, assume you have $33,333 in student loans. The first payment of 33.33% will be $11,111. Will the next two payments also be $11,111 and thus pay off the entire original amount of $33,333? Or will they pay 33.33% of your new loan total each year, i.e. after the first payment, the new total would be $22,222 and thus the second payment would only be only ~$7,333 - leaving you with a new total of $14,889 - and then the third (and final) payment would be ~$4,913, leaving you with a remaining $9,976 which you're stuck with on your own. Thanks for any input!