Military Service Benefits
Aspire Servicing Center recognizes and appreciates the sacrifices made by members of the military and their families.
SCRA Interest Rate Limitation
Under the Servicemembers Civil Relief Act (SCRA), the maximum interest rate that may be charged on an eligible loan is 6.00% during the period of the service member's qualifying military service.
Aspire Servicing Center will check the U.S. Department of Defense's Defense Manpower Data Center (DMDC) on a regular basis and automatically apply the SCRA interest rate limitation if the information in the DMDC shows that you qualify.
How to Apply
The SCRA interest rate limitation is automatically applied to your account if the DMDC indicates you qualify. If you have evidence of your military service that is more accurate than the information in the DMDC or if you are performing military service not reflected in the DMDC, you may either:
Armed Forces Interest Reduction Program
You may be eligible to have interest on your private student loans reduced to 0.00% for up to 24 months on your private student loans through the Armed Forces Interest Reduction Program if you meet all the following requirements:
- While on federal active duty, you have a non-defaulted private student loan serviced by Aspire Servicing Center during the period of eligibility.
- You are deployed between Sept. 11, 2001, and June 30, 2017.
Participating lenders include:
- Capitol View Credit Union
- Community 1st Credit Union
- Iowa Student Loan
- ISM Education Loans
- Louisiana Education Loan Authority (Lela)
- Premier Credit Union
- Veridian Credit Union
Note: We are required to issue a 1099-C form to the IRS and the borrower reporting a reduction of indebtedness of $600 or more. Consult your tax adviser regarding any tax consequences resulting from an interest reduction.
How to Apply
Call us at (800) 243-7552. See additional contact information.
You may qualify for a military service deferment or a post-active duty student deferment if you meet eligibility requirements.
How to Apply
Complete, sign, have certified and return a Military Service and Post-Active Duty Student Deferment form (PDF).
You may allow another person access to your account while you are on active duty or away from home.
|If You Are...
|A service member who wants to allow another person access to your account
||Fill out and submit a Third-Party Authorization Form (PDF).
|A service member who wants to allow another person to make decisions about and changes to your account
||Provide Power of Attorney and submit documentation, with your name and account number.
|A family member or friend who wants to apply for military deferment on a service member's behalf
||Submit a completed deferment form and required supporting documentation to Aspire Servicing Center. Contact Aspire Servicing Center for assistance.
|A family member or friend who wants to ensure the service member is receiving SCRA benefits
||Contact Aspire. (You must be an authorized third party on the account.)
For more information: