Recommendation:
Currently, the SLRP program makes annual lump sum payments directly to the Federal Loan Offices. While an annual, lump sum payment is beneficial to the Soldier in that it decreases the overall sum of the loan, it does nothing to decrease the monthly obligation the Soldiers must pay under the current terms of their loans. As a new college graduate, the time that Soldiers need their monthly obligations/expenditures to be the lowest is when they are freshly entering the workforce in their chosen field and are making the least amount in salary. SLRP must coordinate with Federal loan holders within NSDLS in order to permit qualifying Soldiers under the new proposed SLRP program to make interest only payments (if loans are less than or equal to $50k), or pro-rated payments (based on the interest accrued over the life of the loan as well as the dollar amount over the $50k guaranteed under the program).