Does the military look at your credit score?
Your Credit Score and Credit History
The Army, Navy and Marine Corps usually run credit checks only on applicants who need to qualify for a security clearance or who require a dependency waiver. But they forgo hard-and-fast rules in favor of a case-by-case approach.
They'll look for any red flags that indicate financial problems. They may also check your debt-to-income ratio to see if you're able to handle all your debts while serving. While a low credit score alone won't disqualify you from serving, it's important to show you're responsible and able to manage your finances.
“It's a significant factor,” the Defense Counterintelligence and Security Agency spokesperson said. For that reason, the person deciding your case won't necessarily deny your clearance application just because you have a low credit score. There is no specific credit score needed for security clearance.
Your debts affect security clearance
Some military positions require security clearances, which can be affected by significant financial issues. Excessive debt, especially if it's tied to risky behaviors or poor financial management, could potentially affect your eligibility for or maintenance of a security clearance.
In fact, the term used for potentially disqualifying a candidate for a security clearance is “excessive indebtedness,” which is open for wide interpretation based on a soldier's income and assets. A better gauge might be the individual's debt-to-income ratio, measured by dividing total monthly debt by monthly income.
If you plan to work in the military or another area of public service for 10 years and you have federal loans, you likely qualify for an income-driven repayment plan and loan forgiveness through the Public Service Loan Forgiveness (PSLF) program.
Disqualifications at MEPS can include illegal drug use, alcohol dependence, not meeting the height/weight requirements, having certain contagious diseases, and more. Law violations can also prevent you from enlisting, such as being convicted of a crime that prohibits you from carrying a firearm.
Each branch of the military has age limits to enlist in active duty: Air Force: 17 - 39. Army: 17 - 35. Coast Guard: 17 - 31.
If you took out a mortgage loan before entering the military, the Servicemembers Civil Relief Act (SCRA) requires your lender to get a court order before it can foreclose on your home. This protection applies while you are serving in the military and for one year after you complete your service.
How much debt can you have in the military?
Financial debt is not an automatic disqualifier from military service. However, significant or special financial debt (such as very high unsecured debt, such as a credit card, or debts such as gambling debts) could impact your ability to be approved for a security clearance.
And although background checks may not include your credit score, they may include a financial history, which can offer a potential employer or landlord a lot of the same information.
If you have bad credit, accounts that are in collection, or a previous bankruptcy, you will typically have to meet certain financial eligibility requirements in order to join most branches of the military.
Military College Loan Repayment Program
Military enlistees, and some already enrolled members, can receive student loan repayment assistance of up to $65,000 for a three- or six-year commitment. Federal student loans and even some private student loans may be forgiven.
No branch of the military has a set amount of debt that is the breaking point for security clearance. You could owe $5,000 or $50,000 and be granted or denied clearance. It's all a matter of how you deal with the debt. Responsible behavior in tackling your debt problems is considered a positive.
You have been convicted of a felony within the past 10 years. You have a significant history of financial problems with heavy indebtedness and late payments (over 180 days), bad debts, fairly current tax liens, repossessions and garnishments.
Technically, a command investigation into alleged military misconduct could gain access to a bank account, but the Investigating Officer or “IO” would still need to go through the same judicial process as required for a law enforcement investigation: obtaining a valid warrant from a court.
Unpaid loans, overdue bills or a history of bad credit could impact your ability to serve in the military because you must be eligible for security clearance. In certain cases, you must prove you can meet your current financial obligations before joining.
Many people are not aware that the Army, Navy, Air Force, and National Guard can offer you special programs for repaying student debt. If you have Federal Direct Loans, you may be eligible to have these loans totally forgiven by joining the military.
If you have three or more convictions related to driving while intoxicated, drugged, or impaired in the past five years before joining. If you are convicted for five or more misdemeanors. If you are unable to pass a drug or alcohol test, or if you have current charges pending against you.
Who Cannot join the army?
Eating Disorders. Anxiety and Depression. Post-traumatic Stress Disorder (PTSD). History of deliberate self-harm or suicide attempts.
Unfortunately, the age limit for joining the military currently ranges from 17 to 41 years old. The age limit differs based on branch and type of enlistment.
When it comes to your basic pay, the military branches are all the same. A look at military pay charts shows that military pay is based on a pay grade, or rank, and years of service. In terms of your base pay, there is no fundamental advantage to opting for one branch of service over another.
Congress sets age limits to enlist in active duty, and U.S. laws states you can be no younger than 17 and no older than 42. So, high school seniors can join but the law does not allow a senior citizen to enlist in the active military.
You should be between 17 to 41 to apply as an Active Duty member. You should be between 17 to 40 years old to be a Reserve. If you're interested in applying for their service academies, you should be between 17 to 22 years old on the last Monday in June.
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