US Navy pursues Americans with debt

(MENAFN) In order to entice Americans who are deeply in debt to enlist, the United States Navy is promising to wipe off their college loans with enlistment incentives that can reach USD50,000.

The Navy stated on Saturday that recruits who are prepared to ship out by September 30 and fulfill all other conditions may be eligible for up to USD65,000 in loan repayments, boosting their total bonus potential to USD115,000 overall. New recruits and veterans who enlist again but didn't earn a bonus for their initial enlistment are both eligible for the offer.

Rear Adm. Lex Walker, head of the Navy Recruiting Command, claimed that for people who are struggling with student loan debt, " This is an opportunity without precedent " that might be " life-altering." An average of USD30,000 in student loan debt is carried by nearly one in five United States individuals. The nation's student debt is close to USD1.75 trillion.

The Navy increased the maximum enlistment incentive to USD50,000 from USD40,000 just six months’ prior, citing a tight labor market. All United States military services are allegedly having difficulty meeting their recruiting goals for this year, suggesting that the incentive provided was insufficient to fulfill the need for soldiers.

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