Some servicemembers are eligible for help with high-interest loans
When many people take out a bank loan, they sometimes fail to read the small print. This is the part of the statement explaining interest rates for the loan, which is many times determined by your credit score. Sometimes this could equal 10, 20 or even 25 percent interest on the borrowed amount. If you take out this type of loan before you enlist in the military or are called to active duty in the reserves, the Servicemembers Civil Relief Act (SCRA) might be able to help you lessen the burden of these costly loans.