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Career Assistance Program Loan (CAP Loan)

Get help with your bills

  • Checkmark$5,000 loan at 1.5% Annual Percentage Rate
  • CheckmarkAAFMAA makes no extra charges and collects no fees
  • CheckmarkNo penalty charges for prepayment of amount due
  • CheckmarkIt’s for Active Duty, Guard and Reserve

About this Benefit of Membership

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What Is Included?

  • A $5,000 loan at 1.5% Annual Percentage Rate
  • 60-month repayment schedule
  • Loan proceeds provided through a checking account at Armed Forces Bank
  • Must be AAFMAA member with $250,000 of Term or $50,000 of Value-Added Whole Life insurance
  • AAFMAA warrants that it makes no charges and collects no fees, other than insurance premiums, and loan principal and interest payment, and has no penalty charges for prepayment of the amount due
  • AAFMAA has complied with the provisions of Regulation Z, which implements the "Truth in Lending Act" (Public Law 90-32)

Who Is It For?

  • For Active Duty, National Guard, or Reserve
  • Who are:
    • E-5, E-6, E-7, E-8, E-9
    • All Warrant Officers
    • O1, O2, O3, or O4

CAP for College

When you’re on Active Duty, in the National Guard or Reserves, finding room in your budget to pay for college can be tough. Even with all of the financial aid options available, you may still need additional funds to cover all of your expenses. That’s why AAFMAA developed the Career Assistance Program (CAP) loan. AAFMAA members currently serving in the ranks of E5 to E9, all warrant officers, and O1 to O4 can apply for a $5,000 personal loan at just 1.5% interest, which is repaid over five years and can be used for tuition, books, fees or any other purpose.
 

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Start the Process Now

Request more information about the CAP Loan by filling out the form below.

Important Note:  The form below is for first-time CAP applicants only.

Already had a CAP Loan? You might qualify for another one! Call us at 800-336-4538 to find out.

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