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Military Loans: Sensible Alternatives to Cash Advances


Military members have unique needs when it comes to loans and there are many unscrupulous businesses willing to take unfair advantage of those who serve our nation. Payday loan businesses, cash advance offers and pawn shops line the streets outside of military bases enticing soldiers, sailors, airmen and Marines with predatory loans with interest rates of 100% or higher. These outrageous programs lead many military loan seekers into bankruptcy.
Fortunately, there are a number of legitimate military loan programs out there that provide military personnel with loans designed for their unique needs at fair rates.

Let’s take a look at three programs that offer good opportunities for military loans:
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Military Pay and Compensation

Members of the U.S. military receive several forms of pay, designed to compensate them for their service to our nation. The three major components of military pay are:

  • Basic pay
  • Basic Allowance for Housing (BAH)
  • Basic Allowance for Subsistence (BAS)

These rates are adjusted annually to compensate for rises in inflation and the increases in the costs of housing and food.

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2007 Basic Allowance for Subsistence (BAS) Rates

The Basic Allowance for Subsistence (BAS) is a tax-free military allowance designed to cover the food costs of military members. Recent reforms in the BAS system simplified the rate structure and all military servicemembers now receive the full BAS rate.

Officers receive $192.74 per month and enlisted members receive $279.88 per month.

You may also wish to read about all forms of military compensation.

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2007 Basic Allowance for Housing (BAH) Rates

In addition to basic pay and the Basic Allowance for Subsistence (BAS), military personnel living off-base receive the Basic Allowance for Housing (BAH) to cover their living expenses. BAH is a tax-free allowance and is in addition to other forms of military compensation.

Specific BAH rates vary, depending upon a servicemember’s rank, geographic location of duty station, and whether they have dependents. Calculation of exact BAS rates may be performed using the DOD BAS Calculator. Members of the reserve component on active duty for less than 30 days or in transit receive the BAS Reserve Component/Transit (BAS RC/T) rates. BAS RC/T rates do not vary based upon duty station and appear in the table below:

2007 BAS II RC/T Rates

Pay Grade Partial Rate Full w/o Dependents Full w/Dependents Differential
O-10 50.70 1202.40 1479.30 283.50
O-9 50.7050.70 1202.40 1479.30 283.50
O-8 50.70 1202.40 1479.30 283.50
O-7 50.70 1202.40 1479.30 283.50
O-6 39.60 1102.80 1331.70 234.90
O-5 33.00 1062.00 1283.70 226.80
O-4 26.70 984.00 1131.60 150.90
O-3 22.20 789.00 936.30 150.60
O-2 17.70 625.20 798.90 177.60
O-1 13.20 527.10 715.20 192.60
O-3E 22.20 851.70 1006.20 158.40
O-2E 17.70 723.90 907.90 189.30
O-1E 13.20 622.80 839.40 221.70
W-5 25.20 999.60 1092.60 94.20
W-4 25.20 887.70 1001.40 115.80
W-3 20.70 746.40 918.00 175.50
W-2 15.90 662.40 843.60 185.10
W-1 13.80 555.30 729.90 179.40
E-9 18.60 729.00 960.90 237.00
E-8 15.30 669.30 886.50 222.00
E-7 12.00 571.50 822.90 257.10
E-6 9.90 517.20 760.20 248.40
E-5 8.70 477.30 684.00 211.20
E-4 8.10 414.90 594.30 183.00
E-3 7.80 407.10 552.90 149.70
E-2 7.20 330.60 527.10 200.40
E-1 6.90 295.20 527.10 237.00

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2007 Military Pay Tables

Each year, Congress authorizes military pay using tables that specify each servicemember’s salary based upon their rank and years of service. It’s possible for you to compute the basic pay of any service member using these tables. They are current as of the most recent defense authorization on April 1, 2007.

2007 Commissioned Officer Pay Tables

2007 Warrant Officer Pay Tables

2007 Enlisted Pay Tables

These tables describe basic pay, which is only one of three elements of military compensation.

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2007 Enlisted and Noncommissioned Officer Pay Tables

The following tables contain the basic pay rates for enlisted memebrs and noncommissioned officers in the United States military. These pay tables apply to all servicemembers in the U.S. Army, U.S. Navy, U.S. Air Force and U.S. Marine Corps.

The data in these tables is current as of the most recent defense authorization (April 1, 2007).

Enlisted Pay (Up to 16 Years of Service)

  2 or less Over 2 Over 3 Over 4 Over 6 Over 8 Over 10 Over 12 Over 14
E-9             4110.60 4203.90 4321.20
E-8           3364.80 3513.90 3606.00 3716.40
E-7 2339.10 2553.00 2650.80 2780.70 2881.50 3055.20 3152.70 3326.70 3471.00
E-6 2023.20 2226.00 2324.40 2419.80 2519.40 2744.10 2831.40 3000.00 3051.90
E-5 1854.00 1977.90 2073.30 2171.40 2323.80 2483.70 2613.90 2630.10 2630.10
E-4 1699.50 1786.50 1883.10 1978.50 2062.80 2062.80 2062.80 2062.80 2062.80
E-3 1534.20 1630.80 1729.20 1729.20 1729.20 1729.20 1729.20 1729.20 1729.20
E-2 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90
E-1 1301.40                

Enlisted Pay (16-30 Years of Service)

  Over 16 Over 18 Over 20 Over 22 Over 24 Over 26 Over 28
E-9 4459.50 4590.40 4821.60 5010.30 5209.20 5512.80 5512.80
E-8 3835.80 4051.80 4161.30 4347.30 4450.50 4704.90 4704.90
E-7 3569.70 3674.40 3715.50 3852.00 3925.20 4204.20 4204.20
E-6 3089.70 3133.50 3133.50 3133.50 3133.50 3133.50 3133.50
E-5 2630.10 2630.10 2630.10 2630.10 2630.10 2630.10 2630.10
E-4 2062.80 2062.80 2062.80 2062.80 2062.80 2062.80 2062.80
E-3 1729.20 1729.20 1729.20 1729.20 1729.20 1729.20 1729.20
E-2 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90

Enlisted Pay (Over 30 Years of Service)

  Over 30 Over 32 Over 34 Over 36 Over 38 Over 40
E-9 5788.50 5788.50 6078.00 6078.00 6381.90 6381.90
E-8 4799.10 4799.10 4799.10 4799.10 4799.10 4799.10
E-7 4204.20 4204.20 4204.20 4204.20 4204.20 4204.20
E-6 3133.50 3133.50 3133.50 3133.50 3133.50 3133.50
E-5 2630.10 2630.10 2630.10 2630.10 2630.10 2630.10
E-4 2062.80 2062.80 2062.80 2062.80 2062.80 2062.80
E-3 1729.20 1729.20 1729.20 1729.20 1729.20 1729.20
E-2 1458.90 1458.90 1458.90 1458.90 1458.90 1458.90

You might also be interested in viewing the pay tables for commissioned officers and warrant officers.

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2007 Warrant Officer Pay Tables

The following tables contain the basic pay rates for warrant officers in the United States military. These pay tables apply to all warrant officers in the U.S. Army, U.S. Navy, U.S. Air Force and U.S. Marine Corps. The data in these tables is current as of the most recent defense authorization (April 1, 2007).

Warrant Officer Pay (Up to 16 Years of Service)

  2 or less Over 2 Over 3 Over 4 Over 6 Over 8 Over 10 Over 12 Over 14
W-4 3402.00 3660.00 3765.00 3868.50 4046.50 4222.20 4400.70 4669.20 4904.40
W-3 3106.80 3236.40 3369.00 3412.80 3552.00 3825.90 4110.90 4245.30 4400.40
W-2 2749.20 3009.30 3089.40 3144.60 3322.80 3600.00 3737.10 3872.40 4037.70
W-1 2413.20 2672.40 2742.90 2890.50 3065.10 3322.20 3442.20 3610.20 3775.50

Warrant Officer Pay (16-30 Years of Service)

  Over 16 Over 18 Over 20 Over 22 Over 24 Over 26 Over 28
W-5     6049.50 6356.40 6585.00 6838.20 6838.20
W-4 5128.20 5310.90 5489.70 5752.20 5967.60 6213.60 6213.60
W-3 4560.30 4847.70 5042.40 5158.50 5282.10 5450.10 5450.10
W-2 4166.70 4284.00 4423.80 4515.90 4589.40 4589.40 4589.40
W-1 3905.10 4024.50 4170.00 4170.00 4170.00 4170.00 4170.00

Warrant Officer Pay (Over 30 Years of Service)

  Over 30 Over 32 Over 34 Over 36 Over 38 Over 40
W-5 7180.20 7180.20 7539.30 7539.30 7916.40 7916.40
W-4 6337.80 6337.80 6337.80 6337.80 6337.80 6337.80
W-3 5450.10 5450.10 5450.10 5450.10 5450.10 5450.10
W-2 4589.40 4589.40 4589.40 4589.40 4589.40 4589.40
W-1 4170.00 4170.00 4170.00 4170.00 4170.00 4170.00

You might also be interested in viewing the pay tables for enlisted servicemembers and commissioned officers.

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2007 Commissioned Officer Pay Tables

The following tables contain the basic pay rates for commissioned officers in the United States military. These pay tables apply to all servicemembers in the U.S. Army, U.S. Navy, U.S. Air Force and U.S. Marine Corps. They also apply to commissioned officers of the Coast Guard, Public Health Service and NOAA Commissioned Corps.

The data in these tables is current as of the most recent defense authorization (April 1, 2007).

Officer Pay (Up to 16 Years of Service)

  2 or less Over 2 Over 3 Over 4 Over 6 Over 8 Over 10 Over 12 Over 14
O-8 8453.10 8729.70 8913.60 8964.90 9194.10 9577.20 9666.30 10030.20 10134.30
O-7 7023.90 7350.00 7501.20 7621.20 7838.40 8052.90 8301.30 8548.80 8797.20
O-6 5206.20 5719.20 6094.50 6094.50 6117.60 6380.10 6414.60 6414.60 6779.10
O-5 4339.80 4888.80 5227.50 5291.10 5502.00 5628.60 5906.40 6110.10 6373.20
O-4 3744.60 4334.70 4623.90 4688.40 4956.90 5244.60 5602.80 5882.40 6076.20
O-3 3292.20 3732.30 4028.40 4392.00 4602.00 4833.00 4982.70 5228.40 5355.90
O-2 2844.30 3239.70 3731.40 3857.40 3936.60 3936.60 3936.60 3936.60 3936.60
O-1 2469.30 2569.80 3106.50 3106.50 3106.50 3106.50 3106.50 3106.50 3106.50

Officer Pay (16-30 Years of Service)

  Over 16 Over 18 Over 20 Over 22 Over 24 Over 26 Over 28
O-10     13659.00 13725.90 14011.20 14508.60 14508.60
O-9     11946.60 12118.50 12367.20 12801.30 12801.30
O-8 10447.80 10900.80 11319.00 11598.30 11598.30 11598.30 11598.30
O-7 9577.20 10236.00 10236.00 10236.00 10236.00 10287.90 10287.90
O-6 7423.80 7802.10 8180.10 8395.20 8613.00 9035.70 9035.70
O-5 6776.40 6968.10 7158.00 7373.10 7373.10 7373.10 7373.10
O-4 6187.50 6252.30 6252.30 6252.30 6252.30 6252.30 6252.30
O-3 5355.90 5355.90 5355.90 5355.90 5355.90 5355.90 5355.90
O-2 3936.60 3936.60 3936.60 3936.60 3936.60 3936.60 3936.60
O-1 3106.50 3106.50 3106.50 3106.50 3106.50 3106.50 3106.50

Officer Pay (Over 30 Years of Service)

  Over 30 Over 32 Over 34 Over 36 Over 38 Over 40
O-10 15234.00 15234.00 15995.70 15995.70 16795.50 16795.50
O-9 13441.50 13441.50 14113.50 14113.50 14819.10 14819.10
O-8 11888.40 11888.40 12185.70 12185.70 12185.70 12185.70
O-7 10493.70 10493.70 10493.70 10493.70 10493.70 10493.70
O-6 9216.30 9216.30 9216.30 9216.30 9216.30 9216.30
O-5 7373.10 7373.10 7373.10 7373.10 7373.10 7373.10
O-4 6252.30 6252.30 6252.30 6252.30 6252.30 6252.30
O-3 5355.90 5355.90 5355.90 5355.90 5355.90 5355.90
O-2 3936.60 3936.60 3936.60 3936.60 3936.60 3936.60
O-1 3106.50 3106.50 3106.50 3106.50 3106.50 3106.50

Officer Pay (With >4 Years Prior Enlisted Service)

  Over 4 Over 6 Over 8 Over 10 Over 12 Over 14 Over 16 Over 18
O-3E 4392.00 4602.00 4833.00 4982.70 5228.40 5435.40 5554.20 5715.90
O-2E 3857.40 3936.60 4062.00 4273.50 4437.00 4558.80 4558.80 4558.80
O-1E 3106.50 3317.70 3440.10 3565.50 3688.80 3857.40 3857.40 3857.40

You might also be interested in viewing the pay tables for enlisted servicemembers and warrant officers.

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