SCRA Refund Calculator
The 6% cap is retroactive to your first day of duty. Every month a pre-service lender charged you more is money they owe back. Estimate your claim.
Turn the estimate into a claim:
- Never sent notice? You have until 180 days after separation. Generate the letter; it demands retroactive recomputation.
- Cap applied late or only from your letter date? Dispute per the refund guide.
- Guard/Reserve: run this per activation. Each period is its own claim.
- Run a legal-assistance office or milspouse blog? Add this calculator to your site for free.
How this works
Roughly what a lender owes you back after charging above 6% while you served.
The arithmetic
- Computes the annual saving exactly as the savings calculator does: balance times (APR minus 6), divided by 100.
- Divides that by 12 to get a monthly figure.
- Multiplies by the number of months you were charged above the cap.
The law behind this: 50 U.S.C. § 3937
Maximum rate of interest on debts incurred before military service: read the statute , or see where it sits in the whole Act .
What this does not account for
- An estimate, not a demand figure. Your lender calculates against the real daily balances on your account, which this cannot see.
- It assumes a steady balance across the whole period. A balance that moved will produce a different real number.
- The cap is retroactive to the first day of qualifying service once you send a valid request, so the months you count should run from that date, not from the date you wrote to them.
Heads up: SCRA Saver publishes general information, not legal or financial advice. Laws change and every situation differs. Confirm details with your installation legal assistance office (free for service members) or a licensed professional.