I think you have a few misconceptions, or not, but I'll clarify a few things.
Financially speaking I think you'll come out way ahead assuming your student loans are indeed federal loans. Extra especially if you have kids.
...but living in the military is not all fun. There are serious and major downsides. Such as...
Have to think about the downsides short term and long term. It's a contract. You can't leave just because you don't like it.