Education Earned: Financial Aid for Veterans
March 4, 2010 by Natasha Bright
Filed under Online Degrees
You’ve served your country, now it’s time to see what Uncle Sam can do for you. Well when it comes to getting your college degree, he can do a lot. There are millions of tax-free dollars available to veterans and their dependents, consider it a thank you for your service. The Department of Defense, Department of Veterans Affairs and many states offer programs to help vets pay for college. There are also millions of dollars available in college loans for members of the military.
The Montgomery GI bill, or MGIB is just one element in the government’s effort to educate veterans. The GI Bill went into effect in 1944 under President Roosevelt. Since World War II, it’s estimated more than two million veterans have taken advantage of the GI Bill. Under the plan, service members and veterans get monthly payments to use for higher education. To qualify you must have served at least two years on active duty and have your high school diploma or equivalent. Participants are eligible for 36 months of education, a value of more than $40,000.
The GI Bill is not considered financial aid by colleges and universities, because the money is paid directly to you. That means veterans are still eligible for student loans, scholarships, and Pell Grants. However, GI Bill payments reduce the amount of student financial aid you are eligible to receive. GI money can be used not only for tuition,but also, fees, books and living expenses. The tax-free money can also be used to pay for independent study programs, required continuing education, licensing, certification, apprenticeship, and on-the-job training. Once you leave the armed services, you have ten years to use your benefits.
In August 2009 a new GI Bill went into effect. The Post 9/11 GI Bill provides education benefits for service members who have served on active duty for 90 or more days since Sept. 10, 2001. The new bill covers 100% of tuition, provides money for housing and up to $1000 a year for books and supplies. Unfortunately, the Post 9/11 GI Bill cannot be applied to courses finished before July 2009.
Armed Forces Tuition Assistance, TA, is a benefit for eligible members of all the armed services. Each division can pay up to 100% of tuition expenses of its members. TA is not a loan, it’s like money a veteran has earned. Each arm of the military has its own criteria for eligibility, obligated service, application process. Unlike money from the GI Bill, tuition assistance is paid directly to the school.
In addition to federal and state aid, there are over $300 million in grants for college for members of the military, veterans and their families. To name a few categories, there are scholarships for disabled veterans, veterans of foreign wars, veterans of Operation Enduring Freedom. Even if your tuition is fully covered by the GI Bill, it’s a good idea to pursue private scholarships. The money can be used to cover the cost of books, fees, and living expenses.
Did you know you may have already earned college credit before you get there? Many colleges and universities will count years in the service as class credit. The American Council on Education, ACE, can help you and your school determine how many credit hours you earned while serving.
There are millions of dollars for veterans which helps avoid taking out student loans. The U-S government provides non-taxable money through the GI Bill and Tuition Assistance. There are also private scholarships and grants.