VA Education Benefits: Scholarships and Loan Repayment
The Veterans Association offers a number of veteran education assistance programs, including scholarship and loan repayment opportunities. Specifically, school loans, scholarships, financial aid, and tutorial assistance are available for military personnel and (occasionally) their dependents, according to the program and its limitations. The number of programs each veteran is eligible for, and the amount of benefits available to that individual will vary according to the branch of enlistment and total duration of service. Let’s take a look at the various military education programs that offer scholarships and loan repayment assistance for veterans.
The Montgomery G.I. Bill
The Montgomery G.I. Bill (MGIB) is available to military personnel who are active duty, veterans, and reservists. This bill is often referred to as the most beneficial educational assistance programs offered to Armed Forces personnel. The funding from this program can be applied to any accredited school, including universities and community colleges. After release from your active duty tour, your G.I. Bill entitlement must be used within the next ten years; if it is not used within the allotted time, a refund will be issued to the individual. Although the G.I. Bill requires a $100 monthly installment throughout the course of a year, the program has the potential to pay out a maximum of $1,075 per month during a veteran’s full time study.
Armed Forces Tuition Assistance
The Armed Forces Tuition Assistance Program is a perfect example of a VA military scholarship, and offers academic financial aid to military personnel in the Army, Navy, Marines, Air Force, and Coast Guard. The funds secured from this scholarship can actually be used with the Montgomery G.I. Bill in the event tuition reaches an excess of $4,500. Also known as the “TA” program, this financial aid opportunity has the potential to cover the entirety of a military personnel’s tuition, eliminating the need for taking student loans. The required duration of service is six years, and is well worth it.
Military College Loan Repayment Program
Also known as the CLRP, the Military College Loan Repayment Program is offered as a signing incentive to new enlistees. The program is offered as needed by each respective branch of the armed forces, ultimately depending on enlistment numbers and need for personnel. The program is unique in the sense that it offers funding for academic courses that have already been completed, and repays 33.1/3% of each servicemen’s’ outstanding loan balance. Although payment caps can vary according to military branch, the federal limit is currently set at $65,000. The following loans are considered eligible for the CLRP Program.
- Consolidated Loan Programs
- (FISL) Federally Insured Student Loans
- (ALAS) Auxiliary Loan Assistance for Students
- (PLUS) Parent Loans for Undergraduate Students
- (SLS) Stafford Student Loan Supplemental Loan for Students
Military Scholarships- Reserved Officers’ Training Corps (ROTC)
The ROTC, or Reserved Officers’ Training Corps, is a military scholarship available to individuals between the age of 17 and 26 who want to graduate college prior to enlisting. Individuals who take this opportunity have the chance to enlist as an officer immediately after graduation, with a portion of their tuition covered by the program. The general requirements for this program demands that each accepted individual must maintain their physical integrity throughout the course of their studies. Furthermore, each enlistee is required to contractually agree to serve as an officer in a branch of the armed forces immediately after graduation, and enroll in a military science course at some point during the required full-time class load. As a prerequisite, a mandatory SAT of 920 or more is set as a requirement for each student.
Educational Assistance for Dependents
The VA offers a number of scholarships for the dependents of deceased, active, honorably discharged, and disabled veterans. The program offers education benefits for veterans’ spouse and children of enlisted or discharged servicemen and women, although the exact amount of funding and its acceptable usages will vary according to the branch of military each applicant belongs to. Take a look at the list of programs that offer tuition assistance and scholarships to the spouse and children of military personnel.
- The CGMA- Coast Guard Mutual Assistance
- The DEA- Dependents’ Educational Assistance
- The STAP- General George S. Brown Spouse Tuition Assistance Program for the Air Force
- General Henry H. Arnold Education Grant Program for the Air Force
- The SOC- Service members’ Opportunity Colleges Degree Program
- The SEAP- Spouse Educational Assistance Program for the Navy and/or Marines
- The STAP- Spouse Tuition Ai Program for the Navy and/or Marines
- The Admiral Mike Boorda Seaman-to-Admiral Educational Assistance Program for the Navy and/or Marines
- The Montgomery G.I. Bill (transfer the GI bill)
- VADM EP Transfers Scholarship and Loan Program for Marines and/or Navy