Top 4 Military Aid Programs for the College-Bound
by Mara Strom
With the cost of college skyrocketing (the national rate of inflation on tuition is 7.2% a year — and rising), many students are looking for creative ways to pay for school.
There are a number of education benefits available to those serving in the US Armed Forces and their family members as well as to veterans. Here are the Top 5 financial aid programs you should know about.
1) Military Tuition Assistance
Tuition Assistance (TA) is a federally funded education benefit for members of the US Armed Forces. TA can be used to fund up to 100 percent of your total educational expenses (not to exceed $250/semester-based credit hour).
2) The Montgomery GI Bill
This mammoth federal bill to aid veterans, the GI Bill will typically fund about three-fifths of your in-state college education. Beneficiaries are still eligible for traditional forms of federal and state financial aid, including the Pell Grant, Stafford student loan and federal work-study.
3) Private Scholarships
Members of the military, veterans and their family There is over $300 million in private student scholarships for college and grants available for members of the military, veterans and their families.
4) State Tuition Assistance
Almost every state in the Union offers its veterans and the military dependents some form of educational assistance. The most common: fee waivers or reductions for military dependents or veterans.