Financial aid for Military and Their Dependents

"Financial aid for Military and Their Dependents" submitted by SchoolGrantsfor Editorial Team and last updated on Monday 9th January 2012

Starting in August 2009, veterans who served after September 11, 2001, became eligible under the Post-9/11 GI Bill for full tuition and fees, a monthly housing stipend, and a stipend of up to $1,000 a year for books and supplies. (The amount is based on time served, and the cost of in-state tuition and fees plus books and housing; unused benefits can be transferred to a spouse or children.) Guard and Reserve members who were activated for more than 90 days since September 11, 2001, gained access to the same benefits.

Education benefits are also available for disabled veterans, and survivors and dependents of veterans. You may be eligible for a fee waiver at a public college if you have financial need and are the child or dependent of a service-connected disabled or deceased veteran, or the recipient or the child of a recipient of a Congressional Medal of Honor.

Definition of Military Service:

  1. The student/recipient is in the United States Armed Forces Reserves or National Guard and is called on active duty status or is performing emergency state service with the National Guard or voluntarily enlists and enters on active duty as a member of the regular United States Armed Forces during a National Emergency declared by the President of the United States or when the United States is engaged in armed conflict.
  2. Certification Requirements. The student/recipient must submit:
    1. a completed exception request form including official college transcripts, the dates of the required leave of absence, necessity of withdrawing, dropping hours, etc., the semester(s) or number of days involved, and the length of duty (beginning and ending dates); and
    2. a written certification from the commanding officer or regional supervisor including the dates and location of active duty; or
    3. a certified copy of the military orders.
  3. Maximum Length of Exception. Up to the length of the required active duty service period, not to exceed four years.

Montgomery GI Bill For Military and Their Dependents

Through the Montgomery GI Bill, active-duty service members and veterans can receive a monthly benefit. This tax-free benefit can be used for tuition, books, fees and living expenses while earning a certification or degree (including undergraduate and graduate degrees), or attending trade school.

Starting in August 2009, veterans who served after September 11, 2001 became eligible under the Post-9/11 GI Bill for full tuition and fees, a monthly housing stipend, and a stipend of up to $1,000 a year for books and supplies. (The amount is based on time served, and the cost of in-state tuition and fees plus books and housing; unused benefits can be transferred to a spouse or children.) Guard and Reserve members who were activated for more than 90 days since September 11, 2001, gained access to the same benefits.

Education benefits are also available for disabled veterans, and survivors and dependents of veterans. You may be eligible for a fee waiver at a public college if you have financial need and are the child or dependent of a service-connected disabled or deceased veteran, or the recipient or the child of a recipient of a Congressional Medal of Honor.

Tuition Assistance for active-duty personnel

Tuition Assistance is a benefit of the Armed Forces and pays up to 100% of tuition for active-duty personnel to take classes when off-duty. The benefits are available to members of all branches of the military. However, the limits on the amount per credit hour and limits per fiscal year are fairly low given current high tuition costs. Tuition Assistance is often used in conjunction with the GI Bill “Top-Up” program and other non-military federal financial aid programs.

Available Federal Grants and Loans For Military and Their Dependents:

Direct Loans Stafford (Unsubsidized*) FAFSA (Worksheet) Yes Variable up to 8.5% $6,625 1st Yr $7,500 2nd Yr $10,500 3rd Yr Federal Govt.
Direct Loans Stafford (Subsidized**) FAFSA (Worksheet) Yes Variable up to 8.5% $6,625 1st Yr $7,500 2nd Yr $10,500 3rd Yr Federal Govt.
Federal Family Education Loan (FFEL) (Unsubsidized*) FAFSA (Worksheet) Yes Variable up to 8.5% $6,625 1st Yr $7,500 2nd Yr $10,500 3rd Yr Private Banks
Federal Family Education Loan (FFEL) (Subsidized**) FAFSA (Worksheet) Yes Variable up to 8.5% $6,625 1st Yr $7,500 2nd Yr $10,500 3rd Yr Private Banks
Perkins Loan FAFSA (Worksheet) No Fixed 5% Up to $4000 per Year Schools
PELL Grant FAFSA (Worksheet) No N/A Up to $4,000 per Year Federal Govt.
Federal Student Education Opportunity Grant (FSEOG) FAFSA (Worksheet) No N/A Up to $4,000 per Year Federal Govt.

Sign Denotes:

*Unsubsidized - With the Unsubsidized Stafford loan, the interest begins compounding as soon as your school receives the money. When considering which loans to accept, you need to know that the interest on an unsubsidized loan can really add up over four years. If you choose to take an unsubsidized Direct Loan, we recommend that you consider making monthly interest payments as you go.

**Subsidized - With the Subsidized Stafford loan, you are not charged interest until 6 months after you leave school. This can mean a huge savings, considering you may be in school for more than four years.

For more information on the GI Bills and other education benefits for the military and veterans, contact your college’s veterans affairs office or the local office of the U.S. Department of Veterans Affairs, call toll-free 888.442.4551 or go to www.gibill.va.gov.

Education is one of the greatest benefits of serving in the Armed Forces. As a service member, veteran, or family member, you have special opportunities that can help provide money for school, support, and ways to save both time and money. Unlike the GI Bill, these programs are paid through the school; however, like the GI Bill, Federal Student Aid is designed to assist you in meeting the cost of tuition, books, fees, and living expenses while you go to school. Check Details About Federal Financial Student Aid Programs, Scholarships and other Benefits For Military and Their Dependents, Visit: http://www.military.com/education

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