Financing education through the military college fund?

Hey everyone, I've been doing some research and heard about the military college fund. Can anyone explain how it works? Like, is it a scholarship, or is it more like a savings plan? And who's eligible for it?

The Military College Fund, often referred to as the Army College Fund (ACF), is a program that's designed to help individuals finance their post-secondary education. This program provides financial assistance on top of what you'd receive from the Montgomery GI Bill. As such, it's not a scholarship or a savings plan, but more of a supplemental educational benefit.

To be eligible for the ACF, there are several conditions you must meet. Firstly, you would need to be a high school diploma holder, and enlist for a military occupational specialty (MOS) that's eligible for the ACF. Additionally, you must score a 50 or higher on the Armed Services Vocational Aptitude Battery (ASVAB) test - which is a test the military uses to determine qualifications for enlistment.Once you're deemed eligible, you sign an enlistment contract stating that the Army College Fund is part of your enlistment agreement. Under this agreement, your educational benefits are determined based on the length of your enlistment term and your MOS. It's important to note that these benefits are disbursed directly to the school you attend and can be used to cover tuition, fees, books, supplies, and even housing.

It's crucial to mention that these benefits can yield substantial sums towards a college education, but they do come in return for a significant commitment – service in the U.S military. Therefore, it's not a decision to be taken lightly and it's encouraged that you take some time to discuss it with trusted advisers or family members before making a commitment.