I'm going to be a veteran by the time I start applying to colleges next year. I've heard there's a lot of financial help available, specifically grants, for veterans like me. Can anybody shed some light on this?
Indeed, as a veteran, you do have multiple financial aid options available to you for college. Grants are a type of financial aid that do not need to be repaid, and there are a variety available specifically for veterans.
1. Post-9/11 GI Bill (Chapter33): This bill provides financial support for education (and housing) to individuals with at least 90 days of service on or after Sept 10, 2001. Depending on your duration of service, you could receive up to 100% coverage for tuition and fees at an in-state public school, or a certain maximum amount per academic year at a private or foreign school.
2. Montgomery GI Bill (Chapter 30 & 1606): This bill provides education benefits to veterans and service members who have contributed towards the program during their enrollment. The benefits can be used for a degree and certificate programs, flight training, apprenticeship/on-the-job training and correspondence courses.
3. Veterans Educational Assistance Program (VEAP): This is available if you chose to make contributions from your military pay to participate in this education benefit program.
4. Yellow Ribbon Program: If your tuition and fees exceed what the Post-9/11 GI Bill covers (due to attending a costly private school or graduate program, for example), the Yellow Ribbon Program can help. This program allows schools to voluntarily enter into an agreement with VA to fund tuition costs that exceed the highest public in-state undergraduate tuition rate.
5. Federal Grant Opportunities: Apart from veteran-specific grants, you are also eligible for Federal grants such as Pell Grants and serves as an excellent source of funding.
It is highly recommended you look into each of these grants to see which would benefit you the most based on your individual circumstances. Also keep in mind each college and university might have institutional grants and scholarships for veterans. Be sure to check with the financial aid office at each school you're considering. Finally, remember to fill out the FAFSA (Free Application for Federal Student Aid) as it is required to receive most of these benefits.
Good luck with your college applications!
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