Financial Aid for Military Service Members and Student Veterans

Post-9/11 GI Bill® (Chapter 33): Military service members who served at least 90 days of active duty after September 10, 2001, may qualify for this educational benefit. The Post-9/11 GI Bill pays for college tuition and fees for up to 36 months. The VA covers the cost of public, in-state tuition and up to $26,381.37 for private or international schools per year. Recipients may also receive monthly housing payments and annual book stipends.

Service members who left service before January 1, 2013, have 15 years to use their benefits. Benefits never expire for service members who left service after that date. This program also allows service members to transfer any unused benefits to a spouse or child. Individuals should review the VA's website for additional information on criteria and benefits.

Yellow Ribbon Program: The Yellow Ribbon program provides additional financial support to students who attend a school where tuition and fees exceed the maximum Post-9/11 GI Bill benefit available by law. In practice, schools agree to cover a portion of the remaining tuition and fees for qualified students, and the VA matches that contribution.

Yellow Ribbon agreements cover a set number of students each year. Be sure to apply early to ensure funding. Note that schools may offer tiers of support for undergraduate, master's, and doctoral students. Funding also depends on other financial aid students receive, such as scholarships or grants. Individuals should review the VA's website for additional information on Yellow Ribbon program criteria and benefits

Montgomery GI Bill: The VA offers two types of Montgomery GI Bill programs: active duty and selected reserve. This program also provides up to 36 months of benefits. Unlike the Post-9/11 GI Bill, the Montgomery GI Bill pays all benefits directly to the student. Student veterans can only receive benefits under one program at a time.

The active-duty program requires students to have completed at least two years of active-duty service. The selected reserve program requires a six-year commitment after June 30, 1985. Individuals should review the VA's website for additional information on criteria and benefits for Montgomery GI Bill programs.

Veterans' Educational Assistance Program (VEAP - Chapter 32): Service members who served between January 1, 1977, and June 30, 1985, may qualify for this military student savings program.

Benefits for members of the Air Force are limited to those who first entered the service between December 1, 1980, and September 30, 1981. They also must have served in specific jobs at particular duty stations.

Participants must contribute $25-$2,700 into a VEAP account, which the federal government matches. Student veterans can use their VEAP funds to pay for college, non-degree training, apprenticeships, test fees, and correspondence training. Veterans have 10 years from the time they are released from active duty to use this benefit. The VA will refund their contribution if the service member does not use the money. Individuals should review the VA's website for additional VEAP criteria and benefits information.

Survivors' and Dependents' Education Assistance (DEA - Chapter 35) Program: Children and spouses of military service members who died, were captured in the line of duty, or are disabled due to a service-connected injury or illness qualify for this program. The program offers a monthly payment to cover educational expenses, career counseling, and on-the-job training. Benefits last for 36 months.

Children qualify for the program between the ages of 18 and 26. Children receiving benefits under the DEA program cannot also receive dependency and indemnity compensation (DIC) from the VA.

Spouses are eligible for benefits for up to 10 years on the date the VA determines eligibility or following the death of a veteran or service member. However, spouses of military members who become permanently disabled (with an effective date three years after discharge) or die in active duty are eligible for benefits up to 20 years. Spouses may use DEA and DIC benefits. Individuals should review the VA's website for additional information on DEA criteria and benefits.

Student Loan Repayment Program: Federal agencies may offer veteran student loan relief to recruit or retain employees. Loan recipients must meet specific requirements, and payments may not exceed $10,000 a year. The student must repay any additional loans or loan balances. Learn more about student loans, repayment options, and public service programs for veteran student loan forgiveness.

The Servicemembers Civil Relief Act: The SCRA caps interest rates on loans for military service members called to active duty. The act also protects active-duty military members from default legal judgments and foreclosure or repossession. Additionally, it gives them the ability to break a lease without penalty.

Federal Supplemental Educational Opportunity Grants: Undergraduate students with exceptional financial need qualify for $100-$4,000 a year toward their education. The FSEOG program provides support beyond the Federal Pell Grant Program. Schools receive a limited amount of funding for this program, so students should apply for financial aid early.

Iraq and Afghanistan Service Grants: Students whose parent or guardian died in military service in Iraq or Afghanistan after September 11, 2001, may qualify for this grant. Students must enroll in college at least part time and be younger than 24 years old.

Teacher Education Assistance for College and Higher Education Grants: TEACH grants offer up to $4,000 each year to students pursuing teaching degrees. Recipients agree to teach in high-need schools or fields for at least four years following the completion of their education. If they fail to work at such schools and/or in these specific areas, the grant converts to a loan that must be repaid.