Understanding Military Financial Aid

You are probably already aware of military financial aid for college costs. However you may not be familiar with the various programs available for which you may be eligible. One related program is the Post 9/11 GI Bill. This bill gives financial aid and even help with housing for students who have a minimum of 90 days service on or following September 11, 2001. This also applies to those discharged with a disability related to their service after a month, 30 days to be exact. Honorable discharge is required for eligibility.

This bill can be used for both undergraduate and graduate programs, as well as accredited trade schools. Any kind of certification or licensing costs related to education are also covered under this bill. The Post 9/11 GI Bill bases the amount paid towards your tuition on the highest tuition charged in your state. Also this amount may depend upon the type of degree you are trying to obtain and your geographic location. There are other types of educational assistance as well such as the Montgomery GI Bill.

The Montgomery GI Bill is for individuals who enlist in the U.S. military. You may see this bill abbreviated as MGIB. This bill covers both active duty and reserve members. Active duty is classified as Chapter 30 and Reserve is classified as Chapter 1606. The Active duty chapter requires members to pay $100 each month for a year, and once they have finished a minimum obligation of military service they are able to get their education financial aid each month. Reserves must be active and be obligated for 6 years in order to qualify.

Another type of aid is the REAP program. This financial aid program was established for Reserve members who are called to respond to national emergency or war as directed by Congress or the President of the United States. Also, reserve members who were active for a minimum of 90 days following 9/11 are able to get financial aid benefits as well. There is something called the buy up program, which allows reserve members to contribute up to $600 to their GI Bill in order to get higher benefits.

In addition to these types of military financial aid, there are other types of aid like Stafford loans, Perkins loans, grants, scholarships and private loans. However if you are, or were a member of the U.S. military it is wise to first investigate the special benefits you are entitled to, which can help you pay for a substantial portion of your higher education.






 

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Student loans: Step-children vs. biological - Seattle Post Intelligencer

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By CAROLYN HAX, SYNDICATED COLUMNIST Father helped send two sons to law school, though they have student loan debt they'll be paying for decades. Father has much younger stepdaughter. The sons are not particularly close with father's "new" family.

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