Military Funding For College

Getting an education isn't cheap, and many students struggle to figure out how to pay their way through school. Many end up taking out loans, which must be repaid. But there is another option. If you join the U.S. Armed Forces, or if you're a spouse or dependent of someone who serves in the Armed Forces, there are many ways you can pay for an education. Military Financial Aid Programs The Montgomery G.I. Bill provides for an education incentive to help the Army, Navy, Air Force, Marine Corps and Coast Guard, in addition to Reserves and National Guard, find new recruits.

Veterans earn up to 36 months of education benefits, a total of more than $36,000 toward their education. There are also tuition assistance programs if you've enlisted, which allow you to sign up for courses at accredited schools. The program will pay as much as 100 percent of the course's cost. In addition, the four main branches of the military offer a tuition assistance program that adds onto the money you can get through the Montgomery G.I. Bill. If you've already borrowed money for an education, through a Perkins Loan, Stafford Loan, PLUS Loan or Federal Consolidation Loan, the Student Loan Repayment Program can help, paying back as much as $65,000.

ROTC and the U.S. Service Academies offer ways to pay for an education before you serve in the U.S. military. You just have to make a commitment to serve once you've graduated. These programs will pay nearly the entire cost of your schooling. Other Sources: Scholarships While wars rage on in Afghanistan and Iraq, many organizations are committed to providing service members with scholarship opportunities for themselves and their dependents. For example, the Horatio Alger Military Scholarship was designed specifically for veterans of these conflicts, and will distribute $10 million to honorably discharged veterans who fought in these two wars.

Many other scholarships are offered through various organizations, such as the American Legion, AMVETS, Veterans of Foreign Wars and others. The Society of Daughters of the U.S. Army (DUSA) offers a unique program, with $1,000 scholarships available to daughters and granddaughters of active-duty or retired Army officers.

Find Out More If you're a high school student looking for ways to fund your education, you can get a lot more information from your guidance counselor. If you're pretty sure you want to sign up for active-duty service, you might consider heading over to a recruitment office, but be aware that the recruiters will be doing a "hard sell" to get you to enlist. If you're an active-duty service member or a veteran, you should check in with the Department of Veterans Affairs. They'll have a lot more information about the educational opportunities available to you.

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