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Financial Aid For Veterans

Article on Financial Aid For Veterans

The men and women serving in the United States Army put their lives at risk for the country. They also leave their families behind when enrolling, many times specifically in order to become better able to provide for them. To reward soldiers’ service, special benefits packages were passed by the U.S. Congress. Included in these benefits are different types of financial aid for veterans. This article provides an overview of the most important options for federal financial aid for veterans and some of the issues which should be taken into account when applying.

The Montgomery and Post-9/11 GI Bills

If at the end of World War I veterans were only thanked for their service with a train ticket back to their homes, in 1944-at the end of World War II, the GI Bill was passed. The so-called Montgomery GI Bill provided financial aid for veterans who wanted to pay for college, up to a sum of $40000 per person, claimable over a period of ten years since the soldier had been discharged. In 2005 the GI Bill was re-hauled, through the Post 9/11 GI Bill. Covering retroactively all veterans since 2001, the Bill pays tuition directly to colleges and provides for other school-related expenses.

The REAP and VEAP Financial Aid for Veterans Programs

Besides the GI Bill, effective immediately after discharge, there are two other programs that can help current certain groups of former army men and women pay for their education. REAP-Reserve Educational Assistance Program was established in 2005; it makes eligible for educational benefits those reservists mobilized for duty in the 90 days after 9/11. The Veterans Educational Assistance Program (VEAP) covers those who began active duty between 1977 and 1985 and chose to contribute annually to the program; through VEAP, the government matches each dollar contributed by the GI with another two dollars meant to cover education expenses. Unfortunately, this program does not function for those currently serving.

Applying for Financial Aid for Veterans

Most veterans can apply online for financial aid, by filling in the VONAPP form. The process is simple enough, yet it is preferable to seek the counsel of someone in a Veterans’ Affairs Office before applying. Employees there can help with the paper work, provide in-depth information about the eligibility for certain types of benefits and point those interested towards private scholarships and loans created with veterans in mind.

Although Veterans Affairs Offices are most qualified to answer questions about financial aid for veterans, certain things should be kept in mind when considering claiming these benefits. For example, veterans should be aware that eligibility for these benefits is usually conditional on having been honorably discharged. Also, those interested should apply well in advance for certain programs since the application process may sometimes end months before the beginning of the academic year for which funding is requested.

Because those serving in the army have to sacrifice a lot in doing their jobs, there are a lot more government educational subsidies available to them than for the rest of the population. This is why many veterans do not have to struggle so much to find financial aid. Nevertheless, if the federal government funding is not sufficient, those who served in the army should research the many scholarships awarded by private foundations and organizations.