Many military veterans decide to go back to school following their service. But, college can be expensive. Fortunately, veterans have multiple options to fund their studies. As such, we’ll use this article to outline options veterans have for paying for college.

Specifically, we’ll discuss the following:

• Why College Makes Sense for Veterans
• Paying for College, Option 1: GI Bill
• Paying for College, Option 2: Yellow Ribbon Program
• Paying for College, Option 3: VA Work-Study Program
• Paying for College, Option 4: University Scholarships
• Paying for College, Option 5: Deployment Savings
• Paying for College, Option 6: Work and Attend School Part-Time
• Paying for College, Option 7: Federal Loans and Grants
• Final Thoughts

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Why College Makes Sense for Veterans

The military can provide tremendous real-world experience to service members. Troops learn teamwork, problem solving, and perseverance, among other skills. However, military service doesn’t always directly translate into life in the “civilian world.” Some veterans finish their service without a clear sense of what comes next. As a result, college can be a great option for veterans. Broadly speaking, three key college benefits exist for veterans:

• Find a job in a new field: Some veterans decide to continue their military job in a civilian role. Many others either A) don’t have that option, or B) want to do something new. A college degree can give you the knowledge and skills necessary to find a job in a new career field.
• Higher pay in a current job: Similar to the military, many civilian jobs require continuing education. For example, many teachers need to complete a master’s degree within a certain period of time. In business, an MBA may provide promotion opportunities. If you’ve already been out of the military for a few years, a college degree may provide you increased pay or promotion opportunities in your current civilian job.
• College as a transition/decompression period: Let’s be honest – military service can be stressful. And, multiple deployments don’t always allow you much time to think about your future. Recognizing this, college can be a great opportunity to decompress and transition into your new life as a civilian.

Considering these benefits, we’ve outlined seven different strategies veterans can use to pay for college.

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Paying for College, Option 1: GI Bill

The Post-9/11 GI Bill represents the absolute gold standard of college financing for veterans. Administered by the Department of Veterans Affairs, this program offers eligible veterans the following benefits:

• 36 months of tuition and fees up to the in-state, public school maximum
• A tax-free, monthly housing allowance while enrolled in school
• An annual book stipend of up to $1,000

To qualify for these outstanding benefits, veterans must have served at least 90 days of active duty following September 10th, 2001. However, to receive 100% benefits, veterans must have served 36 months or more of active duty or, if discharged due to a service-connected disability, at least 30 continuous days.

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Paying for College, Option 2: Yellow Ribbon Program

As noted above, the GI Bill has a tuition ceiling capped at the in-state, public school maximum. But, many veterans decide to pursue more expensive, private school degrees. In these situations, the GI Bill alone would not cover tuition, meaning that veterans would need to pay the difference.

Fortunately, the Yellow Ribbon Program tackles this problem. The program serves as a financing collaboration between universities and the VA. If your university has enrolled as a Yellow Ribbon participant, it will receive a certain number of eligible Yellow Ribbon slots per year. If you want to go to college and the Post-9/11 GI Bill doesn’t cover the full tuition, Yellow Ribbon serves a bridging function, with participating universities agreeing to pay a portion of the difference and the VA matching that contribution dollar-for-dollar.

For example, if a university agrees to pay $10,000 in Yellow Ribbon contributions, the VA will match that, meaning you receive a total of $20,000 in tuition above your GI Bill benefits. While this may not cover the entire difference, Yellow Ribbon payments can offset a significant amount of your out-of-pocket tuition expenses.

NOTE: Only veterans with 100% GI Bill benefits can use the Yellow Ribbon Program.

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Paying for College, Option 3: VA Work-Study Program

The VA also offers veterans the ability to “earn while they learn.” While enrolled in college, the VA allows eligible veterans to participate in its Work-Study Program. This program won’t pay for college, per se, but it will provide you income to offset any degree-related or living expenses. To qualify, you must:

• Be enrolled at least three-quarter time in college, and
• Have found a VA-related job, either at your school or in a nearby VA facility, and
• Be able to finish this work-study contract while still qualifying for VA education benefits, and
• Be using approved VA education benefits to pay for your education

If you meet these criteria, the VA will pay you the federal or state minimum wage, whichever is higher. And, if working at a university, the school may pay you the difference between that minimum wage and what it would normally pay for the job.

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Paying for College, Option 4: University Scholarships

This option requires more research and effort on the individual veteran’s part. Most universities offer some form of scholarship, especially ones with larger endowments. And, some of these scholarships are tailored specifically to veterans. When you narrow down the list of colleges you’d like to attend, research the individual scholarships those schools offer.

Why would I need scholarships if the GI Bill already covers my tuition?

If the GI Bill already covers your full tuition, it’s not uncommon for scholarships to pay you directly. In other words, if you apply for and receive a scholarship for $10,000 per year, that can be an extra $10,000 in your pocket every year if the GI Bill covers your tuition. However, veterans need to recognize that, in these situations, those scholarship funds would qualify as taxable income.

Bottom line, even if you don’t need to apply for these scholarships, the benefits can certainly justify the efforts.

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Paying for College, Option 5: Deployment Savings

These next three college payment options are tailored to veterans who plan on paying for school themselves rather than using education benefits. For instance, some veterans choose to transfer their GI Bill benefits to a spouse or child. If you’re considering this path but still want to pursue a degree yourself, you have some other options to pay for college.

When deployed, especially in a tax-free combat zone, you can save a lot of money. Some service members certainly get home and spend this money on a new car or massive weekend in Las Vegas. But, if you plan ahead, you can also set this money aside to pay for college. This requires tremendous foresight and discipline, but it is an option to pay for college as a veteran.

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Paying for College, Option 6: Work and Attend School Part-Time

College doesn’t need to be all-or-nothing. In other words, you can attend school part-time. This approach has been made even easier with online degree programs. And, for veterans eager to begin civilian careers, this has the added benefit of letting you begin work immediately following service.

Many civilian jobs do not require a degree to immediately begin working. But, getting a degree may provide promotion opportunities or increased pay within these careers. For veterans in these situations, it may make sense to work full-time and attend school part-time. As such, you can use your income to help pay for college classes.

This is not an easy approach, especially if you have a family. Working all day then coming home to do your school work requires a ton of time, effort, and discipline. But, it can also provide you a way to pay for college without taking on any debt.

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Paying for College, Option 7: Federal Loans and Grants

Federal – or any – loans represent the least desirable option to pay for college. As a veteran, you shouldn’t need to go into debt to finance school – too many better alternatives exist. Despite this reality, federal loans remain an option to pay for college. And, if you’re considering loans, federal ones typically offer far better terms than private ones.

The federal government also offers grants for college, which you don’t need to repay. Qualifying for these will depend on your unique financial and personal situation.

If you’d like to apply for federal loans or grants, you’ll need to complete the Free Application for Federal Student Aid (FAFSA).

Final Thoughts

Veterans have multiple options to pay for college – some better than others. At the end of the day, the Post-9/11 serves as the absolute best approach for veterans. There’s just no better college payment option, especially when you consider the tax-free monthly housing allowance it includes.

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Maurice “Chipp” Naylon spent nine years as an infantry officer in the Marine Corps. He is currently a licensed CPA specializing in real estate development and accounting.

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For service members, the reality of college doesn’t always align with the idea of college. This leads many veterans to struggle with staying motivated in college after the military. As such, we’ll use this article to provide some college motivation tips for veterans.

Specifically, we’ll discuss the following:

• How Military Veterans Should Use this College Motivation Guide
• College Motivation Tip 1: Remember Why You’re There
• College Motivation Tip 2: It’s Better than Deployment
• College Motivation Tip 3: It’s Better than a Job
• College Motivation Tip 4: You’re Still Getting Paid
• College Motivation Tip 5: It’s Another Challenge
• College Motivation Tip 6: To “Show Them”
• College Motivation Tip 7: Quit Whining
• College Motivation Tip 8: Admit When You Need Help
• College Motivation Tip 9: Maintain a Routine
• Final Thoughts

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How Military Veterans Should Use this College Motivation Guide

As a veteran, you’ve probably heard some version of what does the military think about [insert topic here]? In other words, many civilians look at the military as a single, monolithic entity – not a massive organization composed of an extremely diverse group of individuals. As veterans, we understand this reality. We know that each service member is motivated by his or her own experiences, desires, opinions, and just general individuality.

Recognizing this diversity, every veteran who attends college will struggle with his or her own challenges. But, if you’re reading this article, you share two common traits: 1) you’re a veteran, and 2) you’re having difficulty staying motivated in college. As a result, we wrote this article to help as many different veterans stay motivated as possible.

Every person will be driven by unique motivating factors, so the below tips won’t all apply to every veteran. Rather, we’ve provided a variety of motivational tips with the goal of giving every veteran at least one strategy for staying motivated in college. If you read all nine of the below tips and think eight of them are irrelevant to you, that’s fine. Find the tip that most resonates with you, and embrace that when trying to stay motivated.

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College Motivation Tip 1: Remember Why You’re There

In any challenging situation, remembering why you’re there in the first place can help motivate you. Think about military training. Some of this training proved more challenging than anything else military veterans have ever done. And, when things get particularly tough, it’s easy to want to give up. That’s when you need to remember, why’d I join the military in the first place? That reason – that purpose – can fuel you to keep going.

It’s no different with college. If you’re attending school after the military, there’s likely a reason why. It may be to find a better job, or to set an example for a child, or any other number of reasons. But, whatever that reason is, keep it fresh in your mind, and let it serve as motivation to keep pushing, even when things become challenging.

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College Motivation Tip 2: It’s Better than Deployment

Here’s another way to look at college. Even when you’re struggling to stay motivated, going to class in jeans and a t-shirt with a cup of coffee in your hand is probably better than deployment. No one’s shooting at you, you go home every night, and you have actual weekends. When you lack motivation, just remember how good you have it.

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College Motivation Tip 3: It’s Better than a Job

Similar to deployments, going to college is generally way better than slogging through a 9 to 5 job every day. When losing your academic drive, just remember this alternative. Think about how much better your life is going to class than to a job you despise. And, related to this, working hard in college can help you land a job you legitimately enjoy – further motivation.

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College Motivation Tip 4: You’re Still Getting Paid

If you’re using your GI Bill benefits, you’re getting paid to go to college. In addition to not needing to pay tuition, you receive a stipend every month. And, this monthly housing allowance is tax-free. So, when you find your motivation flagging, remember that things are pretty good. You’re being paid to go to school – and you’re not wearing a uniform!

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College Motivation Tip 5: It’s Another Challenge

Many veterans originally joined the military because of the challenge service offered. And, as things got difficult in the military, these individuals thrived. The more difficult the training, the greater the challenge to overcome. You can apply this same mindset to college. When you’re struggling to keep up your drive in an academic environment, think of it as another challenge. College represents just one more obstacle to overcome in a life full of tackling challenges.

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College Motivation Tip 6: To “Show Them”

Did you join the military because someone in your life said you couldn’t do it? This may seem ridiculous, but it’s not uncommon. Many veterans, whether they admit it or not, joined the service to prove something to someone. They looked at military service as a way to “show them,” to prove these people wrong.

This same approach can motivate you in college. As you find your drive waning, remember everyone in your life who said you’d fail. Don’t give them the satisfaction of quitting. Instead, let this doubt fuel your motivation to excel in college. Prove them all wrong.

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College Motivation Tip 7: Quit Whining

Have you ever been in the middle of a tough work-out or training and found motivation by telling yourself to quit being so soft? Either in the gym or the field, many veterans fuel themselves with this self-criticism. When they’re struggling to push forward, they “look in the mirror” and tell themselves to quit whining.

If this approach motivated you in the gym or military, it can push you in college as well. When struggling to stay motivated, tell yourself to quit whining so much. You’re a veteran, and you shouldn’t be so soft as to let college discourage you.

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College Motivation Tip 8: Admit When You Need Help

Veterans don’t like to admit it, but sometimes we need help. And, if we go too long without asking for it, our motivation can suffer. Whether you’re struggling with mental health or your academics, there’s no shame in asking for help. If you feel like you’re sinking, your drive to succeed in the classroom will fade.

Don’t let mental health or academic problems derail your education. If you’re having problems, ask for help. With mental health, talk to fellow veterans, go to the VA, try meditating – just do something. There’s absolutely no shame in seeking support. Similarly, it’s okay if you need help with your classwork. As a veteran, you’ve likely been out of the classroom for a long time. If you ask for it, professors, teaching assistants, and fellow students will help.

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College Motivation Tip 9: Maintain a Routine

Leaving the military can be a tremendous culture shock to veterans. We go from having our entire lives strictly regimented to a college life with no schedule. This massive change can derail a veteran’s motivation quite quickly. When you no longer need to wake up for morning formation and PT, why set your alarm at all? If you continue this line of reasoning, pretty soon you won’t have the motivation to do anything productive.

You can combat this negative outcome by establishing and maintaining a solid daily routine. Even if you have classes at different times every day, you can build a routine. Set your alarm. Make your bed. Go to the gym. Eat three meals a day. Schedule library time to do your work. Go to bed at the same time every night. How you structure your day doesn’t matter as much as just structuring it. Regular routine can go a long way towards keeping you motivated in college.

Final Thoughts

As veterans, we’re unique individuals. But, we also face some common challenges, and staying motivated in college can be one of those. It doesn’t matter which of the above tips works best for you. What matters is that you find a way to stay motivated in college after the military, and you embrace that approach.

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Maurice “Chipp” Naylon spent nine years as an infantry officer in the Marine Corps. He is currently a licensed CPA specializing in real estate development and accounting.

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What happens if a veteran is overpaid when the VA sends out benefit checks or electronic payments? It can and does happen and if you receive or are about to start receiving VA benefit payments, it helps to know what your rights and responsibilities are to make sure you get the amount you are entitled to receive from the Department of Veterans Affairs.

Overpayment of VA Benefits

You may be overpaid for VA benefits for a variety of reasons, and those reasons can vary depending on the nature of your benefits. Some immediately think of the GI Bill when contemplating overpayment but there are a variety of scenarios that could result in a veteran getting more money than they were supposed to. They include:

• Failure of the veteran to make a required co-pay for VA care
• Failing to report to the VA that a school-age dependent child has married
• Dropping out of school while receiving VA education benefits
• Being incarcerated
• The Vocational Rehabilitation program spent funds to help a Veteran, who later drops out of the program “without good reason”
• Those receiving a VA income-based pension who fail to report a change in income
• A Veteran has a change in marital status and fails to notify the VA
• Death of a dependent that is not reported to the VA

And yes, there are specific scenarios associated with the GI Bill that can result in overpayment. They include:

• Lowering the number of classes
• Quitting school
• Otherwise lowering the time spent in classes after payments have already been processed

Changes in a student’s credit hours can affect a variety of VA payments including the housing stipend offered under the Post 9/11 GI Bill and the books/supplies stipend.

In normal cases the school’s certifying official will notify the VA of any changes to the schedule or student status of the veteran. In such cases, the VA notes the overpayment and sends a message to the student to inform them of the debt created against their VA account.

The VA official site reminds that even when a school issues refunds in accordance with their written policies, if the amount paid by the school does not cover the student’s indebtedness with the VA, the student is responsible for paying the difference. In cases where the school refunds money directly to the student, the VA official site advises, “you must clear the debt with us.”

How Does The VA Know?

We’ve already mentioned that in the case of GI Bill overpayments, the school notifies the Department of Veterans Affairs. But what about in other cases? How does the VA know that a veteran’s school-age dependent child has married? Or any of the other causes of potential overpayments?

In some cases it’s because the VA has had information shared with it from other federal agencies.

There are other methods, but the bottom line is that when there is change to legal status that is placed on file with a federal agency (tax information, name changes, etc.) it may eventually make its way to the Department of Veterans Affairs.

In cases where the veteran simply fails to report changes that could affect benefit payments, when the official records begin to catch up to the VA, it’s likely that a VA debt management letter could be on the way soon.

What To Do If You Get A Debt Management Letter From The VA

Those who receive VA benefits and receive a debt management letter should contact the VA Debt Management Center as soon as possible to resolve the issue. The Department of Veterans Affairs relies on this center as the main source of VA debt collection and management help.

Call 1-800 827-0648 or e-mail the Debt Management Center at [email protected].

What Happens If I Don’t Respond To A VA Debt Management Letter?

If you were overpaid or thought to have been overpaid by the VA, you have sixty days to respond to the Debt Management Letter. After 60 days, the debt is sent to the VA Debt Management Center and the veteran is notified of how the VA intends to collect the debt.

How The VA Collects Debts

You may have your benefits reduced as a consequence of the debt until the money is fully repaid. You have the option of contacting the VA Debt Management Center to arrange a payment plan, but in cases where no response from the veteran happens the VA warns that delinquent VA debt is turned over to the U.S. Treasury Department for what the VA terms, “forced collection.”

Some VA debt may be forgiven if the borrower applies for a waiver. This is not always possible, but don’t assume you cannot qualify for such a waiver. Contact the VA Debt Management Center or use a Veterans Service Organization to help you. The VA advises that in cases of “intentional fraud,” waivers are not possible.

What If I Need To Dispute A VA Debt?

As mentioned above, once you have received a debt letter from the VA you have 60 days to respond. In cases where you feel the debt is inaccurate or you otherwise disagree with the VA decision to collect, you have 60 days to file a Notice Of Disagreement with the Department of Veterans Affairs.

Be prepared to file this notice with supporting evidence or documentation of your claim. It’s best to submit the most complete notice you can. Don’t try to file the disagreement without submitting evidence to back up your claim. Call 1-800 727-1000 to get help on what specific information may be required for your specific VA debt as no two cases are the same.

Using Other Benefits

VA rules state that you are not blocked from using other VA benefit programs you may qualify for even if you have a debt in one current benefit program. The Department of Veterans Affairs says in cases where a repayment plan is active, that payment plan only applies for the debt under that specific benefit.

The VA official site states, “Once you elect to receive benefits under another program, the debt will be recouped from your last payment under your current benefit program, up to the full amount of your last payment.”

That means the last payment is completely recouped, “unless an amount lesser than the amount of the last payment pays the debt in full.”

In situations where the VA indebtedness is not fully repaid, “we will transfer the remaining amount of the debt to the new benefit program and the payments under the new benefit program will be reduced until the debt is paid in full.”

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Joe Wallace is a 13-year veteran of the United States Air Force and a former reporter for Air Force Television News

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As veterans transition out of military service, many decide to pursue a graduate degree. But, this education can be expensive, leading to the question of how veterans can finance graduate school. As such, we’ll use this article to outline different options veterans have to finance their graduate degrees.

Specifically, we’ll cover the following:

• Post-9/11 GI Bill
• Yellow Ribbon Program
• Veteran Readiness and Employment (formerly “Voc Rehab”)
• Scholarship Options
• Federal Student Loans
• Private Student Loans
• Future Earnings?
• Final Thoughts

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Post-9/11 GI Bill

For veterans looking to attend graduate school, the Post-9/11 GI Bill remains the absolute best financing option.

While the GI Bill began with the Servicemen’s Readjustment Act of 1944, the current, Post-9/11 version offers particularly outstanding education benefits for veterans. Of note, eligible veterans can receive up to 36 months of the following:

• Tuition and fees: The GI Bill will cover up to the in-state, public school maximum for graduate school tuition and fees.
• Monthly housing allowance: In addition to tuition and fees, the VA will pay eligible veterans a cost-of-living-adjusted, tax-free housing stipend while they are enrolled in classes. For veterans with families, this stipend can make a huge difference in the decision to attend graduate school full-time, as it allows you to focus on your education while still knowing you’ll have housing expenses largely covered.
• Book stipend: Graduate school books are expensive. Fortunately, the GI Bill provides veterans up to $1,000 in tax-free book stipends to help offset these costs.

To use this benefit, veterans first need to confirm their eligibility by applying directly with the Department of Veterans Affairs (VA). Once the VA confirms eligibility, it will issue veterans a Certificate of Eligibility, which outlines the percentage of benefits available and time remaining. Certifying officials at your graduate school of choice can help you navigate applying these benefits to your tuition.

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Yellow Ribbon Program

If you’re considering attending a private graduate school, you likely noticed in the above section that the GI Bill covers the in-state tuition and fees for public schools. Does this mean that you’ll need to pay the difference out-of-pocket if you attend a more expensive private school?

Not necessarily.

If you qualify for 100% Post-9/11 GI Bill benefits and your school participates in the Yellow Ribbon program, you may not need to pay anything. Yellow Ribbon acts as a financing mechanism meant to bridge the gap between what the GI Bill will cover and the actual cost of tuition for more expensive private graduate schools.

If your target graduate school participates in the program, you can apply directly with the school for one of its Yellow Ribbon spots. Then, the school will pay a certain amount towards your tuition (up to the GI Bill maximum), and the VA will match that amount!

For example, if your graduate school decides to contribute $20,000 in Yellow Ribbon benefits, you’ll receive: A) your Post-9/11 GI Bill tuition and fees up to the in-state, public maximum; B) the $20,000 directly from the school; and C) another $20,000 from the VA matching the school’s Yellow Ribbon contribution.

While the specific graduate school will dictate whether or not these Yellow Ribbon proceeds cover all tuition and fees, they certainly go a long way to offsetting out-of-pocket costs for private graduate schools.

NOTE: If you’re interested in a particular private graduate school, the best option for determining out-of-pocket expenses is reaching out to a currently enrolled veteran at that school. Most US graduate schools have some version of a veterans’ club, and these are great places to find veteran points of contact.

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Veteran Readiness and Employment (formerly “Voc Rehab”)

Formerly known as “Voc Rehab,” Veteran Readiness and Employment (VR&E) offers another potential option for veterans with a service-related disability to finance graduate school. Per the VA, this program is meant to assist veterans with service-connected disabilities to obtain suitable employment. And, within this mission, some eligible veterans will qualify for graduate school tuition assistance through VR&E.

However, it’s important to note that, unlike the GI Bill, VR&E does not guarantee all veterans education benefits. Rather, for service members with disabilities that limit their ability to work in some capacity, VR&E may provide employment support services, to include graduate school tuition.

In other words, VR&E represents more of an it depends option for financing graduate school. Each veteran’s unique situation will determine whether he or she qualifies for graduate school benefits through this program. Fortunately, though, the VA makes applying for the program fairly straightforward, meaning you don’t lose anything by applying.

To apply for VR&E benefits and determine whether the program will cover graduate school tuition, take the following steps:

1. Sign into eBenefits.
2. Select “apply.”
3. Select “Veteran Readiness and Employment Program.”
4. Apply for “Education and Career Counseling.”
5. If deemed eligible, the VA will invite you to an orientation session where you can discuss specific benefit options.

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Scholarship Options

Unfortunately, many veterans decide to use their GI Bill benefits for graduate school and therefore don’t consider pursuing other scholarship options. The thought process goes like this: The GI Bill’s covering my tuition, so why would I need a scholarship?

Because you may be able to use any scholarship dollars you receive beyond tuition and fees for other expenses!

During a year or two of graduate school, you’re going to have far more expenses than solely tuition: housing, food, and travel, just to name a few. While your GI Bill monthly housing allowance will certainly help with some of these, it may not cover everything. As such, you don’t have anything to lose applying for scholarships (except the time and effort to apply), but you potentially have thousands of dollars to gain.

Here’s a basic example. If you attend a public graduate school, the GI Bill will cover your tuition and fees. If you also receive a $10,000/year scholarship, that means you could use that $10,000 for other expenses, as your tuition and fees are already covered by the GI Bill.

Broadly speaking, graduate school scholarships fall into one of the following two categories:

• School-specific: These are scholarships unique to a particular graduate school. And, many schools include scholarships solely for veteran students. Ask your target graduate schools for any such scholarships they may offer.
• Private: These are veteran-specific scholarships provided by private foundations or charities that can be used at any graduate school. A cursory online search will show you the dozens of private scholarship options available to veterans.

NOTE: For tax purposes, veterans need to understand that any scholarship funds received beyond qualified education expenses qualify as taxable income.

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Federal Student Loans

If, after looking at all of the above options, financing your graduate school program still seems out of reach, you can take out federal student loans.

For graduate school students, your primary federal loan option will be federal direct unsubsidized loans (as opposed to subsidized loans, which have slightly better terms but are only available to undergraduate students).

According to Federal Student Aid (an office of the US Department of Education), direct unsubsidized loans are available to graduate students, and you are not required to demonstrate financial need.

Your actual graduate program will determine the amount you can borrow, which is based on cost of attendance and any other financial aid you receive.

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Private Student Loans

As a final option, veterans can consider private student loans to finance graduate school. If you’re not sure what you want to do after graduate school (and therefore can’t accurately forecast future earnings), private, income-driven student loans may be a good option.

With these loans, lenders put a ceiling on repayments between 10% and 20% of your discretionary income. Put simply, instead of needing to pay a set amount every month, your payments will be based on how much money you’re making, which provides far more financial flexibility.

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Future Earnings?We’ve intentionally made this section heading a question.

Statistically speaking, a veteran with a graduate degree will make more money than one without a graduate degree. As such, many veterans (and people, in general), rationalize going into debt for expensive degrees by looking to future increases in income.

But, don’t you have better uses for this future income than paying graduate school tuition?

Bottom line, rather than justifying massive student loans to finance graduate school with a future increase in earnings, veterans are better off A) pursuing every benefit and scholarship option above to attend graduate school without going into debt; and B) putting their increased earnings to better uses (e.g. investing, buying a home, starting a business, etc.).

Final Thoughts

Transitioning out of military service, graduate school represents an outstanding option for many veterans. And, armed with the above information, you can pursue a plan to finance graduate school that best fits your unique situation and goals

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Maurice “Chipp” Naylon spent nine years as an infantry officer in the Marine Corps. He is currently a licensed CPA specializing in real estate development and accounting.

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