With a new academic year about to begin, you may be one of the thousands of military transitioners returning to school as a civilian. Did you know the Post-9/11 GI Bill may not cover all your tuition and fees at the educational institution you plan to attend?
The bill only covers tuition and fees at public schools. So, if you’re planning to attend a private or out-of-state school, the GI Bill may not pay for everything. If it looks like you’ll come up short, check out the Yellow Ribbon Program. The Yellow Ribbon Program is an agreement between universities and the Department of Veterans Affairs to get former service members the extra funds they need for college. To qualify, you have to be at the 100% benefit level of the Post-9/11 GI Bill.
Here’s an example of how it works:
You decide to attend a public school as an out-of-state student and your total tuition and fees for the year are $16,000. The school’s in-state tuition and fees are only $10,000.
Your total tuition and fees exceed the amount payable under the Post-9/11 GI bill by $6,000. The VA will pay a total of $10,000 to your school for your tuition and fees. However, you are responsible for the $6,000 charged to out-of-state students.
If your school offers $3,000 in Yellow Ribbon contributions, the VA will also pay $3,000 to the school, and your full amount will be paid. If your school offers $2,000 in Yellow Ribbon contributions, the VA will pay $2,000 to your school, and you will be responsible for the remaining $2,000.
Find out if the college or university you plan to attend participates in the Yellow Ribbon Program.
Get answers to frequently asked questions about the Post-9/11 GI Bill Yellow Ribbon Program.
One more thing. As you re-enter civilian life and get ready to go back to school, remember your SGLI ends 120 days after you leave military service. USBA offers affordable life insurance plans to replace your SGLI. Learn more here.