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What education benefits are available to servicemembers?

Military education benefits are available to help servicemembers cover the cost of education. Consider taking advantage of these programs if you're eligible.

Active-duty servicemembers and veterans who served on active duty on or after September 11, 2001, may be entitled to Post-9/11 GI Bill benefits. This program can pay up to the full cost of in-state tuition and fees at public colleges for up to four years, or up to a certain maximum if you attend a private college or foreign school. Vocational and correspondence school programs may also be covered. Tuition is paid directly to the school, with eligible students receiving a monthly housing stipend and up to $1,000 per academic year for books and supplies that is paid at the beginning of each semester.

The Yellow Ribbon Program is a provision of the Post-9/11 GI Bill that allows veterans to attend participating schools and graduate programs that cost more than the state tuition cap. Another benefit is the Transfer of Entitlement option, which enables servicemembers and veterans to transfer some or all of their unused GI Bill benefits to a spouse or dependent children. However, certain requirements must be met before the transfer is approved.

The Montgomery GI Bill offers two main programs: one for active-duty members and another for actively drilling reservists. The duration of benefits varies for the programs, but both make payments directly to the student. If you're eligible for both the Post-9/11 GI Bill and the Montgomery GI Bill, you must decide which benefit you want to receive. This decision is final and cannot be changed, so you'll want to think carefully about which education benefit will be most advantageous to you.

Supplemental benefits may be available to servicemembers and veterans, including tuition assistance, scholarships, licensing and certification programs, work-study programs, and tutorial assistance. Learn more about your options by visiting benefits.va.org.

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Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2020.