Military AssistanceAn Ideal way for Active Duty, Reserves, and Veterans to receive College DegreesA college study with financial assistance of the military is a very attractive option for students wanting to pursue higher studies. In recognition of service for the nation in military (Army, Navy, Air Force, Marine Corps and Coast Guard), enrolled personnel are offered many options of financial assistance for education. They are the Montgomery G.I. Bill, the Tuition Assistance Program, the Student Loan Repayment Program and the ROTC scholarships. Under the Montgomery G.I. Bill, eligible veterans are given up to 36 months of education benefits. The benefit amount varies according to the Consumer price Index and is independent of when they became eligible or started availing the benefits. The amount of benefit offered is based on the years of duty put in by the veteran. Presently, for 3 yeas or more completed service, the pay out is $1,034 per month. The pay out is $840 for 2 years service and $297 for part-time in the Reserve or National Guard. Beside the service requirements, full time students enrolled in accredited universities with Veteran Affairs would get $1,034 and part-time students $517 a month. The Armed Forces Tuition Assistance is to pay 100 percent of all tuition costs to members, but it is actually limited to $250 per credit hour and $4,500 per year. If Tuition Assistance is insufficient to pay full tuition fees, the Montgomery G.I. Bill can be used for the shortfall. Each of the military unit has its own rules and regulations on eligibility, service requirements and application process. The limits as exist now are $70,000 in the Army, $50,000 in the Navy and $30,000 in the Marine Corps. The benefits are paid directly to the institution. Under the Loan Repayment program, a student can receive up to 33.3% of the unpaid loan amount or $500, which ever is greater, annually. The respective current maximum annual limits of Army/Navy, Air Force and Army Reserve are $65,000, $10,000 and $20,000 respectively. These payments are also made directly to the institution. Reserve Officers' Training Corps program (ROTC scholarships) is another assistance provided to current student towards tuition fees. To be eligible for the ROTC scholarship, the student should, in addition to the full course load, take up military science course, and on graduation, join the service as commissioned officer. Depending on the merit of the student, up to $20,000/- per year is awarded to the student to cover tuition, fees and book costs. |
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