Veterans can receive additional benefits for college tuition

(ARA) - Starting in 2009, veterans and active-duty military who meet certain criteria are eligible to receive more money for college through the Yellow Ribbon GI Education Enhancement Program. The Yellow Ribbon Program offers students at participating institutions an expansion of tuition benefits currently extended by the Post-9/11 GI Bill.

Here is an outline of what the program offers, based on information provided by the Department of Veterans' Affairs (VA) (www.va.gov).

The Post 9/11 GI Bill: what it covers

Currently, the Post-9/11 GI Bill offers assistance for undergraduate tuition and fees up to the same level as the most expensive in-state public university. The Post-9/11 GI Bill will also match the highest level of student fees charged by a public school. You're eligible for Post 9/11 GI Bill benefits if your personal situation meets any of the following criteria:

* You have served at least 36 total months of active duty after Sept. 10, 2001 (your 36 months of duty do not have to be consecutive).

* You served at least 30 days active duty after Sept. 10, 2001, and received an honorable discharge due to a service-related disability.

* You are the dependent of a service member who meets either of the above criteria. Dependents of eligible service members are entitled to a Transfer of Benefit under the Post 9/11 GI Bill.

If you're not sure about whether or not you qualify, visit the Veterans' Affairs Web site to check, or to apply (www.va.gov).

While the Post-9/11 GI Bill has helped many veterans and their family members meet the cost of higher education, students who are eligible for GI Bill benefits may still owe money if they choose to attend a private university or go out of state to attend school. This is where the Yellow Ribbon Program comes in.

How the Yellow Ribbon Program helps pay for college:

The Yellow Ribbon Program is voluntary: only institutions that elect to participate will be able to offer you the added benefits. When a school signs up with the Yellow Ribbon Program, it must tell the VA:

* How many student participants it intends to fund.

* How much money it intends to offer each student.

The VA will then provide a matching grant equal to the amount provided by the school, above and beyond the money offered by the GI Bill. This matching grant gets paid directly to the school, not to the student. Yellow Ribbon Program assistance is also offered on a first-come, first-serve basis.

An example of tuition benefits from the Yellow Ribbon Program:

Imagine that you have enrolled at College X, which is a private college in your state that participates in the Yellow Ribbon Program. You want to take 12 credit hours. The tuition is $6,000 ($500 per credit hour) and there are additional student fees of $1,300. Your total bill is $7,300.

In your state, the highest cost per credit hour in the public system is $300. The highest fees charged are $1,100. So, in this imaginary situation, the Post-9/11 GI Bill covers12 credit hours at $300 per hour for a total of $3,600.00, plus $1,100 toward fees.

So far, you are eligible for $4,700 in assistance.

College X offers $1,000 in Yellow Ribbon Program Funds. The VA provides a further $1,000 in matching grants. In this example, you are now covered for a total of $6,700 out of your total bill of $7,300. End result? You will only have to find $600 to cover your fees and tuition for school.

Which schools participate in the Yellow Ribbon Program?

The Yellow Ribbon Program is not exclusive to traditional colleges. Now, online universities can also sign up for Yellow Ribbon Benefits, giving additional options to veterans looking for an online military education program.

You can check the GI Bill page at www.gibill.va.gov to find out which schools have signed up for the Yellow Ribbon Program. If you already have a school in mind, ask their admissions or financial aid offices for information. Some schools have dedicated advisers for military veterans and their family members. They will help you take full advantage of the benefits you've earned by serving.

Information in this article was provided by American InterContinental University Online. Contact AIU today if you're interested in developing marketable knowledge and career-relevant skills with an industry-current degree program. (AIU does not guarantee employment or salary. Financial aid is available for those who qualify.)

Courtesy of ARAcontent