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Financial Aid for Military Personnel at Online Schools

Financial Aid for Military Personnel at Online Schools

by Shannon Lee
February 9, 2011

When a member of the military decides to attend online schools, there are several financial aid options available to those who qualify. While the Free Application for Federal Student Aid (FAFSA) is still required, there are many other avenues of financial aid available only to those who served Uncle Sam.

Financial Aid for Military Personnel

Military personnel can pursue online degree programs with special financial aid. Here are a few of the options that might be open to you:

  • The Montgomery GI Bill has several different options to apply for. In general, the Bill pays for about two-fifths of the total cost of a college education.
  • Military Tuition Assistance can cover up to 100 percent of your total cost of education, as long as the cost meets certain financial thresholds. For instance, the assistance will not cover more than $250 per credit hour.
  • Millions of dollars in scholarships are available for military personnel. Look into scholarship finders or ask your financial aid advisor for more information on what is available to you.
  • State programs might include fee waivers, scholarships, or tuition assistance. Check with your state to determine what is out there, and what might be of advantage to you.

Who is Eligible?

You might be eligible for financial aid if you fall into one of the following categories:

  • Active duty, of any rank, in the Armed Forces
  • A reservist of any rank
  • A veteran of the US military
  • A member of the National Guard
  • The spouse of an active duty member, reservist, or veteran

If you are or were a member of the military, or if you are a military spouse, you might be eligible for a nice chunk of change to help pay for your online degree programs. Online schools are ready and waiting to help you figure out what your financial standing will be.