MGIB Military Pays For College
Besides serving your country, the military can offer several other benefits. While enlisted, you are vigorously trained in specific areas. When you are discharged, your training may qualify you for endless jobs opportunities. But when training is not enough to satisfy your educational needs, the military still has ways to fulfill your desires.
As a member of the military, not only do you have the same options as other college students, which entails scholarships, grants, financial aid for those who are less fortunate, and federal students loans, you can also count on the financial aid the military offers. This consists of the Montgomery GI Bill (MGIB) Chapter 30, MGIB “Top up,” and the Military Tuition Assistance.
All can be used for college, technical, vocational, and correspondence courses, as well as entrepreneurship, high-tech, flight, and apprenticeship/job training. Participants taking advantage of these programs have been met with much success.
Before you begin the process of using military grants for your education, it is very important that you do your research. With the variety of choices, it is easy to get confused.
Even though these options are at your disposal, this does not mean that these offers are a free-for-all. There is a process. There are restrictions, and just because you these options at your disposal does not necessarily mean you have to use them. Take your time and learn what each has to offer, and consider everything before you make a decision.
The Tuition Assistance grant is a federal funded education benefit. It may cover up to 100% of your tuition. However, it may not exceed $250 per semester credit hour, $166 a quarter credit hour, or 16 semester hours (24 quarter hours) a fiscal year.
This money is usually sent directly to the school and subject to command and service approval. Although this tuition assistance is beneficial, it most likely will not cover all of your education expenses. This is when the MGIB comes into play.
The MGIB works somewhat like Social Security. You have the option of having a set amount of money taken out you check for the first 36 months you are on active duty. This money goes toward the tuition of another military person who has completed their 36 months and is already enrolled in a program.
The monthly benefit is based on the types of training, length of service, and category. You can also choose to pass it on to your spouse or children if you decide not to use it. However, it still must be used while you are either still enlisted in the military, or within the ten years after your service ends.
The MGIB is broken up into two parts: MGIB “Top-up,” and the MGIB Chapter 30. If the Tuition Assistance grant will not cover all of your education expenses, the MGIB “Top-up” will help cover the balance. The MGIB Chapter 30 option may cover your college expenses up to 36 months while enlisted or within 10 years after your discharge.
Keep in mind you must be eligible prior to using the MGIB, and it is at your service’s discretion. You also must be enlisted in the service for at least 36 months before you are able to use the MGIB. Once you are approved, the money is taken out of your 36 months’ benefits.
Now that you have learned what types of education financial aid the military has to offer, it is important that you choose the one that is best suited for your situation. It is easy to pick the one that pays out more; however, frivolous use can become a serious disadvantage as an adult.
Making sure that you are comfortable and experience low stress during your educational career is important for success. Also, remember that it’s more than likely a percentage of the MGIB is taken out of your money– so it’s not wise to be wasteful.
If you decide to continue your education part-time, you have two options. If part-time means you take just one class, at less than $250 per semester, $166 a quarter credit hour, or 16 semester hours (24 quarter hours) a fiscal year, the Tuition Assistance grant will cover it.
If you decide to attend more than one class a semester, the semester will cost you more than $250, and you are eligible for the MGIB. It may be best to use a combination of the Tuition Assistance grant and the MGIB “Top-up.” One of the two options will get you through a part-time semester.
If your decision is to continue your education at full speed in a degree program, don’t worry. You still have the opportunity of a low stress experience. If your degree program will not exceed $4,500 a year, try using the Tuition Assistance along with the MGIB “Top-up.” If you still need assistance with your education expenses, then you should consider using the MGIB Chapter 30 to cover the rest.
If, and only if, the degree program exceeds $4,500 a year, should you consider using just your MGIB Chapter 30. Bear in mind, it may cover your education up to 36 months, but once you have depleted your funds, you are no longer eligible.
Now that you know what the military has to offer when it comes to your education, you can make an informed decision. Qualifications and restrictions vary between sections of the military so make sure you speak to a superior officer before you begin.
If you decide to take advantage of this opportunity, make sure you start the process as soon as possible. The necessary paperwork can be found at your base or on an official military website.
