The Montgomery GI Bill and the Post 9/11 GI Bill have provided an amazing benefit for US Military Veterans. Known as one of the best benefits available, the GI Bill provides numerous opportunities for Veterans, Active Duty members. and even immediate family members (transferred benefits to spouse or child).
Whether you are a veteran, on active duty, or the recipient of transferred benefits, there are a few things you should learn about paying for your education.
How Does Tuition Payment Work with VA Benefits?
Veterans Affairs cuts a check at the end of every month enrolled to cover your tuition. This monthly stipend from the VA usually hits on the first of the month. They should be notified by your school about enrollment and tuition due.
What If the GI Bill Doesn’t Cover All of My Expenses?
There are also occasions where your benefits from the GI Bill won’t cover 100% of your expenses or you will need to pay for classes before the money from your benefit actually arrives. There are a few things that factor into how much you receive. Most importantly, you need a way to cover these expenses.
Many Veterans use private student loans to help cover expenses and tuition.
Private loans can help Veterans and active duty members get the money that they need for their education quickly. Shopping around for the right lender allows the most flexible payment options (some lenders even offer cash back rewards).
Find the Right Lender While You Wait for Your Benefit Money
Shopping for lenders is always the best option. We recommend checking at least 3 different lenders to make sure you’re getting the best possible rates and terms.
