LIFESTYLE & TRAVEL

College and the Military: Finance Edition

Military professionals can follow several different educational journeys including joining the Reserve Officers’ Training Corps (ROTC) or focusing on a military career before attending a typical college or university. It’s important to understand the financial impacts of both paths and what options may be available to you if you plan to train for the military or have already served.

ROTC Students

The U.S. Army, Navy, Air Force and Space Force offer ROTC opportunities to develop leadership skills and experience while still in school. As a student in the ROTC program, the aim is to obtain a degree in a field that will align with your military goals and provide you with financial and organizational support. Potential financial benefits of joining ROTC include:

• Tuition support through scholarships
• Room and board stipends
• Monthly stipends
• Book allowances

The requirements and benefits can vary by branch and university, so be sure to ask questions specific to your situation.

Veteran Students

According to the U.S. Department of Veterans, 15% of student veterans are the traditional college age. Student veterans usually are between the ages of 24-40 when first stepping foot on a university campus. Utilize the following tips to help with a successful transition.

Understand your benefits Being in the military has many benefits through the GI Bill, including potential financial support to pay for school or cover costs for training if qualified. Additional information and how to apply for education benefits can be found through the U.S. Department of Veterans Affairs.

Find a support system on campus There are many support systems on campus to help you succeed, including finding other veterans on campus. Check in your university for potential Student Veteran Organizations (SVOs) to find other people in a similar situation. Student Veterans of America is a program designed to help veterans succeed. Find a chapter in your area to connect with other veterans at https://studentveterans.org/chapters/find-a-chapter/

Identify your goals When starting a new phase in life, it’s important to create achievable goals. Ask yourself the following questions:

• What type of career do I want?
• How does my military experience enhance my knowledge and success with the topics I'm studying?
• How does the expected income align with my financial goals?
• How do I plan to pay for tuition?

Whether you’re in an ROTC program or you’re a student veteran, reach out to your financial aid office and campus support resources to understand the options available to help you succeed.

Sources:

https://www.va.gov/education/about-gi-bill-benefits/

https://www.military.com/join-armed-forces/rotc

https://armyrotc.army.mil/scholarships/)

https://bachelors-completion.northeastern.edu/knowledge-hub/tips-for-veterans-going-to-college/