If you are an individual serving on active duty in the U.S. military, a veteran trying to upgrade your education or the child of someone who served, this question may come up: how will I pay for my college tuition?
For those looking to get a master’s degree in business administration, there are programs to help active and former military personnel as well as their families pay for school while still working full-time. In fact, most available financial aid treats online classes just the same as traditional classes, making it easy for you to work on a degree by using military MBA scholarships.
Many graduate schools actively recruit military and veterans
After the events of September 11, 2001, Congress decided to revamp the GI Bill. Now, funding for tuition has increased, and the Yellow Ribbon Program, which lets U.S. universities voluntarily enter into an agreement with the Department of Veterans Affairs to fund tuition expenses, also helps immensely. The university can contribute up to 50 percent of expenses that exceed the highest public, in-state tuition rate, and the government will match the same amount as the institution. Some institutions will even waive tuition fees.
Further financial aid
Most schools have more programs available than just tuition reduction; they also offer military MBA scholarships. As an example, a university might offer a scholarship for an online Corporate MBA program targeted at active military, veterans and immediate family members. Graduate schools recognize that those with military backgrounds have already learned the value of teamwork and usually possess a maturity many younger students lack; because of that, schools work to bring in current and former service members. Military MBA scholarships not only benefit the student but the reputation of the school as well.
Many benefits come from an MBA
For those wondering what an MBA can do for them, consider this: an MBA no longer means just going to Wall Street. Now, MBA graduates can look at positions in project management, sales, marketing and general management â€” many skills that are already learned in today’s military. An MBA program allows you to network with those outside the military for employment purposes.
An online MBA program enables you to earn a steady paycheck while using your GI Bill benefits, and combined with military MBA scholarships, the advantages of moving into a graduate MBA program seem clear.
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