Military & Financing Your MBA

Admissions, January 23, 2018 | 0 comments
Tags: advice, applying, admissions, Financial Aid, military, veterans

Let’s not mince words: MBAs are expensive. As a US military service member, you have resources available that may make the cost of an MBA, especially at Tuck, a much less daunting proposition. Be sure to explore all your financing opportunities so you understand what schools offer and how schools partner with the VA to make education more affordable.

As a military veteran, you may have earned benefits through the Post-9/11 GI Bill® and the Yellow Ribbon Program. Below, I’ll outline a little about each benefit, however please be sure to get detailed information about these benefits.

The GI Bill provides financial support if you’ve served at least 90 days (in aggregate) on or after September 11, 2001. How much you’re eligible for is based on your length of service. The GI Bill assists with tuition and fees as well as providing a housing allowance and books/supplies allowance. In general, with the exception of the MHA, this benefit does not vary based on the MBA program you attend.

In contrast, Yellow Ribbon Program (YRP) benefits are available only if you are eligible at the 100% payment tier for the GI Bill. Also, available benefits depend on whether your school participates in the YRP and the level at which your school participates. YRP works like this: participating schools elect (with some limitations) the level at which they participate and the number of veterans who may participate in the program. Programs may fund tuition and fees that exceed the VA cap of $22,805.34 at private institutions. Schools can contribute up to 50% of those expenses and the VA matches that.

What does that mean at Tuck? At Tuck, we participate in the YRP without limitation on the number of veterans enrolled. If you are YRP-eligible, we contribute $20,000 to fund tuition and fees, and the VA matches that at $20,000.

Combine YRP and GI Bill benefits together at Tuck, and a large portion of your costs at Tuck are covered. There are a lot of details which I won’t get into here, and things may vary from veteran to veteran depending on your personal situation. If you have questions, please contact Admissions or our wonderful Financial Aid team to get answers.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available on this page of the official U.S. government website.





Share This Story

Share to Facebook Share to Twitter Share to LinkedIn Share via Email Share

Get in touch

Email us to suggest blog topics or ask a question.