If you’ve been around the blog for a while, it’s no secret that I utilize military educational benefits to get to and through my doctoral degree debt-free. Along the way, through my trials, and those of other military children I know, I’ve picked up some important tips to ensure that not only are you debt-free in using your military benefits but that you are also able to put money in your pocket to live comfortably, at a minimum.

This is a lengthy post, but please see the Summary of Educational Benefits post for greater details on any awards you may be eligible for. Similarly, each of the important details I discuss is hyperlinked, so feel free to learn more about each topic.

On a very basic scale, there are choices anyone can make to maximize finances when it comes to college. If you can stay with your parents and keep your living costs low, that is the amplest opportunity to stretch your finances. Also, choose your university wisely. Private schools are expensive and aren’t covered completely by most of the benefits. Also, while there is the Yellow Ribbon program, not all private universities participate. While this goes without saying, you want to go to a university that will give you the best education for your degree. If you’re unsure of what you’d like to study. Ensure that you go to a school with strong liberal arts curricula, that will give you the most opportunity for quality education in almost any major. Also, note that if your school is not accredited or has a history of mismanagement of military funds, you might not be eligible to use your benefits for the duration of your education. So choose another university. For the Post 9/11 GI bill and the Fry Scholarship, the best bang for your buck would be staying at home, going to an in-state public school in a larger city, to take advantage of the higher BAH rates. If you don’t have those options, here are practical tools to maximize your benefits.

The first is to take advantage of free/reduced course credits. While in high school take advantage of AP/IB and dual enrollment courses. These are free college courses you don’t have to pay for with your military benefits. Also utilize CLEP/DSST exams, that allow you discounted rates (military offers) to test out and get credit for basic level courses you might not need to take. Lastly, utilize testing options at the university level. Some universities have testing policies by which you pay a nominal fee to take what’s usually the final exam of a course and get credit for the course. All of these options are typically for accelerated students. But with a little more effort, anyone can take advantage of them. Also, for those who don’t have access to in-person AP/IB courses, take advantage of online schooling options, (also here and free here) that you may be able to negotiate prices on through your high school, to offer you these opportunities.
1. When utilizing these options, though, ensure that you have some foresight and communicate with the university for you plan to transfer these credits. Many universities have transfer credit limits of around 60 credits. Any transfer credits beyond 60 credits will not count towards your degree. When utilizing these options, do so strategically.
2. If you use the options and go to a community college, they are more likely to take all of your credits. I would recommend putting these toward an associate's degree to ensure that all of your transferred courses count. In general, for the maximum benefit of funds, I’d recommend starting at the community college and then transferring to a four-year university. Ensure that you have a strict plan when doing this, though, because the transfer process can cost you more money if you’re not methodical about what courses you plan to transfer.
The second and possibly most exponential suggestion is to get scholarships, grants, assistantships, paid internships, and or participate in pathway programs. The amazing reward of utilizing military benefits is that any scholarships applied to your account land in your pocket when your tuition and fees are being paid. While the following statement is not true of Chapter 35 DEA benefits, it is for any of the other benefits that cover tuition and fees accordingly.
1. Follow the math, if the school charges your tuition as $5000 a semester and another $1500 a semester for fees, you’re looking at a $6500 bill, not including room and board. Assume you have a scholarship that covers your $5000 tuition, but not your $1500 fees. Contingent upon your room, board, meal plan, and book costs, the best-case scenario of the money remaining after the military benefit is applied is $5000 refund check (the military benefit will cover fees and tuition in total allowing you to receive your scholarship tuition in cash).
2. This process works for any amount of financial award applied to your student account. A common list of scholarships I recommend all students applying for is here. You may also want to take advantage of specific military scholarships depending on your field of study such as the SMART scholarship and NDSEG, for which help with job placement post-graduation as well. If you’re looking at going for an advanced degree, do much investigation into fellowships as well. While money is harder to find at that level of education, there is much out there. Take full advantage of every dollar available.
3. To this point, also fill out your FAFSA. If you receive any federal/state grant funding, the VA will still pay your tuition and fees. While the refunding process is handled on a school by school basis with these benefits, it’s worth looking into. When choosing a university, you can call ahead to discuss their policy on these refunds as well by contacting the financial aid office and/or the military education benefits representative.
The third benefit is to take advantage of work, unpaid internships, and related experiences. Because most of the educational benefits include a monthly stipend, you can afford to take free or reduced pay for internships and work experiences. Work experience is what so many college students don’t have upon graduation, so take advantage of the option. Also, if applicable take on a job or do work-study on campus. I worked and received my educational benefits. It allowed me the ability to keep money in my pocket, but also afford vacations for spring break and study abroad. Working may also afford you options such as paid study time, free meals, and/or network you wouldn’t otherwise have had. Also, many on-campus jobs, such as admissions office staff and certain office assistants, are eligible for tuition waivers and/or discounted courses through the university. This may offer you the opportunity to get more money in your pocket.
The fourth suggestion is to take as many courses as you can. While this applies primarily to the Post 9/11 GI Bill and the Fry scholarship, when tuition and fees are completely covered, even for a non-degree seeking course, you have the opportunity to take courses that you might genuinely be interested in. Computer science, math, and business courses are always great secondary courses to add to any resume regardless of your field. Diversity in training is also a plus for many employers as it implies that you are open to learning interdisciplinary skills and are multifaceted. Also note that the 9/11 GI bill will pay for courses at multiple universities assuming the courses are degree-seeking, so if you go to a smaller university without a large range of course offerings, this option may be important for you to utilize.
The fifth suggestion is to pass all of your courses the first time, and if you’re going to fail, pay for the retake out of pocket. DO NOT EVER WITHDRAW FROM A COURSE THE VA IS PAYING FOR. It will mess up all of your money every time. If you have the option to take a failing grade, do so. You don’t want to owe the VA money. Similarly, they will pay for you to retake, but it takes months off of your eligibility, so keep that in mind.
The sixth suggestion is that you get creative in stretching your benefits. Similar to the first point of this post, staying at home is great, but if you can’t stay off-campus, get roommates, opt-out of the meal plan, start some side hustles (selling notes, selling plates of food, detailing cars, ride-sharing, doing hair, marketing social media, photography, etc.), take advantage of military incentives (commissary, discounted gas, PX/Exchange), take advantage of social programs (food banks, jobs that feed you, college/military discount), use every paid resource from your university (tutoring, gym, printing/library, parking, amazon prime student, etc.). Do whatever you’re comfortable with to keep the coins in your pocket.
The last and most important tip is to BUDGET YOUR MONEY! I have tons of budgeting resources here on the blog. If you are using benefits or not, ALWAYS budget your money. Take advantage of every dime you receive by maximizing your income and minimizing your expenses. College is expensive, but college is an experience. Put your money towards what’s important to you and manage your needs accordingly. With the military benefits, you don’t have to be the broke college kid if you don’t want to be.

You’re being given an incredible opportunity that many people join the military and die for. You are offered a free and/or compensated education with the freedom to experience the college environment. Don’t squander the sacrifice of those who fought and served for you to have this opportunity.