National Guard Loans

If you want to serve in the military but are reluctant to commit yourself to a full time job unless absolutely necessary, then it’s time to consider the National Guard.

Tuition Repayment Programs Are Available

One of the main reasons why many people choose the National Guard is because of the tuition repayment programs and VA loans that are available.

What Types of Programs Are Available for College Expenses?

There are several programs available to help those in the National Guard pay for college and other educational opportunities. Most people are very familiar with the GI Bill and its benefits. However, did you know that as a member of the National Guard, you could qualify for this program? 

There are some restrictions and regulations that must be followed. First, you must be a member of the National Guard for ten years to be eligible. You must have originally signed up for six years and you must have completed your initial training. Finally, you must be in active drill status.

The Reserve Montgomery GI Bill can be a tremendous help for those people starting school. It provides a lot of money for your college education expenses. It will also help keep the amount of your student loans lower.

State National Guard Loans and Benefits

There are educational benefits available from the state as well. These benefits will vary between states, but can include cash each month that you attend school (from $500 on up) or they may pay for 25% to 100% of the cost of your education.

Some states will pay a portion of your student National Guard loans. Other states will pay so much per credit hour at the college up to a certain amount.

Since the benefits vary so much you’ll need to check with the National Guard in your state to determine what programs are available and how much assistance is available to help with educational costs.

Scholarships for National Guard Members

You should check with the financial aid department at the college you plan to attend. You may qualify for additional financial aid if you are on active drill status or you are considered a veteran. Many scholarships are available through military related organizations and others are available on a need basis.

If you are going to back to school as the result of a company layoff, downsizing, or closure, you could qualify for additional funding as well.

Don’t forget the Federal Pell Grants that are available as well. When you complete the application, you will be asked about your current and past military service. Your answers could allow for additional financial aid.

Getting the Best of Both Worlds with National Guard Loans

The National Guard is an outstanding opportunity for those who want to pursue a college degree and become part of the military at the same time.

The National Guard offers many of the same benefits as those for active duty but with the freedom to attend school or work an additional job. However, it’s important to remember your dedication and commitment to the National Guard will be required until your enlistment ends.  The educational benefits from the National Guard loans should not be overlooked.