One of the big attractions of going into the military is the fact they offer money for education after the person is discharged. The amount of money they’ll pay is often tied to how many years the person is in, but even those military students who are only in for the basic 4 years still should have enough military financial aid to pay for school. Unfortunately, this isn’t always the case.
Where do for-profit schools get their funding?
For profit colleges are run by private companies or organizations instead of being organized by the state as a public institution. These colleges and universities are funded strictly by fees they charge the students, regardless of the funding source, and there have been charges of fraud within this system for years. The way this applies to the topic at hand has to do with failure to completely disclose costs and promising unrealistically high pay for jobs to encourage enrollment.
Paying more does not pay off.
Military students who opt for education at a public college usually have plenty of funding available for classes all the way through graduation. For profit colleges often are far more expensive than a public college or university meaning the funds that a military student has won’t be enough without loans. With some of the deceptive practices, promising unrealistically high pay for jobs, the student thinks getting the loans will be an acceptable thing to do.
The drawback is, once the student does graduate and gets that job, the pay they receive is only what the industry actually pays for someone who just graduated school. This means the debt incurred by the educational process is actually a severe hardship, forcing the student to pay back loans for years to come.
One reason students opt for the for-profit colleges is the fact that they can take classes online. This enables the military student to hold down a full time job as well as attend to family duties and other obligations while taking classes at night and weekends. But students don’t have to opt for this model any longer.
Public colleges are starting to offer a lot of degree courses online as well. This gives the military student the choice of when to take the classes without having to take out loans or other aid just to cover costs. If you’re in the military or are ready to take advantage of your education benefits, take a look at the programs available at public colleges and talk to the financial aid offices there. They’ll guide you through the process and you’ll begin building that future you wanted when you joined up.