Beyond Student Loans: Sources of Financial Aid for Military Spouses
College can be expensive. Really expensive. But if you want to get a decent career—and then advance—these days, you’ll most likely at least a Bachelor’s degree. The good news is that the scary sticker price isn’t necessarily what you’re actually going to pay. With the ever-tightening financial situation many military families face, it’s good to know that military spouses have access to a number of programs that can help paying for a college education a lot more affordable.
Let’s take a look at some of your options.
MyCAA
The Military Spouse Career Advancement Accounts--MyCAA--program was closed down, but then reopened in 2010. This is a good program but there are a lot of restrictions. To start with, it’s available for spouses of active duty service members, but only those who fall in a very narrow range of pay grades: W1 and W2, E1-E5, and O1 and O2. Spouses of activated Reserve and Guard members are also eligible, but there’s an additional restriction—you must start and complete your course while your spouse is still on Title 10 orders. The most you can receive under this program is $2,000 per year, with a lifetime cap of $4,000. There are also restrictions on the kinds of courses you can take.
SDEAP
The Survivors and Dependents Education Assistance Program is run by the Department of Veterans Affairs, and is available for the spouses and children of qualifying service members. This can offer up to 45 months of support and benefits. However, if you need remedial or refresher courses, you’ll need to get prior approval.
Federal Work Study Program
The Federal Work Study Program (FWS) doesn’t actually give you any money or directly reduce your tuition cost. Instead, FWS provides part-time jobs. The money you earn then goes towards your tuition. You can work on- or off campus while you’re enrolled. Ideally, you’ll find a job that’s related to whatever you’re studying.
FSEOG
The Federal Supplemental Education Opportunity Grant is a special program designed for those with the worst economic situations. If you qualify, it can offer up to $4,000 in the form of a grant (meaning that you won’t have to repay it).
Other Sources of Funding
In addition to the options listed above, there are a number of other ways to find money for college. Among the most popular are Pell grants and Stafford loans. Again, you don’t have to pay back a grant, but you do have to pay back a loan. As you can imagine, grants are a lot harder to get than loans, so the sooner you apply, the better your chances of getting one. And then be prepared for a long wait.
The On-Base Education Center
Your base’s Education Center is an important resource. You’ll find a ton of information on various sources of funding and you may even be able to enroll in some courses right there. Take some time to sit down with a counselor (you’ll probably need to make an appointment). He or she will go over your options and make recommendations for programs you may not have been aware of. Your counselor will also be able to help you with all the paperwork you’ll need to fill out when applying for any financial aid, including Pell grants and Stafford.
Financial Aid Offices
School financial aid officers can often tell you about scholarships and grants that you may be eligible for. Spend some time going through their lists. Some grants will be based on your high-school or undergraduate GPA. Others may have more narrow requirements, such as having been born in a certain state, being the daughter or son of someone who went to the school you’re thinking about. Others are just plan bizarre: being left handed (really!), being tall, having a duck-calling talent, being a member of Starfleet, and so on. Local companies may also offer scholarships to eligible students.
If none of the options we’ve discussed here work for you, you may be forced to turn to traditional student loans. Student loan debt is one of the most common types of debt in the country today. You’ll need to start making payments on your loans within a few months of graduating (or sooner if you don’t complete your course).
Let’s take a look at some of your options.
MyCAA
The Military Spouse Career Advancement Accounts--MyCAA--program was closed down, but then reopened in 2010. This is a good program but there are a lot of restrictions. To start with, it’s available for spouses of active duty service members, but only those who fall in a very narrow range of pay grades: W1 and W2, E1-E5, and O1 and O2. Spouses of activated Reserve and Guard members are also eligible, but there’s an additional restriction—you must start and complete your course while your spouse is still on Title 10 orders. The most you can receive under this program is $2,000 per year, with a lifetime cap of $4,000. There are also restrictions on the kinds of courses you can take.
SDEAP
The Survivors and Dependents Education Assistance Program is run by the Department of Veterans Affairs, and is available for the spouses and children of qualifying service members. This can offer up to 45 months of support and benefits. However, if you need remedial or refresher courses, you’ll need to get prior approval.
Federal Work Study Program
The Federal Work Study Program (FWS) doesn’t actually give you any money or directly reduce your tuition cost. Instead, FWS provides part-time jobs. The money you earn then goes towards your tuition. You can work on- or off campus while you’re enrolled. Ideally, you’ll find a job that’s related to whatever you’re studying.
FSEOG
The Federal Supplemental Education Opportunity Grant is a special program designed for those with the worst economic situations. If you qualify, it can offer up to $4,000 in the form of a grant (meaning that you won’t have to repay it).
Other Sources of Funding
In addition to the options listed above, there are a number of other ways to find money for college. Among the most popular are Pell grants and Stafford loans. Again, you don’t have to pay back a grant, but you do have to pay back a loan. As you can imagine, grants are a lot harder to get than loans, so the sooner you apply, the better your chances of getting one. And then be prepared for a long wait.
The On-Base Education Center
Your base’s Education Center is an important resource. You’ll find a ton of information on various sources of funding and you may even be able to enroll in some courses right there. Take some time to sit down with a counselor (you’ll probably need to make an appointment). He or she will go over your options and make recommendations for programs you may not have been aware of. Your counselor will also be able to help you with all the paperwork you’ll need to fill out when applying for any financial aid, including Pell grants and Stafford.
Financial Aid Offices
School financial aid officers can often tell you about scholarships and grants that you may be eligible for. Spend some time going through their lists. Some grants will be based on your high-school or undergraduate GPA. Others may have more narrow requirements, such as having been born in a certain state, being the daughter or son of someone who went to the school you’re thinking about. Others are just plan bizarre: being left handed (really!), being tall, having a duck-calling talent, being a member of Starfleet, and so on. Local companies may also offer scholarships to eligible students.
If none of the options we’ve discussed here work for you, you may be forced to turn to traditional student loans. Student loan debt is one of the most common types of debt in the country today. You’ll need to start making payments on your loans within a few months of graduating (or sooner if you don’t complete your course).
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