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Applying to College: 5 Tips for Veteran Students
Veterans should apply for GI Bill benefits early and seek schools that can support them during their transition to college life.
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Cecilia Clark Assistant Assigning Editor | Education financing products, Veteran's benefits, Student and graduate finances
Cecilia Clark is an editor on the loans team. She specializes in student loans and manages product reviews and roundups. Previously, she worked as a freelance writer and developed communications strategies for cybersecurity firms. Cecilia has also worked in post-secondary education, elevator operations management and sales and military nuclear command control, maintenance management and public affairs.
The Department of Veterans Affairs (VA) recognizes the specific needs of veterans and offers educational benefits under the GI Bill that help cover the cost of college. GI Bill benefits can help veterans and active-duty members of all branches of the U.S. military and fund their college education.
But understanding your GI benefits is only part of the equation when considering a college degree. To help make sense of the rest, NerdScholar asked college admission and veteran services experts to shed light on the key steps in the application process for veteran students. Use these tips and resources to find the best college for you.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.59-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Variable APR
5.34-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.49-15.49%
Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Variable APR
5.04-15.21%
Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Credible lets you check with multiple student loan lenders to get rates with no impact to your credit score. Visit their website to take the next steps.
1. Apply for GI Bill Benefits early
GI Bill benefits come in many packages and vary in the amount of money offered, depending on when and for how long you served. Under the Post-9/11 Bill, for instance, students have 15 years to use their funds if their service ended before January 1, 2013 and unlimited time if their service ended on or after that date. With the Montgomery Bill you have a 10-year limit. Be sure to research your options so that you know what to expect when you're ready to go to school.
“Applying to colleges and for GI benefits early is the best approach to take. For some veterans, the process may take up to six months,” says Eric Kocian, assistant professor of criminology, law and society at St. Vincent College in Pennsylvania and a former veteran student. Familiarize yourself with the VA website to learn about the most appropriate GI benefit.
The VA even offers a GI Bill Comparison tool, which assesses the veterans resources available at specific colleges as well as how much of your college expenses your GI benefits will cover.
2. Consider your educational priorities
By knowing what you most value in your education, you’ll be able to make smarter decisions on where to apply. Jessica Roscoe, an academic advisor for veterans at the University of Pittsburgh, recommends asking yourself, “what time, money, and a degree is worth to you.”
For many veterans, the main goal is getting the most out of your GI benefit funds. “A particular school might not be a good fit for you if the program you would be enrolled in will take longer to complete than the duration of your GI Bill educational benefits,” Roscoe says.
Look at colleges that offer the “best bang for your GI benefit’s buck,” Regina Morin, vice president for enrollment management at Truman State University, recommends. “Compare quantifiable measures such as graduation rates, placement into graduate schools and employment, costs and affordability as well as subjective measures such as opportunities for high-impact experiences, accessibility of faculty, and avenues for involvement.”
If your goal is to avoid borrowing money at all costs, apply for scholarships, especially those aimed at helping veterans. You can also apply for federal financial aid and only accept the grants you qualify for, not the loans you’d have to pay back.
3. Find VA-approved colleges that accept transfer and military class credits
You can't use your GI Bill at every school. Use the VA website to determine if your prospective colleges are “regionally accredited and approved by the VA,” says Nathaniel Harrison, manager of instruction for the Division of Military Education, Corporate Training, & Business Development at Coastline Community College in California.
If you previously completed college courses, either during your military service or before, check to see if those units will transfer to your new school. Likewise, trainings you did in the military could count toward your degree requirements. “Provide the university you want to attend an official copy of your military transcript,” says Amy Becher, vice president for enrollment management at Chatham University. “Use your military experience to get a jump start on college transfer credits so that you can put the work you’ve done during your service to work for you in college.”
Refer to the American Council on Education’s Military Guide to determine which military courses will transfer and how. That way, you’ll be using your VA funds on credits you need, not credits you’re replacing.
“Once [students] narrow down their options based on personal preferences, geographic [location], and academic programs,” Morin says, “it is best to seek assistance from the veterans affairs office.” This office will be your best resource when searching for the best college, complete with staff and students who can lend insights into life at the university from a veteran’s perspective.
At Truman State University, Morin says, “we ask [students] military-specific questions and use this data to connect the applicant with our veteran affairs officer in the registrar’s office.”
According to Harrison, who also oversees two veterans resource centers, “most schools will have a VA certifying official or veteran counselor who can answer questions about benefits.” He says certified staff members at his community college specialize in helping veteran students complete their college applications. “Our [VA certifying] staff also inform veterans about other resources that are available beyond their VA GI Bill benefits.”
5. Find a military-friendly college
If you’re looking for a large support system of fellow veteran students, try seeking out colleges known for their large veteran population, recommends Tom Boscamp, a current veteran student and the president of Coastline's Student Veterans of America chapter. Ask yourself, “Is the [veterans resource center] a little closet tucked away in the corner with outdated computers? Or is it an actual place where veterans can connect with other veterans, catch up on homework, or just relax between classes?” Once enrolled, he says, “Get tied in to your campus’ student veterans club, such as [their chapter of] the Student Veterans of America.”
