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How Military Veterans and Dependents Can Pay for College

Veterans and their families have several options available to help them pay for college, including GI Bill Benefits and military-specific scholarships.

Eric Rosenberg Eric Rosenberg Edited by Ashley Harrison Updated October 8, 2021

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. By refinancing your mortgage, total finance charges may be higher over the life of the loan.
Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

The U.S. military offers an array of higher education funding programs to help its members pay for college in exchange for service.

There are also other options available for military members and their dependents if you need help filling in financial gaps — including veteran student loans.

If you or a member of your immediate family qualifies for veteran status, here are four options to pay for your education:

  1. Apply for Post-9/11 GI Bill (Chapter 33) education benefits
  2. Complete the FAFSA and apply for scholarships
  3. If you still need more funding, start with federal loans
  4. Consider private student loans

1. Apply for Post-9/11 GI Bill (Chapter 33) education benefits

If you’re a veteran, the first place to look for college funding is the GI Bill. Benefits from the GI Bill can be used to pay for:

  • Tuition and fees
  • Housing
  • Books and supplies
  • Moving expenses if you’re relocating from a rural area to attend school

GI Bill benefits last up to 36 months.

To qualify for Post-9/11 GI Bill benefits, at least one of the following must be true:

  • Served at least 90 days on active duty on or after Sept. 11, 2001
  • Received a Purple Heart on or after Sept. 11, 2001, and were honorably discharged
  • Served for at least 30 continuous days on or after Sept. 11, 2001, and were honorably discharged with a service-connected disability
  • Are a dependent child of a qualifying veteran or service member

To apply, you’ll need your:

  • Social Security number
  • Bank account and routing numbers
  • Education and military history documentation
  • Information about the school you plan to attend
Learn more by visiting the Department of Veterans Affairs (VA) website. You can apply online, by mail, or at a VA regional office.

GI Bill for dependents

If you earn GI Bill benefits and don’t use them, you can transfer your benefits to an eligible dependent child or your spouse. To transfer benefits, you must have completed at least six years of service and committed to four more years of service.

Additionally, your spouse or dependent must enroll in the Defense Enrollment Eligibility Reporting System (DEERS).

Learn more about specific rules for spouses and dependents by visiting the VA website.

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2. Complete the FAFSA and apply for scholarships

Your next step should be to complete the Free Application for Federal Student Aid (FAFSA).

With the FAFSA, you can apply for federal student aid, including grants and federal student loans. Unlike student loans, grants for college don’t need to be paid back.

Some grants available for military veterans include:

  • Imagine America Military Award Program: The Imagine America Foundation offers $1,000 awards for those who have served in the military or who are on active duty.
  • Iraq and Afghanistan Service Grant: Unlike other forms of federal financial aid, you don’t have to meet Expected Family Contribution (EFC) requirements to be considered for this grant. If your parent served in the military and lost their life in Iraq or Afghanistan following 9/11, then you might qualify. The maximum amount you could get for the 2020-21 award year is $6,345. You’ll need to fill out the FAFSA to apply.
  • Pell Grant: Like the Iraq and Afghanistan Service Grant, the Pell Grant maximum award for the 2020-21 award year is $6,345. However, the amount you get will depend on your EFC, cost of attendance, and full- or part-time enrollment status. Be sure to submit the FAFSA to see what you might qualify for.

Scholarships are another option that don’t have to be repaid — and there are scholarships available for just about any kind of student out there.

Some are need-based, while others might require that you work for a specific employer, belong to a certain racial or ethnic group, or meet other criteria.

Applying for military scholarships

There are scholarships available specifically for military veterans and their families. Here are a few programs that members of the military should know about:

  • ROTC scholarships: Reserve Officers’ Training Corps (ROTC) is a program for college students planning to join the armed services as an officer. If you’re enrolled in ROTC, you could be eligible for scholarships to help cover tuition, room and board, or books and fees. There are ROTC scholarships available for the Army, Navy, Marines, and Air Force.
  • Daughters of the Cincinnati Scholarship: This scholarship is worth up to $20,000 for daughters of career commissioned officers in any military branch. Learn more here.
  • Operation Homefront’s Military Child of the Year: This program recognizes eight young people ages 13 to 18. Each recipient is awarded $10,000 as well as a laptop computer. Learn more here.
  • American Legion scholarships: The American Legion offers several scholarships to veterans and their families. In 2019, the fund awarded $130,000 in scholarships. You can learn more about these scholarships here.

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3. If you still need more funding, start with federal loans

If you’ve exhausted your GI Bill, scholarship, and grant options, federal student loans are likely a good next step. These loans come with federal benefits and protections, such as access to income-driven repayment plans and student loan forgiveness programs.

To apply for federal student loans, you must complete the FAFSA. After this, your school will send you a financial aid award letter detailing which loans you’re eligible for.

Here are the main types of student loans you should know about:

Loan typeWho qualifies?
Interest rates
(2021-22)
Loan limits
Direct Subsidized LoansUndergrad students with financial need3.73%*$3,500 to $5,500 per year
Direct Unsubsidized LoansUndergrad, graduate, and professional studentsUndergrad: 3.73%*

Graduate and professional: 5.28%*
Dependent undergrad: $5,500 to $7,500 per year ($31,000 total limit)

Independent undergrad: $9,500 to $12,500 per school year ($57,500 total limit)

Graduate and professional: $20,500 per year
($138,500 total limit)
Direct PLUS LoansParents, graduate students, and professional students6.28%*Cost of attendance minus any other financial aid received
*Federal student loan rates for the 2021-22 academic school year.

Learn More: No Credit Check Student Loans

4. Consider private student loans

If you have any funding gaps left over, private student loans could help cover the rest of your education expenses.

If you have excellent credit, you might even qualify for a lower interest rate on private student loans compared to federal student loans — particularly Direct PLUS Loans. Because of this, it’s a good idea to check your private student loan rates to see what you might qualify for.

Also keep in mind that depending on your credit, you might need a creditworthy cosigner to get a private student loan.

Tip: Having a cosigner might also qualify you for lower rates than you’d get on your own — so it might be a good idea to apply with a cosigner even if you don’t need one.

Check Out: Student Loans Without a Cosigner

Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act (SCRA) provides financial and legal protection to military members and their families.

The benefits from the SCRA include lower interest rates from creditors, eviction prevention, life insurance coverage protection, and more. Learn more here.

If you decide to take out a college loan, be sure to consider as many lenders as possible to find the right loan for you. Some lenders also provide special military benefits.

Credible makes it easy to compare multiple lenders — you can see your rates from our partner lenders in the table below in two minutes.

LenderFixed rates from (APR)Variable rates from (APR)Loan termsMilitary benefits


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.63%+ 1.62%+ 5, 7, 10, 12, 15, 20
(depending on loan type)
Active duty military deferment
  • Fixed APR: 4.63%+
  • Variable APR: 1.62%+
  • Min. credit score: 540
  • Loan amount: $2,001 to $200,000
  • Loan terms (years): 5, 7, 10, 12, 15, 20
  • Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: None
  • Discounts: 0.25% to 1.00% automatic payment discount, 1% cash back graduation reward
  • Eligibility: Must be a U.S. citizen or permanent resident or DACA student enrolled at least half-time in a degree-seeking program
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 24 months
  • Loan servicer: Launch Servicing, LLC


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
3.47%+1 N/A5, 10, 15SCRA benefits
  • Fixed APR: 3.47%+1
  • Variable APR: N/A
  • Min. credit score: 720
  • Loan amount: $1,000 to $350,000
  • Loan terms (years): 5, 10, 15
  • Loan types: Any private or federal student loan
  • Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay, loyalty
  • Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner)
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: After 36 months
  • Loan servicer: Firstmark Services


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
3.49%+2,3
1.19%+2,3 5, 8, 10, 15SCRA benefits
  • Fixed APR: 3.49%+2,3
  • Variable APR: 1.19%+2,3
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to cost of attendance
  • Loan terms (years): 5, 8, 10, 15, 20
  • Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 24 months
  • Loan servicer: College Ave Servicing LLC

edvestinu student loan refinance

Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
3.52%+7 3.06%+7 7, 10, 15Military deferment
  • Fixed APR: 3.52%+7
  • Variable APR: 3.06%+7
  • Min. credit score: 750
  • Loan amount: $1,000 to $200,000
  • Loan terms (years): 7, 10, 15
  • Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 36 months
  • Loan servicer: Granite State Management & Resources (GSM&R)


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
3.33%+8 1.7%+8 5, 10, 15Check with lender
  • Fixed APR: 3.33%+8
  • Variable APR: 1.7%+8
  • Min. credit score: 670
  • Loan amount: $1,001 up to cost of attendance
  • Loan terms (years): 5, 10, 15
  • Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance
  • Fees: Late fee
  • Discounts: Autopay, reward for on-time graduation
  • Eligibility: Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: After 48 months
  • Loan servicer: American Education Services


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
3.75%+ N/A10, 15Military deployment forbearance
  • Fixed APR: 3.75%+
  • Variable APR: N/A
  • Min. credit score: 670
  • Loan amount: $1,500 up to cost of attendance less aid
  • Loan terms (years): 10, 15
  • Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance
  • Fees: None
  • Discounts: None
  • Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 48 months
  • Loan servicer: American Education Services (AES)


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
3.75% - 12.85% APR9 1.87% - 11.97% APR9 5, 15
  • Military service deferment or forbearance
  • SCRA benefits
  • Fixed APR: 3.75% - 12.85% APR9
  • Variable APR: 1.87% - 11.97% APR9
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to cost of attendance
  • Loan terms (years): 10 to 15
  • Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner.
  • Customer service: Phone, chat
  • Soft credit check: Yes
  • Cosigner release: After 12 consecutive on-time payments
  • Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures

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Eric Rosenberg
Eric Rosenberg

Eric Rosenberg is an expert on personal finance. His work has been featured at Business Insider, Investopedia, The Balance, The Huffington Post, MSN Money, Yahoo Finance, Mint.com and more.

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