How the Yellow Ribbon Program Can Help Veterans
The Yellow Ribbon Program is another option to help offset tuition costs not covered by the Post-9/11 GI Bill. (Unsplash)
During the 2019-20 academic year, the average student paid $3,870 for in-state tuition and fees at public, four-year institutions. For veterans using their Post-9/11 benefits, the GI Bill® covers the entire cost of in-state tuition at public colleges and up to that amount at private institutions. But it’s not always enough.
There are many other options to help offset those additional costs, and the Yellow Ribbon Program is one of them.
Yellow Ribbon Program: How it Works
Veteran students who are eligible for the full Post-9/11 GI Bill – eligibility is determined by a few things -- are also eligible for the Yellow Ribbon Program. The program is an agreement between the institution and the Department of Veterans Affairs to help make up the cost of tuition and mandatory fees between what’s been covered by the GI Bill and what’s still owed. This helps defray students’ out-of-pocket expenses.
The VA matches what the school puts into the program, so if a school pays up to $10,000 per student per term, the VA will also pay $10,000. This extra amount is very helpful for programs that cost more, like law school.
The Yellow Ribbon benefits can continue throughout your degree program, as long as you continue to make acceptable progress toward completing your program, stay enrolled in the school and have money left in your Post-9/11 GI Bill benefits, according to the VA.
Who Else is Eligible?
And, another note. The Yellow Ribbon program is also available to dependent children using transferred Post-9/11 GI Bill benefits from a veteran or service member who qualifies for 100%. Students on the Fry Scholarship, available for spouses and children of those who have died in the line of duty since Sept. 11, are also eligible for the Yellow Ribbon program.
Yellow Ribbon eligibility will open up to active-duty service members who qualify for the full Post-9/11 GI Bill or their spouses using transferred benefits starting August 1, 2022.
