What Does it Mean to be a Yellow Ribbon School?
Academic institutions can choose to participate in the Yellow Ribbon Program which offers more financial aid to student veterans.
When it comes to veteran education benefits, things can get confusing quickly. The differences in GI Bills, for example, can leave both a veteran and an academic institution wondering what exactly is going on. And then there is the Yellow Ribbon Program, which actually falls under the Post-9/11 GI Bill® that applies to private schools.
The intent is to make private schools more affordable for veterans. The payments from the Post-9/11 GI Bill are limited to an amount mandated by the government, and that amount changes each year. It hardly covers the whole amount.
For the 2020-2021 school year the maximum amount was $26,042.81. Information for the 2021-2022 school year is expected to be released with the final list of participating schools in late July, early August.
How does this work?
Here's an example, a private university costs $40,000 a year in intuition. However, they participate in the Yellow Ribbon Program, and they waive $10,000 in costs for veterans. Then the VA matches that waiver and now students are looking at $20,000 a year in tuition. When the Post-9/11 GI Bill is applied, students will then be responsible for even less, if any, out-of-pocket expenses.
Can the school change the amount?
A school's participation in the program is voluntary, which means they can limit things like which degree programs they allow and how many participants. Schools also have to apply for their initial participation and then can make changes to the program in the spring of each year.
Foreign schools who wish to participate can also apply to participate in the program.
Can anyone military-associated use it?
The program has eligibility requirements that dictate who can participate in this program. Anyone, including dependents, who are entitled to the benefit rate can use the funding. Beginning on August 1, 2022, active duty service members may use this benefit, though they were previously ineligible.
Most military-affiliated students who are interested in attending private schools are going to be looking for financial assistance. When a school participates in the Yellow Ribbon Program, it makes it easy for that student to get some help paying for school.
However, a school that doesn't participate in the program can still support veteran students -- and veterans know this. There is more to supporting veterans in education than giving them money. Here are some other ways to support student veterans and help them feel comfortable at your school.
