Earned Education Benefits: A Part of Your Retirement Plan

By Alecia D. Blair, Military Saves Communications Associate

Whether you’re retiring from the military soon or still have time to go, the transition from a military-to-civilian career may be the perfect time to cash in on some of your military education benefits if you haven’t already.

Include the education benefits you’ve earned in your retirement plan. Launch your post-military career by advancing your education and bolstering your earning power! Here are some highlights of the Veterans Administration (VA) education programs:

Two Major Revisions, Programs

Signed into law by President Franklin D. Roosevelt on June 22, 1944, the Serviceman’s Readjustment Act—more commonly known as the GI Bill—almost didn’t come to pass as members of Congress debated the bill, according to the U.S. Department of Veterans Affairs.

Fortunately, the GI Bill did pass and continues to live on for Veterans. The GI Bill has undergone two major revisions: 1984’s Montgomery GI Bill and 2008’s Post-911 GI Bill.

 In its latest update, the Post-911 GI Bill, which is administered by the VA, gives Veterans with “active duty service on, or after, Sept. 11, 2001” two enhanced benefits:

  • Educational benefits that cover more expenses, such as a living allowance and money for books
  • The ability to transfer unused educational benefits to spouses or children

Types of Training Approved

While you may use your Post-911 GI Bill to cover the cost of tuition at a college or university, you may also use it to pay for on-the-job training, apprenticeships and flight school training. Check out the types of training the GI Bill covers and assess the type of training you need

Transfer Your Education Benefits

Did you know that “25 percent of those benefitting from VA education programs are non-Veterans?” It’s true, according to the VA. In many cases, education benefits may be transferred to a spouse or dependents. Learn more about the Transfer of Entitlement Option today.

Check Eligibility Today

Since you may be eligible for more than one education benefit and GI Bill program, it is best to explore your options and check your eligibility. Get started today and apply! 

Consider the education benefits you’ve earned as part of your retirement plan. Set a goal. Make a plan. Save Automatically!

Other Related Resources:

Military.com GI Bill
VA GI Bill Pamphlet
Federal Trade Commission: Choosing a College
Military Saves-Veterans: Don’t Get Schooled

Tip of the Day

  • Written by Guest Blogger | May 1, 2014

    Check out the FREE "My Military & Money" app for servicemembers from @BBB and McGraw Hill Financial. More info at https://bit.ly/2Ls1pAf

Saver Stories View all »

Building Wealth by Setting Goals

Written by Super User | April 24, 2013

My name is Allison Mecadon and I’m a Youth Coordinator with the Virginia National Guard Youth Program. My husband, Tom, is an M-Day Army National Guard Member (an M-Day member is one who performs weekend drill, but is not on full-time duty).


A Disciplined Approach to Saving

Written by Super User | November 26, 2010

I just recently retired after 30 years of service with the Marine Corps. I truly enjoyed my time serving the Corps and I flourished in the disciplined environment. I also took a disciplined approach to saving. Here are some of the tactics I used-they are very low to moderate risk.


One That Almost Got Away

Written by Super User | November 26, 2010

Brody Lockwood - Like a typical fledgling, I started down the track of financial indebtedness. Nineteen years old and nothing to lose. Credit - who need it? Savings - that was for older people with responsibility. Debt - my parents were in debt ergo it must be OK. When I was eligible for reenlistment, I reenlisted for a multiple of 3 worth $15K. I was happy to pay off my debt, but would I be able to stay out of debt?