The Post-9/11 GI Bill provides veterans with some of the most generous education benefits since President Roosevelt signed the original bill into law more than 70 years ago. Available to veterans who served after the terrorist attacks of Sept. 11, 2001, the bill has already been used by more than 1.4 million veterans, their spouses and children. According to the Los Angeles Times, about $42 billion has gone towards the cause.
All of this would seem to suggest that veterans are receiving the educational support they are due at little cost to themselves. Unfortunately, that isn't the case.
A Times' analysis of data compiled by the Department of Education showed that veterans attending college were taking on significant student loans despite the funds supplied by the GI Bill. They found that in 2012 – the most recent year with available data – 26 percent of veterans pursuing undergraduate degrees sought private or federal education loans. Expanded over a four-year degree, or even longer, in many cases, a veteran student's debt could easily reach $25,000.
One of the primary creators of that debt are for-profit colleges, which have been targets of withering criticism for their expensive costs and poor job-placement rates. Some for-profit schools have been known to take advantage of GI Bill money and veterans eager for an education by prolonging enrollment time for a degree that may have little worth to civilian employers.
Not every for-profit college has malicious intent. Many offer great flexibility for veterans with busy schedules and can be of great help. But there are enough bad schools out there that veterans have to be cautious before attending. To determine if a school has your best interests at heart, here are some precautions to consider.
Use the GI Bill Comparison Tool to determine each school's benefits. The tool provides a summary of a school's information, such as its public, private or for-profit status, as well as a sampling of complaints from fellow veterans against the school. If the school is under probation from the Department of Defense, like University of Phoenix is, a warning will display on the page.
When it comes to paperwork, be vigilant. Don't just sign your name wherever they tell you to. In fact, it's better that you exercise a healthy distrust of whatever a for-profit recruiter tells you. Any paperwork related to financial aid or use of your GI Bill money should be taken home and examined carefully. And if you're promised anything, anything at all, get it in writing.
Do your research and ask probing questions. Seth Frotman of the Consumer Financial Protection Bureau told U.S. News & World Report that "Consumers should make sure they ask tough questions when choosing a school, including cost, the ability to transfer credits and whether it can qualify you for a job in the field you want." Research a school's graduation and employment statistics with sites like the Department of Education's College Scorecard to determine if a school can offer you what you need.
Your last and best resource may be other veterans who have already gone through the process. William Hubbard, Student Veterans of America's vice president of government affairs, recommended that veterans "Connect with current student veterans at the school. That's the best source of information."
When it comes to your education and life after service, remember to slow down. It's too easy to get swept up in readjustment to civilian life. Instead of immediately putting your GI Bill money into action, fully use the many resources at your disposal, plus your own good judgment, to determine which path best fits your goals.