Wednesday, December 19, 2012

Financial Aid For Military Schools

Many students of military schools attend on financial assistance.


Many types of financial aid are available for military schools. At the high school level, options include grants, loans and scholarships; at the collegiate level, many military school students take advantage of the Reserve Officers Training Corps, which provides full tuition and a stipend in exchange for a service commitment after graduation.


Grants and Scholarships


For high school military academies, grants and scholarships are available from many sources. One of the most common sources is the military academy or school itself. The Massanutten Military Academy in Virginia, for example, offers music and art scholarships, plus scholarships for students who have siblings enrolled or are legacies. More than 40 percent of all high school military students attend school on full scholarships given by their schools, according to the Military School website. Prospective students should inquire at their schools' financial aid office to see if they qualify for grants or scholarships.


Loans


If a student does not qualify for a grant or scholarship, his parents may take out a loan to finance tuition at a high school military academy. All these loans are private. Some common sources for K-12 private school education loans include Sallie Mae's Family Education Loan, which allows borrowers to take out the full cost of tuition each year and an additional $6,000 for education-related expenses, and Citibank's CitiAssist K-12 loan, which allows parents to take out up to $15,000 per year. At the collegiate level, students who need loans may, depending on financial need, take out Stafford or Perkins loans with more favorable interest rates than private loans. Students who need financial aid for college should fill out the Free Application for Federal Student Aid online to see if they are eligible.


ROTC


Students interested in enrolling in the military after military school can join either the Reserve Officers' Training Corps in college or the Junior ROTC (JROTC) in high school. The JROTC does not offer students a scholarship for joining, but enrollment in the collegiate ROTC generally entitles a student to a full-tuition scholarship, additional funds for books and fees and a stipend of up to $5,000 per year. Students must commit to serve in the military after graduation for a certain number of years, which varies by branch.

Tags: high school, high school military, school military, after graduation, collegiate level