MBA programs provide veterans with a valuable gateway into the business world, offering them opportunities to enhance their career prospects and boost salaries. Military students have access to a range of financial aid options. These include GI Bill benefits, federal student loans and private scholarships that you may learn more about below.
1. General Affordability
Many military friendly MBA programs provide affordable rates and tuition discounts to active duty, veterans, and military spouses. Savings can range anywhere from 10 to 15% off normal tuition prices at some schools.
Discounts may include other benefits like college grants or financial aid – making online education incredibly accessible for military families. A military MBA can be expensive for most people, but these discounts for the entire family make it possible. However, students must ensure they select an accredited school instead of a fly-by-night program.
Accredited institutions maintain stringent criteria for student learning outcomes and faculty qualifications. Furthermore, many hold specialized accreditation in fields like business, education, social work, or healthcare.
Some schools accept the Yellow Ribbon program, which covers additional tuition costs for active duty service members and their dependents. These grants can save students hundreds of dollars each semester.
Many schools offering benefits to military students include a special enrollment coordinator to aid with the application process and access to housing. Schools may offer scholarships or fellowships for eligible veteran students.
The University of Utah, for instance, offers a fully online MBA from its David Eccles School of Business. This program boasts an accommodating curriculum and can be completed within 24 months.
2. Yellow Ribbon Program
If you’re a veteran looking to pursue an MBA, the Yellow Ribbon Program (https://www.va.gov/education/about-gi-bill-benefits/post-9-11/yellow-ribbon-program/) may be worth considering. This program helps cover any gaps between your GI Bill benefits and tuition expenses at eligible schools.
At a time when college tuition rates are sky-high, the Yellow Ribbon Program offers an alternative solution to make higher education more accessible. This initiative is the result of collaboration between schools and government, with both parties contributing funds towards covering your tuition expenses.
The Yellow Ribbon Program is available to eligible veterans, spouses of veterans and dependents. Eligibility is determined by the VA based on your service record and honorable discharge.
Yellow Ribbon schools may be public or private, and they’ll provide you with the same financial assistance as your GI Bill. This includes a monthly stipend that’s typically equivalent to full-time salary for one year of study.
Some of these schools are accredited by the Association to Advance Collegiate Schools of Business (AACSB), making them highly-regarded colleges and universities. You’ll have access to an excellent online support system as well as a range of career services designed specifically with veterans in mind to help you find your post-military path.
3. Easy Recruiting
Make sure your school is military-friendly because many business schools provide support, resources and benefits specifically for veterans and their families. A military-friendly program can assist you with the admissions process and provide networking opportunities. Some schools even have dedicated veteran clubs to ensure you feel welcomed on campus.
Some of the world’s best business schools feature a military service member on their leadership team, while others have alumni networks specifically tailored to veterans and their families. These connections can help ease your transition into civilian life as well as give advice and insight into veteran-friendly businesses that are hiring.
Recruiting services for veterans vary depending on the school, but usually include assistance during the admissions process, support with resumes and interview preparation, as well as job placement assistance. Some schools even offer military scholarships to veterans.
Earning an MBA can be a great way to bridge the gap between military and civilian life. It will enable you to apply your leadership, management, and strategy abilities into a job with higher salary potential – according to the Graduate Management Admission Council, MBA graduates typically make 22% to 40% more than their counterparts with bachelor’s degrees.
4. Online Classes
Many students in the military find it challenging to pursue college and finish their degrees due to frequent moves between bases and managing family responsibilities. Fortunately, there are now numerous online classes available to assist these individuals in obtaining their degrees and launching successful careers.
The top online MBAs for military personnel offer flexible curricula that allow students to fit their courses into a schedule that works around their commitments. Many offer accelerated programs that enable individuals to complete their degrees faster.
In addition to offering a range of degrees and concentrations, many online schools also provide student services to aid learners in reaching their academic and career objectives. This could include virtual job fairs, resume reviews, career assessments, as well as other assistance.
When selecting an online MBA, which you can learn about here, veterans must first check with their VA to see if they qualify for any benefits that could cover the expense. These could include the GI Bill or Yellow Ribbon Program. Having these advantages can be invaluable in covering tuition and other educational expenses.