Invest in Yourself With Education

Article Provided by Strayer University

A college degree is expensive, but not having one may cost more in the long run. How much more? You could be missing out on upwards of one million dollars in a lifetime. The U.S. Census Bureau estimates that during a 40-year career, high school graduates earn about $1 million, while workers with a bachelor's degree earn $2.1 million and those with a master's degree earn $2.5 million.

Ok, so you get that education is a sound investment, but that won't help you with tuition costs. When you apply to college, your first step should be filling out the free Federal Application for Federal Student Aid (FAFSA). This form will help you determine what kind of federal student loans and grants you are eligible for, if any. Be sure to include any combat pay on your FAFSA form, as this income is considered by the government when assessing financial need. You can fill out the FAFSA online at http://www.fafsa.ed.gov.

Take note: you may be considered a "veteran" by FAFSA even if the Department of Veterans Affairs does not consider you one. If you were a member of the National Guard or a Reservist called to active duty for purposes other than training and were released under a condition other than dishonorable, you are considered a veteran for FAFSA purposes. Also, if you are on active duty in the Army, Navy, Air Force, Marines or Coast Guard, but will be a veteran by June 30 of the year in which you are applying for FAFSA, you are considered a veteran when filling out the form.

Did you know?

You know about the Montgomery GI Bill and other tuition assistance programs for current and former members of the U.S. Armed Services. You may not know, however, about a new Department of Defense education benefit program that provides educational assistance to members of the Reserve components who have been called or ordered to active duty in response to a war or national emergency since Sept. 11, 2001. Eligibility for the benefit, called Chapter 1607, is determined by the Department of Defense and the Department of Homeland Security. Generally, a member of the Reserves who has served in a contingency operation for 90 consecutive days should have access to the new benefit. In addition, some National Guard members who have served in contingency operations for 90 consecutive days since September 11, 2001, are also eligible. To learn more, visit www.military.com/gibill.