How Does the Navy College Fund Pay?
For students who are looking for funding for their college education, the United States Navy offers a variety of funding programs for college students. In return for agreeing to serve in the Navy, the Navy agrees to pay for some or all of the student's college education costs. The funding programs are available to those both already in the Navy and those considering the Navy.
Other People Are Reading
-
Baccalaureate Degree Completion Program (BDCP)
-
This Navy college fund program allows students to focus on their studies, putting off military service until after graduation. The student is eligible to receive up to $155,000 in college funding under this program, including money for room and board. Students in this program do not have to work a job or be active in the Navy during their academic years. The Navy issues a monthly payment to the student while in school. Upon graduation the student is assigned to a Navy position that lasts a minimum of 4 years.
(See Reference 1)
Naval Reserve Officers Training Corps (NROTC)
-
This program is similar to the Army's ROTC program. Students sign up before the start of college or in the early years of their college education. The program awards students a college scholarship paid to the school based on their participation in the NROTC program. The program requires active training and Navy activities during college. This program may not be available at all schools.
(See Reference 1)
-
The Montgomery G.I. Bill (MGIB)
-
A bill passed by the government allows for active Navy members and those who have already completed active duty, to get funding for up to 36 months of full time college course work. Active duty personnel and those who have completed an active duty requirement agree to take a $100 per month reduction in their military pay. In exchange, the Navy will provide up to $36,000 per student for full time study.
(See Reference 1)
The Navy College Fund
-
This fund is directly tied to the Montgomery G.I. Bill program. Students enrolled in the G.I. Bill program can also apply for the Navy College Fund. Students interested in this fund must score a 50 or higher on the ASVAB (Armed Services Vocational Aptitude Battery), a standard military entrance test. In addition the student must be a high school graduate and qualify for designated Navy jobs and roles which are determined by the student's local Navy recruiter. If approved, the student receives on average $15,000 in college funding in addition to the $36,000 they are eligible for under the G.I. Bill.
(See Reference 1 and 2)
Considerations
-
A student who is considering Navy college fund money should carefully consider his end of the agreement. Service in the Navy in exchange for college funding may require a minimum of four years of full time service. Also failure to complete a college degree program or failure to fulfill military duty could result in the student having to pay back some or all of the fund money.
Interested students should speak to their local Navy recruiter or visit the NROTC office on campus for more information about college funding from the Navy. Always read over the fine print and be sure you fully understand the requirements of the program before signing up for the Navy college fund.
-
