What is the Army College Fund?
The Army College Fund (ACF) is an enlistment benefit that can be added to either the Montgomery GI Bill or the Post 9/11 GI Bill entitlement. The ACF is an incentive, like a signing bonus, and is only offered to people who enlist in military occupational specialties where the army has a shortage or a critical need, but it can add a lot of value to the GI Bill entitlement.
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Eligibility Requirements
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The ACF is only available upon enlistment; soldiers who are already in the army cannot apply for it. Details of the ACF are added to the enlistment agreement. To be eligible for the ACF, you must have no previous service in the army, have a high school diploma when you begin active duty and an Armed Forces Qualification Test score of 50 or higher. You must also enlist in one of the military occupational specialties which have been designated as part of the ACF program. These change all the time, depending on where the Army is experiencing shortages. The ACF is only available to enlisted soldiers.
ACF Entitlement Amounts
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The amount available for the ACF differs depending on whether you are using it along with the Montgomery GI Bill or the Post 9/11 GI Bill. Amounts also change form year to year. For example, in 2009, the maximum amount of the ACF and Montgomery GI Bill combined were:
2-year enlistment -- $44,028
3 years -- $63,756
4 years -- $70,956
5 years -- $78,156
6 years -- $81,756 (the maximum)
The combined ACF and Post 9/11 GI Bill amounts vary a great deal from state to state. -
Possible Drawbacks
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The ACF is combined with the GI Bill, so in order to get the ACF you must participate in one of the GI Bill programs. The amount available goes up for every year of service but is capped at six years--if you have served more than six years you cannot get any additional ACF money. Accepting the ACF also usually means that the enlistment bonus you are offered will be decreased or eliminated. Because the ACF is always combined with the GI Bill, the money can only be used for college or further training. The money is paid out in monthly installments along with GI Bill payments, or directly to the educational institution.
What ACF Money Can Be Used For
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The ACF and GI Bill money can be used for graduate and undergraduate courses, technical and vocational training, online and correspondence courses, apprenticeships, work-study, advanced flight training, licensing and certification training and other courses that have been approved by the Department of Veterans Affairs. In some cases, under the Post 9/11 GI Bill, the money can be transferred to other members of your family, such as your children or spouse, to use for their education.
Losing Eligibility
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You can lose your eligibility for the ACF if you do not qualify or do not remain qualified for the military occupation speciality that you enlisted under, or if you do not complete the minimum time-in-service requirements. If you separate before completing your original enlistment, you can still receive part of the ACF, on a pro-rated basis, as long as you met the eligibility requirements for the GI Bill you signed up under.
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References
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