When people ask me how I am paying for school, I have no problem telling them that I am using my husband’s GI Bill. Thanks to the Post 9-11 GI Bill, my husband was eligible to transfer part of that benefit to me and it truly has been a gift.
Obviously when people start looking into furthering their education, one of the most important questions is, how am I going to pay for this? And the answers are many. Grants, scholarships, loans, save up and pay in cash - the list goes on. When I began my educational career, I was lucky enough to qualify for the Pell Grant so my expenses were taken care of. This was a huge weight lifted off my shoulders. I wanted to further my education, but I did not want to go into debt for it. A good friend of mine graduated from law school last year, and along with her degree, she also accumulated $250,000 in school loans. Granted, I am not pursing a law degree, but still. I can buy a house for less than that!
As my husband moved up in his military career and got promoted, the amount I would receive for the Pell Grant was reduced until finally it got to the point that it would not cover all of my tuition anymore. At that point, my husband offered to transfer some of his GI Bill to me so I could finish up my degree. At first I didn’t want him to do that because I didn’t want to take from him what he had earned and had paid into. But after discussing it, we decided it was a good idea. My husband is currently in school as well, so he is taking advantage of Tuition Assistance. He will finish his degree program in about two months, so he won’t use his GI Bill.
So what does this mean for me? It not only means that I will be able to finish my degree, but that I will graduate debt free! How many people can say that? I will have no pressure to hurry up and find a job because my student loans are going to be due soon and I won’t be paying on those student loans for years on end. I can begin my career not in a financial hole, which means a better financial future for not only me and my husband, but for our children as well. That is worth its weight in gold.
