Looking really far into the future here, but if I were to join the military, could that potentially cover my future children's college tuition?
Yes, your military service may potentially cover a portion of your future children's college education via benefits such as the Post-9/11 GI Bill. Previously known as the Education Assistance Program or the GI Bill of Rights, this program provides educational assistance to service members, veterans, and their dependents.
Under the Post-9/11 GI Bill, you may transfer all or some of your unused benefits to your spouse or dependent children. The option to transfer is open to any member of the armed forces (active duty or Selected Reserve, officer or enlisted) on or after August 1, 2009, who is eligible for the Post-9/11 GI Bill, and meets additional criteria.
This can cover tuition and fees payments to the school, a monthly housing allowance, and a books and supplies stipend, among other benefits.
However, it's important to note that regulations may change over time, so it is always good to stay updated on the benefit policies, eligibility criteria, and the procedure required to transfer the benefits. It also doesn't cover the full cost of college for some private schools, so depending on the college your child wants to attend, there still may be remaining costs to pay.
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