Author:
Kelli Smith
The U.S. Bureau of Labor Statistics\’ latest wage data survey shows that the median weekly salary for an average worker with a four year college degree is $1,145. The same survey shows that the median weekly salary for an average worker with a high school diploma and no college education is $621. That is a difference of $524 a week which over a 30 year career results in an additional $817,440 for the worker with a college degree.
The same survey found that from 1978 to 2006 the wages of an average worker with a high school diploma increased by an average of 2.5 percent per year after being adjusted for yearly inflation. Workers with a college degree had their yearly earnings increase by 5.2 percent over the same period after being adjusted for inflation. This survey, and just about any other that you review, proves that a college degree is a very worthwhile investment of time and money.
Only 30 Percent of Recent Veterans Use their GI Bill
The U.S. Military and the Federal Government reward those who serve their Country, and one of the ways they do it is by providing military educational benefits for active duty military personnel, veterans, and their families. The largest benefit is known as the GI Bill. You have earned these benefits, yet the Department of Veterans Affairs (VA) has found that over recent years only about 30 percent of eligible veterans have used their GI Bill benefits to attend college, and an even smaller percentage have used those benefits to earn a degree.
Today\’s job market is tough, and all indications are that it will remain tough for awhile. Having a college degree can give you an advantage, and as a veteran there is no excuse not to earn one; there are programs in place to assist you financially, and many colleges offer online classes to make it easier for those with a busy schedule.
Learn How to Use Your GI Bill to Earn a College Degree
Understanding the GI Bill and what benefits you are eligible for can be difficult. The three variations that are used most often now are:
• Veterans Educational Assistance Program (VEAP)
• Montgomery GI Bill (MGIB)
• Post 9/11 GI Bill
If your active duty service occurred during the last 20 years, but prior to 9/11/2001 then the MGIB is the Bill which will provide your benefits. Veterans who had over 90 days of active duty after 9/11/2001 may be eligible for the Post 9/11 GI Bill. Veterans who are eligible for the MGIB may receive up to $49,248 in educational assistance through the VA, and in some cases even more. This maximum benefit amount is adjusted each year for inflation. Veterans eligible for the Post 9/11 GI Bill may receive substantially more than the MGIB provides depending on their circumstances.
You Earned Your GI Bill Benefits, Use Them
The GI Bill was put in place to reward you for your hard work, service, and sacrifice. Don\’t be one of the 70 percent who never use their benefits, if you don\’t understand what benefits you are eligible for, contact someone who can help you out. College and university financial aid offices usually will have someone who understands GI Bill benefits, and there are VA offices throughout the country that can assist you in reaching your education goals.
All of the GI Bill programs have a time period after separation during which the benefits must be used or they are lost. Take action now to take advantage of these great programs to boost your earning potential.
Article Source: http://www.articlesbase.com/education-articles/how-veterans-can-earn-an-additional-800000-before-retiring-3747951.html
About the Author
Kelli Smith writes about colleges and universities, community colleges, online schools, and career development. She is the senior editor at www.CollegesandUniversities.org.