The Veterans' Student Loan Relief Fund and the Iraq and Afghanistan Veterans of America (IAVA) announced last week that they are opening a new round of $5,000 grants for qualified active-duty military, veterans and their families who believe they have been misled by for-profit education companies. Grant applications will be accepted until March 15 and will likely be awarded around Memorial Day. For complete guidelines andapplication, please visit http://iava.org/loan-relief.
False promises of a quality education and high-paying jobs, high-pressure sales tactics, and exorbitant debt are some of the obstacles faced by Iraq and Afghanistan veterans who seek to use their Post 9/11-GI Bill and other education benefits to get an education or technical training. For-profit colleges often see veterans returning from the frontlines as goldmines, since each one represents tens of thousands of dollars in federal benefits and access to lucrative student loans. Unfortunately, many for-profits leave veterans with substandard educations, heavy student loan debt, non-transferable credits, worthless degrees or no degrees at all.
In the past few weeks, federal agencies have launched new web tools to help better inform veterans and allow them to lodge complaints against unscrupulous institutions.
The U.S. Department of Veterans Affairs launched a college comparison tool that will help veterans get the information they need to make good choices about where to pursue college degrees or certificate programs.
The Departments of Veterans Affairs, Defense, Education and Justice, along with the Consumer Financial Protection Bureau and the Federal Trade Commission, created a centralized, online complaint system to help student veterans fight back against the deceptive and fraudulent practices of some colleges and technical training schools.
Since December 2012, the Veterans’ Student Loan Relief Fund, created by Jerome Kohlberg, a World War II veteran and early champion of the Post-9/11 GI Bill, has awarded grants to 21 young men and women who found themselves in excessive debt after attending a predatory for-profit college.
Reach out to our Education Specialist for any questions or needed assistance concerning the application for the Veteran Student Loan Relief Fund.