How to Take Advantage of the Army College Fund

Posted by Anonymous , 9/4/2007 Tags:TakeAdvantageArmyCollegeFund
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How to Take Advantage of the Army College Fund

Introduction

The Army College Fund (ACF) and the Montgomery GI Bill (MGIB) provide soldiers up to $72,900 to pay for college. While all soldiers may participate in the MGIB, not all qualify for the ACF, which provides up to $39,000 in added support to the MGIB. Depending on your enlistment period and your chosen job, you may be eligible for the Army College Fund.

Instructions

Difficulty: Challenging

Steps

1

Step One

Determine if you qualify for the Army College Fund. You must have no prior military service and you must have a high school diploma.
2

Step Two

Contact your local Army recruiter or Military Entrance Processing Station for guidance including when and where to take the Armed Forces Qualifications Test. You must score a 50 or higher on the test in order to be eligible.
3

Step Three

Choose a Military Occupational Specialty covered by the ACF. Benefit amounts and the types of qualifying jobs change frequently, so make sure you get updated information from your recruiter.
4

Step Four

Join the Army College Fund at your initial enlistment period. You cannot join the ACF program after your initial enlistment. There are no exceptions.
5

Step Five

Enroll in the Montgomery GI Bill program. You must participate in the MGIB to be eligible for the Army College Fund.
6

Step Six

Enlist for a minimum of two years. The ACF covers up to six years of enlistment.

Tips & Warnings

  • You must be a full time college student to receive Army College Fund and Montgomery GI Bill benefits.
  • Officers are not eligible for the Army College Fund.
  • Be aware that your enlistment bonus likely decreases if you enroll in the ACF.
  • You forfeit your ACF if you don't stay qualified in your designated job or if you don't complete the minimum time-in-service requirements.
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