Your "Education Bank Account" and the New GI Bill

An “Education Bank Account”? It does make sense; we have an account for many things: such as, how much time and effort we put into our job; our lifestyle; our car(s); our families; friends; church, etc. You add to each account as you place resources into them which can be your funds, your time, your emotions, etc. So as we finish the series on your Education Bank Account what we have learned? We know education is important to your job progress, promotions and lifestyle; there have been huge strides to make it easier for veterans to place value into their accounts with off duty or full time student status; the colleges are making it easier for you to get credit for military experience, and the classes are offered in many variations/modes to allow you the best possible access!

Many veterans do not know they can get credit for their experience and need to pursue this with any school they are considering to attend! Get the best dollar for your account! The American Council on Education determines the number of credits you have earned through your service. Be sure the school accepts your experiences and determine how many hours they will credit to your account to help you fill the degree requirements. The school administrators can give you a preliminary expectation of credit but a final determination will be made. Be sure to follow up. Military friendly schools such as Central Michigan may allow up to 50% of degree credit from your military experience.

Can you test (CLEP and Dantes) out of requirements? School policy will determine the requirements but ask! Just think; if you are working in accounting and finance why should you take Accounting 101 if you can test out of the course? The same is true for many specialties.

Ready, Set, Go!

Get your plan in action, choose a school, get credit for military experience, sign up for your first class, test out of classes you do not need!
Use the GI Bill to your maximum benefit and add to that Education Bank Account! Best wishes for a successful course of study and expanding those horizons!

PS: Again, thank you Dr. Hancock, VP/Executive Director of Off-Campus Programs at Central Michigan University, for your help with providing this information to our veterans! Central Michigan University has campus programs at 22 military installations, 2 VA Hospitals and 2 DoD Agencies. Quite an outreach program to assist you with your veteran education benefits! You can see more about CMU by going to the MilitaryAvenue Education Center and clicking on the CMU banner!

Note: Dr Hancock commended the efforts of the services to help you grow your education account but she also commented that installations need to insure that they keep the education centers fully manned and provide critical command support to the centers. She commented that the ed centers are the key to helping you stay involved in education and if they lose command support or interest then their quality will go down and impact the education you receive! I remember in my last command position in the Air Force attending multiple events hosted by the education center! If you know of a graduation, special event tell your supervisor about it! They may not know about it or just need to know you are interested in their attendance/participation. So stay involved and visit your education center often!


  1. Col K,
    Having just retired from 14 years in the financial aid office at a large state university in NY state, I can only say that your comments are absolutely wonderful. A student should know their rights, their eligibility, the benefits that serving our country has in store for them as Veterans.
    Thank you on their behalf.

  2. This comment has been removed by a blog administrator.

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