Veterans' Education Benefits: Comparison of Federal Assistance Awarded to Veteran and Nonveteran Students
GENERAL ACCOUNTING OFFICE WASHINGTON DC
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The Veterans Education Assistance Act of 1984 created the Montgomery GI Bill-known as GI benefits-U.S.C. Title 38 Chapter 30, a benefit program that provides a monthly stipend to pay for postsecondary education expenses for veterans and eligible service members. Recently, concerns have been raised about whether GI benefits adequately cover educational costs and whether the receipt of GI benefits affects the amount of other federal financial assistance available to postsecondary students under Title IV of the Higher Education Act HEA and the Internal Revenue Code. Through Title IV, about 46 billion was awarded to students in the form of grants, loans, and work-study programs in the 1999-2000 academic year. The primary Title IV programs consist of 1 Pell grants 2 subsidized and unsubsidized Stafford loans and 3 Supplemental Educational Opportunity grants SEOG, Perkins loans, and work study aid funded by the federal government and administered by participating higher education institutions, commonly known as campus-based aid. Under the Internal Revenue Code, a variety of provisions are available that are designed to help families pay for college. For example, in 1999, taxpayers claimed an estimated 5.2 billion in HOPE and Lifetime Learning tax credits, which allow taxpayers to reduce the amount of taxes owed by receiving a credit for tuition and fees paid.
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