SMI's managing editor Matt Bell joined Faith & Finance host Rob West last week to talk about how Uncle Sam will pay the full bill for a college education for those willing to serve in the U.S. military.
To listen, click the play button below. Scroll down to view the transcript.
Faith & Finance airs weekday mornings on American Family Radio. A different version airs weekday afternoons on Moody Radio.
(More radio appearances by members of the SMI team are posted on our Resources page.)
Transcript
Rob West
With college costs, soaring families are exploring every possible avenue. But one meaningful option doesn't get nearly enough attention — military service.
Hi, I'm Rob West. For students who feel led to serve, military pathways can provide full tuition, a monthly stipend, and unmatched leadership development. Matt Bell is here today to walk us through how these programs work.
And we have lots of great listener questions ahead, but we won't be taking your live calls today because this program is prerecorded. This is Faith & Finance on American Family Radio. (opening music ends)
Matt Bell is the managing editor at Sound Mind Investing, one of our valued underwriters. And he brings a personal connection to today's topic. One of his sons is currently attending the US Air Force Academy, and we're delighted to unpack this amazing opportunity.
Matt, welcome back!
Matt Bell:
Thanks so much, Rob. Great to be with you again.
Rob West:
Matt, with college costs climbing faster than inflation, it's no surprise that many parents feel overwhelmed, and you note in your soundmindinvesting.org article that military service is an often missed — but significant — way to fund higher education. Tell us why that is.
Matt Bell:
Yeah, Rob, for the right student — and that's the key for the right student, someone who's willing to serve their country and take on hard things — the military offers really generous education benefits. And there are several pathways — these aren't the only pathways — but several pathways include the five U.S. Service Academies and also the ROTC, which stands for Reserve Officers' Training Corps.
So in addition to being able to graduate from college debt-free through these pathways, each one provides some really incredible leadership training and other experiences that you just can't get anywhere else. For example, our son is right now debating for this summer's activities to either go to jump school — that's learning how to parachute — or go to soaring school, which is about learning how to fly a glider. So those are not typical college experiences.
Rob West:
That's incredible. Well, let's unpack each of these. I want to start with the service academies. So what are they, and what should families understand about the application process?
Matt Bell:
Sure. So there are five US Service academies. There's the military academy, otherwise known as West Point. There's the Air Force, Naval, Coast Guard, and Merchant Marine Academies. At each one, tuition and room and board are fully covered. Plus there's a monthly stipend for the students.
The academies are tough to get into. They're very selective. Some have an acceptance rate as low as nine or 10%. So they're looking for students that have a great academic record from high school, strong scores on their ACT or SAT, fitness — a lot of these students have been varsity athletes in high school.
They're looking for leadership, not just participation in clubs, but leadership roles and character. So they need some letters of recommendation from people who can vouch for their character.
And, Rob, as if all that's not enough, then they need a nomination from a member of Congress, or even the vice president of the United States. That's true for all the academies except the Coast Guard. And that's quite a process unto itself.
Rob West:
Yeah, that is a high bar. All right, well, what happens after students graduate from a service academy?
Matt Bell:
Sure. So they're committed to serving five years of active duty, plus three years in the reserves. So in that sense, this is not a free education. They pay for it with their service to their country. And then there's some specialized tracks, like if you become a pilot — if you're chosen for pilot training — that's a 10-year commitment after that training experience.
But as I said, all of these students graduate as officers. They gain invaluable leadership experience and other types of experiences, and they have access to a wide range of career options.
Rob West:
That's really helpful. We've got about 90 seconds left. Let's do a flyover of the ROTC. How does that differ?
Matt Bell:
Sure. So, it's offered at more than 1,700 college campuses. It's more of a traditional college experience in that these students who are accepted into the ROTC, they're in uniform a day a week versus all the time at the academies. Scholarships can cover tuition and room and board.
They graduate as officers at the exact same rank as at the academies, and they have a little bit, a slightly lower service commitment afterwards, but still are committed to serving their country.
Rob West:
So what would you leave parents with who are listening today as to how to make the right selection?
Matt Bell:
I think one of the overriding things that anybody needs to really, really keep in mind if they're considering this pathway is that, yes, there's no college debt once you get through one of these programs.
And yes, it's an incredible experience and very prestigious to have gone through one of these programs, but at the end of the day, you're signing up for service to your country, and that includes the possibility of going to war.
Rob West:
Yeah, that certainly matters, and an important note. Matt, really important information. I'm delighted you wrote the article on it where our listeners can get more information. Thanks for being here today.
Matt Bell:
It's my pleasure, Rob. Always good to talk with you.
Rob West:
That's Matt Bell, managing editor at Sound Mind. Investing. For decades, SMI has helped everyday investors make wise decisions with clear, proven strategies rooted in biblical wisdom. Learn more at soundmindinvesting.org.
Back with your questions after this.
