The IRS has stated that the VA education benefits received by veterans are not taxable, as they are categorized as tax exclusions protected by the GI Bill Programs.
The GI Bill program represents a set of benefits that are instrumental in helping you pay for school and expenses you may incur during the training for a job. The GI Bill helps families cover either the full cost or part of the cost of their training or educational expenses. Hence, benefits under this program, including the VA Education Benefits, cannot be taxed.
What are VA education benefits?
The VA Education Benefits are a set of programs set up by the United States government under the Veterans Affairs (VA). The program has the basic goal of helping veterans, service members, or members of their families who are qualified and will need some level of assistance with paying their college tuition or finding the right schools or institutions that will aid them in their future pursuits, especially in the area of building a career.
The VA Education Benefits are instrumental in the reduction of the cost of purchasing materials needed by qualified members of the Veterans or Ex-Servicemen. More than this, the VA Education Benefits also offer you the chance to explore the options of foreign programs, as it can also help you reduce the cost of tuition abroad if you decide to study outside of the US.
Who is eligible for VA Education Benefits?
The VA Education Benefits are not social security benefits available to every US citizen; you have to meet the following requirements to be considered a recipient of the program.
- You served for 90 days after September 10, 2001. It does not matter whether your service was interrupted or it was done all at once.
- If you were discharged for service-related disability after serving for at least 30 days. This criteria is enough for you to receive the VA Education Benefits.
- More than this, if you also received a Purple Heart after September 10, 2001.
How much are VA educational benefits worth?
VA Education benefits are worth between $14,055 and $28,937.09 in payments that will help you as a recipient go through your educational pursuit depending on the type of school you choose to attend, while also providing you the chance to cut down on spending with the rates that you receive. The payments will be able to cover costs such as housing allowance, tuition, and fees, books, and stationery, as well as funds that will help you move from a rural area alongside other payments that you might need to make
