Post-9/11 GI Bill for MBAs Update

The following Post-9/11 GI Bill Update was provided by John Kang, an active duty Army Captain. I haven't verified the data, but he has done a lot of work on this and details more of his methodology on his blog here.


John has taken my original calculations a step further (as well as updated them to reflect 2010 rates). He includes all tuition costs and income, including living expenses and expected internship pay (before taxes).

Taking the Yellow Ribbon Program into account (if you qualify), the results shows that many top schools offer a tuition free education for veterans, and taking BAH and summer internship pay, one can afford to pay for reasonable living expenses and most end up with anywhere from only $10k to $50k total debt after two years. This is pretty good considering one is not working, includes living expenses for two years, and a top MBA degree.

This reinforces the message I tell a lot of people who write in and are concerned with losing their steady military income. Fear no more. The economics of a military person going to a top business school is extremely favorable. You can make more your first 3-4 years after business school than you probably would in the military over the next 10 years. Whether you want to change occupations though and take that job is a totally different question and I am by no means saying it makes sense for everyone to go business school. I'm just saying that from a purely economic point of view, it is a highly net positive financial decision.