Study Looks at Why Veterans with GI Bill Benefits Take out Student Loans
Feb 3, 2022, 12:56 PM
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New survey finds that nearly six in ten veterans who have taken out student loans cited living expenses as their primary reason for borrowing.
A new survey found that nearly six in ten veterans who have taken out student loans cited living expenses as their primary reason for borrowing, reports Pew Charitable Trusts.
The survey, conducted for Pew Charitable Trusts, sought to find out why so many veterans take out student loans despite having access to GI Bill benefits that cover full tuition at public universities and partial tuition at private universities, as well as offer stipends for books and housing. According to a previous Pew survey, just over a quarter of veterans in undergraduate programs took out loans.
The new survey found that 58 percent of those who took out student loans said they did so to cover housing (21 percent) and day-to-day expenses such as groceries or child care (17 percent). The survey also found that 42 percent cited educational expenses as the primary cost they borrowed to cover.
Pew plans to further study the scope and scale of veteran student loan debt in the coming months.
The Pew Charitable Trusts
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