Getting an MBA can be a natural next step from military service. Veterans have leadership skills that top MBA programs look for, and the combination of military service followed by an MBA catches employers’ attention.
That’s the good news. The even better news is that getting a top MBA just became more affordable for veterans, thanks to a new program at Yale School of Management.
The school announced this week that a new agreement with the Department of Veteran Affairs will cover the full cost of tuition and fees for eligible veterans.
Specifically, “eligible veterans” refers to veterans at the maximum benefit level, according to the VA. Starting in 2022, that will also include active duty service members.
The financial assistance is provided under the Yellow Ribbon Program, in which the VA matches the school’s contribution toward tuition costs up to a certain amount. Yale SOM was already participating in the Yellow Ribbon Program, but the new agreement allows the full cost of tuition and fees to be covered.
Anjani Jain, Yale SOM’s deputy dean for academic programs, said “Many Yale SOM veterans have told us that the school’s mission-focused approach to leadership fits well with the service orientation they cultivated in the military.”
He added that veterans “bring unique and powerful leadership experiences to our community” and that the school was “thrilled to have this opportunity to lower the financial barrier for military veterans seeking a management education at Yale SOM.”
Yale SOM has initiatives to support students who are veterans, such as the Yale SOM Veterans Club. According to the school, 29 students were military veterans this year, of whom 16 were part of the Yellow Ribbon Program. Those continuing their studies will benefit from the new agreement.
With the full cost of tuition covered, however, Yale SOM’s benefits are among the most extensive. Other top business schools like HBS and Wharton also offer significant financial aid through the Yellow Ribbon Program.
Top B-schools are eager to draw veterans because they often have the traits necessary to excel as MBA students.
If you have questions about how military experience fits into the MBA application process, we’re happy to help. Get in touch with us and we’ll do a free MBA application assessment!