October 22, 2026
Veterans and military-connected students have access to valuable education benefits, but understanding what those benefits cover—and what costs may remain—can be challenging. Students may need to determine their eligibility for VA education benefits, understand how benefits interact with school-based financial aid, and find out whether Yellow Ribbon Program support is available.
For credit unions, this creates an opportunity to help military-connected members navigate their benefits, identify potential funding gaps, and consider financing options when appropriate.
A Changing Education Borrowing Environment
The opportunity to support veterans and their families is significant. According to the U.S. Department of Veterans Affairs, approximately 17.7 million veterans lived in the United States in 2024. The VA also reported $13.7 billion in education program payments for fiscal year 2025, highlighting the scale of federal resources supporting veterans, service members, and eligible family members pursuing education and job training.
At the same time, federal student loan rules are changing.
Beginning July 1, 2026, Grad PLUS loans are no longer available to new graduate and professional student borrowers. Under the new rules, graduate students generally face an annual federal Direct Unsubsidized Loan limit of $20,500, while eligible professional students may qualify for a higher limit. Certain borrowers who meet the transition requirements may qualify for exceptions. The U.S. Department of Education’s guidance on new federal student loan limits provides additional details.
These changes make early funding planning especially important. Understanding available VA education benefits, institutional financial aid, and potential Yellow Ribbon assistance can help students assess their resources before deciding how to cover remaining education expenses.
An Opportunity for Credit Unions to Support Military-Connected Members
Credit unions can play a valuable role by providing resources that help members understand their benefits and evaluate their education funding needs. Starting with available benefits before considering additional borrowing can encourage more informed financial decisions and strengthen member relationships.
The LendKey Veterans Education Benefits Calculator gives credit unions a practical resource to support veterans, service members, and military-connected families as they plan for education expenses.
By helping members assess their education funding situation, the calculator can support conversations about available benefits, potential funding gaps, and financing options when appropriate.
For credit unions, this is an opportunity to demonstrate meaningful support for the military community while helping members prepare for education costs with greater clarity.
Help your members plan for what’s next.
Visit the Veterans Education Benefits Calculator to see how this resource can support your institution’s outreach to military-connected members.