Credit Unions Can Do More to Serve Their Military Communities. Here’s Your First Step.

See how your credit union can help veterans and service members navigate their education benefits to avoid unnecessary student debt.

While Veterans Day is a timely reminder of how important it is to honor our military communities, for the credit union system, serving the members who serve our country is always top of mind.

With 180 defense credit unions serving 40 million members, and many other credit unions also serving large military populations, credit unions play a vital role in supporting the unique financial needs of our veterans and service members.

And perhaps the most impactful way to support military families is by helping them navigate their earned benefits – specifically education benefits such as the GI Bill, the Yellow Ribbon Program, and state-level tuition assistance.

Veterans are going into debt unnecessarily

Over half of service members note that the educational benefits were the main reason they joined the armed services. Yet LendKey’s own research has found that a significant percentage of veterans don’t take full advantage of their earned education benefits – often because of a simple lack of understanding of what’s available to them:

• 76% of veteran students don’t know what their education benefits are before enrolling in an education program.
• Across those surveyed, we found an average of $30,000 in unclaimed benefits per eligible veteran.
• 1 in 3 veterans took on student debt when they didn’t need to, because they didn’t know about Yellow Ribbon funding.

The timing is more important than ever

Education benefits for veterans are substantial and have recently increased. Post-9/11 GI Bill rates rose 3.3% on August 1, with the private-school tuition cap climbing to about $30,900 for the 2026-27 year. Plus, additional benefits offer further support, such as up to $1,000 annually for books and supplies.

Keep in mind that these increases to veteran education benefits are against the backdrop of new limitations to wider federal student loan programs through the Big Beautiful Bill. Starting in July of 2026, some federal student loan programs have been eliminated while others have new borrowing limits. This fall semester is the first time students are navigating these new changes to federal programs, and student veterans who want to use financial aid will be feeling the confusion and funding gaps right now too.

So how much debt are we talking about? Pew’s 2026 survey of post-9/11 veterans found that 21% of student veterans borrowed after leaving the military, averaging about $22,600, even with access to the Post-9/11 GI Bill. Those pursuing master’s degrees or higher averaged nearly $34,700.

Why focus on your military members

Supporting veterans is the right thing to do – and it’s also smart business.

The average age to enroll in the armed services is between 25 to 29 years old. Guiding veterans and service members through something as stressful and confusing as paying for school not only helps credit unions build relationships with younger members, it also gives credit unions a chance to help people who deserve our support and respect.

Student debt takes a toll on veterans’ ability to transition into the next stage of their lives. Pew found that two out of three veterans who borrowed reported financial stress from their loans, and 20% described that stress as constant or overwhelming.

What better way for credit unions to live up to their mission than to help these military communities improve their financial lives while achieving their educational goals?

How your credit union can help

LendKey’s Veteran Education Benefits Calculator is a self-service tool you can give directly to your members that helps calculate GI Bill, Yellow Ribbon, and tuition-assistance options at their school. It’s easy to use, free and confidential – no login or personal data required.

Try out the calculator and share it with your members. It’s a simple way to help service members see at a glance what benefits they qualify for, before they take out any student loans.

Want to do more? Talk to LendKey about embedding our calculator directly on your website to help your military members get the benefits they’ve earned.