Were you at all surprised by the President's recent choice to overhaul the VA System? Military officers know a lot about the needs of servicemembers and how the government operates and have been well trained in leadership and the value of team. However, when it comes to running a multi-billion dollar enterprise, they just can't speak the language. The VA system has a $55 billion budget with more than 1400 facilities to oversee, and over 8.3 million services provided each year. They need executives with more than good leadership skills. They need MBA grads, who are educated to understand the various stakeholders who interact internally and externally with the business model and their impact on its outcome.
Given the need, I often wondered why the government does not encourage more servicemembers and veterans to apply to business school to run their enterprises. As recent as 2012, servicemembers and veterans accounted for only about 4% of full time, traditional MBA students. Military training provides excellent leadership training, sound ethical grounding and battle-field strategy, all highly desirable traits for an admissions officer.
So where are the applicants?
As one former officer told to me, "...before I started graduate school, I would attend meetings and did not care to discuss budgets and finance. I just wanted to know why they could not buy the new equipment I wanted for my squad". To participate, one has to be engaged, in order to engage, you have to be able to communicate at the same level as your peers. An MBA provides the skills to enable you to present your request with an objective and thoughtful analysis for the equipment needed.
Recently, I asked a former officer and MBA candidate why more servicemembers and veterans don't apply to business school. He responded that he thought it was, in part, due to the lack of knowledge of what a business degree can do for one's career, and concern about the costs. The good news is that the education and communication of the benefits are now more widely disseminated.
There are also many ways a servicemember or veteran can finance their undergraduate or graduate education. The government, states and universities have made it financially easy to attend graduate school by offering a number of tuition assistance, scholarships, and financial aid programs to support furthering education. The post-9/11 GI Bill provides funding for anyone who served in the military after September 11, 2001. For a list of other programs and what they provide, check out FinAid.com or Military.com. Some plans, such as the Yellow Ribbon program, a collaborative program between the university and the VA, are administered jointly. In addition, states may have additional resources, so be sure to check out what your state offers. You will be surprised how much support there is available. You just need to inquire.
We covered the finances above, so what is keeping you from exploring your options? There are many fine business schools that offer a variety of areas of interest. The perspectives you will bring to the class will be invaluable. In addition, you will become part of a community that will support you throughout your career and provide new areas of opportunity, and the financial rewards will be great. Who knows - maybe one day the President will ask you to run one of the multibillion dollar government agencies because of the MBA you acquired!
If you have any other questions about financial aid and scholarships available for veterans applying for an MBA, InGenius Prep is happy to help answer them.
Business School Financial Aid for Veterans
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