The Yellow Ribbon Program is a provision of the Post-9/11GI Billthat allows veterans to attend a private school for little or no out-of-pocket money. Normally, Post-9/11 GI Bill payments at private schools are limited by law to a national maximum amount. Although that amount changes every year, it seldom covers the full tuition and fees that private schools charge for enrollment.
Currently, the maximum amount for the 2019-2020 academic year is $24,476.79. The academic year lasts from Aug. 1 to July 31, 2020.
Normally, private schools are more expensive than public schools, but schools that participate in the Yellow Ribbon Program agree to waive a portion of their tuition. The VA then matches the waived amount, which allows a veteran to attend a private school at little or no personal cost.
For example: You attend a private university with a tuition of $45,000 a year. The school is participating in the Yellow Ribbon Program and agrees to waive $10,000 in tuition costs for veterans. The VA matches that $10,000 waiver, making the total tuition waived $20,000. Your Post-9/11 GI Bill will pay the legally mandated maximum of $24,476.79, and the Yellow Ribbon Program will waive $20,000. You will be responsible for tuition of $523.21 that you must pay with financial aid or out-of-pocket.