Despite crushing student loans that plague most students long after graduation, there are various ways to handle student debt. All that’s required is a little imagination, a bit of research and the willingness to fill out a lot of paperwork (which should be a snap for officers).
Many law enforcement agencies require at least some college credits in order to be hired, and a degree is often necessary in order to achieve higher rank. The cost of a college education keeps rising, and many graduates leave school carrying the anvil of student loans on their backs. Compounding the education challenge is the fact that many working law enforcement officers have limited time to spend in a traditional classroom. Those assigned to shift work or who put in a lot of overtime hours can still earn a college degree in a reasonable period of time. Some methods for getting a degree while avoiding crushing student debt are well known, but a few are the best-kept secrets in higher education.
Getting funded
Under the Montgomery GI Bill or the Post-9/11 GI Bill, veterans, reservists, National Guard members, and dependents are eligible for varying amounts of money to help with education and training costs. Over $60,000 per person in cash and numerous support programs is available, and some recipients are also eligible for a monthly housing allowance. Working LEOs whose classes are paid for by the GI Bill and who qualify for an additional allowance would be wise to set aside those funds to be used for further education, rather than considering them a temporary pay raise.
Non-veterans also have options available to pay for their education. Grants and scholarships are other sources of free money, or money that is provided for educational purposes that does not have to be paid back.
A Federal Pell Grant can be awarded for undergraduate study for up to $5,775 for the 2015-16 academic year. The amount that each student is eligible for is determined by financial need as reflected on the Free Application for Federal Student Aid (FAFSA), which is the form students must fill out when applying for government grants or loans. The formula takes into account the student’s expected family contribution, tuition fees, whether the student attends full-time or part-time, and whether the student attends for a full academic year or less. College financial aid offices are a wealth of knowledge about federal funding programs and are generally very helpful in navigating the maze of forms that have to be filled out.
Organizations and associations
Scholarships are another way that all or part of a college education can be funded. Some scholarships are available through the university itself, while others are offered by organizations through foundations—their charitable giving arms. The ASIS Foundation, for example, is the part of the private security organization ASIS International that provides scholarships. The current offerings include six full-tuition scholarships for either an undergraduate or a master’s degree from the College of Criminal Justice and Security at the University of Phoenix, and two full-tuition scholarships for a graduate degree at Webster University. Local ASIS chapters also offer scholarships for varying amounts to students attending college in their local areas. In addition, the Foundation administers an annual Student Writing Competition for an academic paper in both graduate and undergraduate categories, with prizes of $1,500 and $1,000 respectively, and two Honorable Mention awards of $500 each.
The Fraternal Order of Police is another organization that provides financial assistance in the form of education tuition reimbursement to members who attend one of a handful of colleges that are affiliated with the National Fraternal Order of Police University (NFOPU). Members are eligible for up to $500 as long as their employer does not pay their tuition, and provided they pass with a grade of C or better. Local law enforcement unions or membership organizations may also offer scholarships. Members would do well to investigate the educational benefits that are available from their organizations.
Other scholarships come from national and regional criminal justice associations. In addition, organizations that want to enhance opportunities in the criminal justice field for their members also make monetary awards available. Women in Federal Law Enforcement, for example, makes scholarship monies available to non-member criminal justice majors, but they also offer an annual scholarship to a WIFLE member or member-sponsored applicant.
The Islamic Scholarship Fund (ISF) states that its “mission is to improve understanding and acceptance of Islam by increasing Muslim American representation in professions that influence public policy and opinion.” The ISF provides scholarships to criminal justice majors.
The Out To Protect scholarship is awarded to individuals who identify as gay, lesbian, bisexual or transgender and who attend a basic law enforcement training program, including police, sheriff, corrections or 911 dispatcher academy, whether the education is self-funded or paid for by a hiring department. OTP recognizes “the courage required to ‘come out’ and to be ‘out’ on the job as a law enforcement professional. Our scholarships reward those individuals who have the courage and the willingness to be visible role models in law enforcement.”
Student loan repayment
If there are educational costs that still need to be covered after grants and scholarships are applied, most students turn to loans. Not all educational loans are created equal, however. Loans that are provided through the federal government are always the best choice in terms of favorable interest rates and repayment options. Just as a savvy consumer looks at the fine print on credit cards before signing up, private loans should be scrutinized carefully before borrowing, as interest rates, repayment terms and deferment and forbearance requirements tend not to be so favorable.
With any type of student loan, the college financial aid office uses the FAFSA to help students determine which loans are available. Federal loans that are grouped under the William D. Ford Federal Direct Loan Program include Stafford/Ford (Direct Subsidized) Loans; Unsubsidized Stafford/Ford Loans; Direct PLUS Loans (for graduate students); Direct Consolidation Loans; and Perkins Loans (for low-income students).
With all the emphasis on the crushing debt that most graduates carry, loans don’t seem that appealing, but sometimes they are necessary. The really good news about federal loans is that law enforcement officers may not have to pay back all the money borrowed for education.
Under the Public Service Loan Forgiveness program, full-time police and correction officers working at a qualified agency can have their loans forgiven after making 120 on-time payments. That means that after the first 10 years of payments, any amount left on the loan does not have to be paid back. Loans that qualify for this program are federal Direct Loans or Direct Consolidation Loans. Qualified LEOs who have Perkins Loans can also have those loans discharged. It is worthwhile for every LEO with loans to determine whether loan forgiveness is an option. According to the Consumer Financial Protection Bureau, approximately a quarter of workers in the U.S. qualify for Public Service Loan Forgiveness, yet fail to take advantage of it.
As with any loan, if disability or hardship arises that make it difficult to make any or all loan payments, there are ways that the loan provider can work with the borrower. A deferment or forbearance allows the borrower to temporarily postpone or reduce loan payments. Applications have to be made to the loan service providers, who can provide information about eligibility.
Ten years may seem like a long time to pay student loans before forgiveness kicks in. Instead of making the payments personally, wouldn’t it be great to have someone else do it? Uncle Sam can step in here. The Federal Student Loan Repayment Program is a carrot that federal agencies dangle to recruit great employees.
The program allows agencies to make up to $10,000 a year in loan payments on behalf of an employee, up to a total of $60,000. In return, the employee agrees to work there for three years.
While any federal agency could offer loan repayment, the Departments of Defense, Justice and State use the majority of the available funds, and the Securities and Exchange Commission, Nuclear Regulatory Commission, and Departments of the Treasury and Labor also offer the program. Loan repayment is made for employees in a variety of jobs, but these agencies offer it to a number of employees with the titles Police Officer, Criminal Investigator, and Security Specialist.
If loans are utilized to pay part of the tuition costs, it’s nice to know that even if the educational costs are high, the loans only have to be paid for ten years before the balance of the loan is wiped out. And many federal, state and local agencies will assist with education costs through tuition reimbursement or loan repayment on behalf of the student. Veterans benefits, scholarships and increased pay for officers with degrees can help finance an education, too. Anyone willing to put in some time and effort can find resources for attaining higher education.
Liz Martinez is an award-winning educator who has taught college criminal justice and security management courses since 2002. She is a former NY State investigator and the author of the book "The Retail Manager's Guide to Crime and Loss Prevention." She is an expert witness in the area of retail security, with a specialization in organized retail crime. She can be reached via www.linkedIn.com/in/LizCMartinez.
