Penn expands its Yellow Ribbon program for veterans and their beneficiaries

All of Penn’s 12 schools participate in the Yellow Ribbon Program, a voluntary matching system between private schools and the Department of Veterans Affairs (VA) that bridges the gap between college costs and the Post-9/11 GI Bill benefit set by the VA annually. Schools and programs at Penn offer a designated number of slots for those using the Yellow Ribbon Program and have committed funds for veterans and their beneficiaries, with the VA matching this commitment.

This fall, Penn has expanded its program, now offering both unlimited Yellow Ribbon slots and funding for all eligible undergraduate students, eliminating what was previously an $18,000 shortfall.

Graduate students also benefit from Penn’s Yellow Ribbon Program expansion, with many schools now offering both unlimited Yellow Ribbon slots and funding, including the School of Social Policy & Practice, Penn Carey Law, and the Weitzman School of Design. In addition, the Graduate School of Education increased its Yellow Ribbon contribution from $10,000 to $15,000 per eligible student, and the Wharton School, which offers unlimited Yellow Ribbon slots, increased their contribution from $20,000 to $23,000 per eligible student.

The Yellow Ribbon Program expansion is “a game changer,” for undergraduate students says Lynn Manuel, associate director of Veteran and Military Engagement at Penn. “It’s really big news for students and their families.”

Having these added slots and increased funding “is a way that we can draw those academically competitive students,” Manuel says, especially veterans who are supporting families and looking to pursue education without incurring debt.

Around 150 students currently participate in Penn’s Yellow Ribbon Program, Manuel says. Most are graduate student veterans, including Dan Swensen, a first-year MBA student at the Wharton School.

Swensen served in the enlisted ranks as a Pararescue Specialist in the United States Air Force Special Warfare team, part of a group that rescues and provides emergency medical care for military personnel across the globe.

“You’re there as the last line of defense for someone on the worst day of their life,” says Swensen, who was wounded in 2019 and earned a Silver Star in Afghanistan for grace under fire.

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Transitioning out of the military can be hard, Swensen says, especially for soldiers whose roles don’t have a direct corollary to civilian life. “It’s a difficult task,” he says, “to one day, be at the unit and to one day, sign out.”

To Swensen, an MBA offers an opportunity for a second career. “I just think it’s the best way to give yourself runway, gain the knowledge, gain the experience, gain the network, and gain the access in order to get the job, or the career, or the life that you want after the military,” he says. “I’m doing my best to get the word out to the enlisted community, because it’s not a very traditional path for enlisted folks.”

Swensen notes that while the Post-9/11 GI Bill is substantial, it has limitations. Without it, attending a top MBA program could be out of reach for veterans. While the armed services have benefits, “it’s not a high-paying job,” he says.

On top of the financial impact, the Yellow Ribbon Program also attracts a more diverse range of students to universities, Swensen says. The Yellow Ribbon Program signals to veterans “that we value your service, we value the commitment to this nation,” he says, “and we’re going to support you however we can.”