GI Bill Question. Help please!

[BamaSlamma]

---

Members don't see this ad.

I'm hoping someone here can help me decipher my GI bill here. I asked both the Veterans Office and the Financial Aid office, and they were both infuriatingly intentionally vague and didn't really tell me anything. I am Eligible for 100% of my GI Bill, and the yellow ribbon program. I am a GA resident but will be attending a school in AL.
Tuition and fees are as follows:

Tuition In State: $4,600.00
Tuition OOS: $11,475.00
College/Course Fees IS & OOS: $375.00


Seems simple enough, I think that my GI bill will pay for $4600 + $375 in fees, and the school and the VA will split the $6875 difference down the middle via the Yellow Ribbon program, and call it a day.

Where I get confused though, is on my financial aid package. Among other things that I won't be taking, I WAS considering taking the offer of $1750/semester of subsidized loans for the first semester to help with living expenses so I wouldn't need a job (0 Dependents/no debt) so I could focus on transitioning smoothly back to civilian life, and establish a high freshman GPA.

But where does that subsidized loan fall in the order of paying the student account? I want to take it to cover living expenses, but if it gets applied to the student account before the GI Bill/yellow ribbon program, then that's not really helping me, and is actually lowering the value of my benefits while shouldering extra costs onto myself.

The following year I will be eligible for a pell grant, and would like to do the same thing with it.

 

[jayoh]

The loans won't affect the GI bill payment to your school. Assuming you've jumped through the proper hoops to enroll in the GI bill and yellow ribbon program, the VA will pay your school your exact tuition/fee charges. It may happen that your loans will show on your student account as going towards your tuition, but the VA will pay in full and you will ultimately be refunded the amount of your loan.

 

[jayoh]

I should add that you can go ahead and expect the VA to pay the school well after the tuition deadlines and normal financial aid refund dates. Especially when you initially enroll. Your school may or may not disburse your loan to you until the VA submits payment.

 

[NowEarThis]

I take out student loans to cover my tuition until my GI Bill hits. Last semester the VA paid my school (10 weeks after I submitted my paperwork) the exact day I would have been kicked out for tuition not being paid so I take the loan to cover my you know what.

For my school, my loan pays my tuition first and later on the VA pays the school. Once the VA pays the school, they contact me to pick up a refund check and that's when I have cash in my lenders pocket.

 

[Kilgoretrout 65]

Living expenses? They give you BAH. My daughter (I transferred my benefit) gets ~$1300 a month living expenses prorated to the actual days of school. That should be enough for rent and food in Alabama. Her school also waits for the tuition to come from the VA, but I have to pay the room and board in the dorm upfront.

 

[BamaSlamma]

the $1100 BAH also has to cover my rent, food and utilities. Once its all said and done (Car insurance, gas, phone bill, credit card payment [not much but there is some]) I'm either barely scarping by or in the red on my monthly budget. I didn't do so well the first go-round at college, and was planning on not working my first semester, so I can settle in and keep my eye on the ball.

Also of note, my younger brother will be a freshman at a different school at the same time. There simply isn't money in my parents budget to help me. Every penny will be coming from either me, my gi bill, or loans. (Not that I blame them, I had my chance on mom & pop's dollar, and screwed it up.)

 

[jayoh]

You don't have to worry about taking out loans to cover tuition until the GI bill hits... the VA almost always pays after the tuition deadlines, but if you're covered by the GI bill your school won't drop you from your classes. That's something your VA rep should handle.

I don't know what school you're going to OP, but if they have a meal plan offered to students, you should ask the VA rep about getting the VA to pay for your meal plan. When I transferred to my current school (to my surprise) the VA paid for my tuition and fees, parking fees, and a 128 meal-plan.

 

[NowEarThis]

You don't have to worry about taking out loans to cover tuition until the GI bill hits... the VA almost always pays after the tuition deadlines, but if you're covered by the GI bill your school won't drop you from your classes. That's something your VA rep should handle.

Sadly, not all schools are veteran friendly. We are working to get my tuition waived until the VA pays the school but knowing my school, the ball will get dropped somewhere.

 

[jayoh]

That is a shame... I would hate to deal with getting the GI bill without the help of a VA rep who at least has some experience dealing with the VA.

I should have clarified, I was directing my post to the OP saying that he doesn't have to worry about taking out loans to avoid being dropped for tuition nonpayment... but I guess that is assuming his school has some experience dealing with the GI bill.

 

[BamaSlamma]

Alabama seems very veteran friendly, at least from the outside. No cap to users/funds for Yellow ribbon, a fairly comprehensive veterans services office.

I'll have to look into getting them to fork out for the meal plan. Would make life a lot easier (even though i still wouldn't eat on campus for dinner. Probably for breakfast and lunch though.)

 

[Kilgoretrout 65]

Giving budget advice to an adult is probably not indicated but i recommend studious roommate(s) to help with rent and utilities, a bicycle, and PB&J. Unless really strapped for time or if the Bama cooks are really good it seems like meal plans are a waste.