- Joined
- Sep 28, 2015
- Messages
- 3,185
- Reaction score
- 3,971
Hey guys,
I have been approved for Voc Rehab to pay for my medical school and have a question. Does anyone have any experience trying to take out student loans IN ADDITION to using Voc Rehab?
I'll be attending medical school in Washington DC which is extremely expensive. I'm concerned that the BAH payment won't be enough for me to live off of and am interested in taking out $15K a year of loans to offset the cost of living. I can only receive federal loans for the difference of the Cost of Attendance (COA) and what the VA is paying with Voc Rehab. The problem is that the COA for the school is ~$84,000 ($60,250 for tuition + $18,090 for living expenses + everything else = $84,091.50). I will receive 9 months of BAH at $2,312.00 = $20,808 + 60,250 for tuition = $81,058. If this is how the school calculates my eligibility for loans, I can only take out ~$84,000 - ~$81,000 = $3,000. I need more than that to support my family. Given that Voc Rehab disperses tuition payments directly to the university and BAH payments directly to the student, will the university only use the tuition compensation in their calculation? That would be ~$84,000 COA - $60,250 tuition reimbursement = $23,750 optional for Federal Loans. I hope someone can answer this! Thank you!
Did you have to get the regional director to sign off for the tuition amount? I've basically been told that anything over 50k annually has to be approved by the regional director and that they will basically only approve it if there is a compelling reason (for example it is the only school you got into). Thus I've pretty much ruled out applying to a lot of OOS schools b/c I don't want to fight with the region VR&E officer over why I would be better off at school X vs school Y.