Yellow Ribbon Program, question about it for vets

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
Generic20101L
Posts: 180
Joined: Thu Oct 22, 2009 4:00 pm

Yellow Ribbon Program, question about it for vets

Postby Generic20101L » Wed Apr 07, 2010 2:16 pm

I used the new GI Bill calculator and for school x it said it would pay 22,000 for tuition and fees even though the school is 30k plus. Does the yellow ribbon pay the difference even if they're giving me over 30kplus including living allowance, book stipend, etc...

TIA

CyLaw
Posts: 1557
Joined: Thu Jul 17, 2008 1:59 pm

Re: Yellow Ribbon Program, question about it for vets

Postby CyLaw » Wed Apr 07, 2010 4:41 pm

Generic20101L wrote:I used the new GI Bill calculator and for school x it said it would pay 22,000 for tuition and fees even though the school is 30k plus. Does the yellow ribbon pay the difference even if they're giving me over 30kplus including living allowance, book stipend, etc...

TIA


Depends on the school. On the va site there is a page that details how much the yellow ribbon at each school is. Some are to make up the difference. Others are only like $1000 dollars.

Bruslance
Posts: 11
Joined: Thu Dec 10, 2009 6:21 pm

Re: Yellow Ribbon Program, question about it for vets

Postby Bruslance » Wed Apr 07, 2010 4:53 pm

Generic20101L wrote:I used the new GI Bill calculator and for school x it said it would pay 22,000 for tuition and fees even though the school is 30k plus. Does the yellow ribbon pay the difference even if they're giving me over 30kplus including living allowance, book stipend, etc...

TIA


The yellow ribbon pays the schools amount and a matching amount from the government. So if the school has a $5,000 yellow ribbon program, then after the government's share it would be $10,000.

The amount depends really on the school and how much they are willing to pay for you, since the government will only match their contribution. This depends of course if they offer the program, and if the school offers X amount of yellow ribbon funds if you get one of the slots...

I'd suggest you contact the school and find out. It can be a race to get into that program.

ArmyVet07
Posts: 76
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Re: Yellow Ribbon Program, question about it for vets

Postby ArmyVet07 » Wed Apr 07, 2010 6:46 pm

Also look for how many students are offered the Yellow Ribbon Program. Some schools may offer huge amounts but then limit the number of vets they give the money to. Others offer smaller amounts but give them to all eligible vets. When the number of students receiving awards is limited, it's always decided on a first come, first served basis.

Generic20101L
Posts: 180
Joined: Thu Oct 22, 2009 4:00 pm

Re: Yellow Ribbon Program, question about it for vets

Postby Generic20101L » Wed Apr 07, 2010 11:17 pm

I guess I phrased the question weirdly.

If there is a gap in what the GI BIll is paying for tuition and what tuition costs, does the Yellow Ribbon Program apply to that only or does the Yellow Ribbon program apply to the difference in what the GI Bill gives me for everything (tuition, books, room and board) and what it costs to go to school there?

Does that make more sense?

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MURPH
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Re: Yellow Ribbon Program, question about it for vets

Postby MURPH » Sun Apr 11, 2010 12:51 am

My understanding is 'it depends on the school'. The Yellow ribbon will pay a maximum of the difference between the GI Bill and the tuition. You are asking if your scholarship should count against this. The answer is it is not supposed to. In theory (and by law) you should be applying for the vet benefits separately from your financial aid application. One should not count against the other.

But schools are not stupid. The applications are run through the same office, usually with one person from the admissions/financial aid office doing VA stuff. My experience has been that the max contributions from GI Bill, Yellow Ribbon and scholarships magically add up to full tuition and do not go over that amount. I have heard of someone who negotiated more and pocketed the scholarship money but that seems to be rare.

The part of the GI Bill money that is your monthly allowance (E-5 with dependents pay) is above and beyond the tuition. So for example, I got into UCLA with GI BIll and very likely with Yellow Ribbon (I was the first to submit my paperwork, according to the school). That will cover all of my tuition. I will also get almost $2,000 per month housing allowance, $1000 per semester for books, money to take the board, tutoring money, etc.

Anyway, that is my understanding. I am struggling through this too but I hope that helps answer your question.

CyLaw
Posts: 1557
Joined: Thu Jul 17, 2008 1:59 pm

Re: Yellow Ribbon Program, question about it for vets

Postby CyLaw » Sun Apr 11, 2010 12:19 pm

MURPH wrote:My understanding is 'it depends on the school'. The Yellow ribbon will pay a maximum of the difference between the GI Bill and the tuition. You are asking if your scholarship should count against this. The answer is it is not supposed to. In theory (and by law) you should be applying for the vet benefits separately from your financial aid application. One should not count against the other.

But schools are not stupid. The applications are run through the same office, usually with one person from the admissions/financial aid office doing VA stuff. My experience has been that the max contributions from GI Bill, Yellow Ribbon and scholarships magically add up to full tuition and do not go over that amount. I have heard of someone who negotiated more and pocketed the scholarship money but that seems to be rare.

The part of the GI Bill money that is your monthly allowance (E-5 with dependents pay) is above and beyond the tuition. So for example, I got into UCLA with GI BIll and very likely with Yellow Ribbon (I was the first to submit my paperwork, according to the school). That will cover all of my tuition. I will also get almost $2,000 per month housing allowance, $1000 per semester for books, money to take the board, tutoring money, etc.

Anyway, that is my understanding. I am struggling through this too but I hope that helps answer your question.


Great answer. Just wanted to add that schools are allowed and I believe encourged by the VA to use the normally awarded merit/need aid to count as the school's contribution into Yellow Ribbon (if it is enough to cover their half of Yellow Ribbon). The two schools I have dealt with regarding yellow ribbon both did this.




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