Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
kilgoretrout
Posts: 10
Joined: Fri Mar 21, 2008 5:48 am

Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby kilgoretrout » Fri Jun 20, 2008 2:51 am

I know that there are a couple of other veterans out there, and I'm wondering if anyone is planning on using it. HR5740 passed the house yesterday, and President Bush has finally endorsed the program due to the inclusion of a transferability clause.

In brief, full benefits are E-5 BAH (with dependents) and state tuition payments for a total of 36 academic months. The E-5 BAH can range from around 1k to 2.5k. The state tuition payments are the amount of a years tuition at the most expensive in-state school rate divided by 9. This should be around 1k/month for most states. The benefits are prorated due to length of service. 3 months will get you 40%, 12 months 60%, 24 months 80%, 36 months 100%.

For law school, over three years the total value of this would be:
UVA: 61,344 (assuming 1k tuition and BAH of 1272)
NYU: 92,988 (assuming 1k tuition and BAH of 2444)
Harvard: 76,329 (assuming 1k tuition and BAH of 1827)

The BAH stipend is mailed directly to you, the tuition payments are mailed to your school. If you were considering a JD/MBA, there really is no reason not to as you would still have another 9 months of benefits left over after the three years of law school.

Another potentially great program is the Yellow Ribbon Program, in case you attend a private school whose tuition exceeds the state tuition offered, the federal government and the university can come to an agreement to split the remainder. I am curious to see which schools will participate in this, especially law schools. The Yellow Ribbon Program is only available to service members who have served 36 months.

I already had my undergraduate education paid for by the United States Government, so it appears that I will not begin to accumulate the service time required for the benefits until my initial contract expires next May. This applies to all ROTC/Service Academy graduates, who previously were ineligible for the program. I already extended another year and will most likely do either two or three years depending on whether potential law schools participate in the Yellow Ribbon Program.

User avatar
aleph209
Posts: 60
Joined: Thu Dec 20, 2007 4:02 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby aleph209 » Fri Jun 20, 2008 3:15 am

kilgoretrout wrote:President Bush has finally endorsed the program because he got his war money and the politics looked bad for John McCain.


Corrected your post.

AF_NCO_27
Posts: 2
Joined: Tue Jun 17, 2008 7:00 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby AF_NCO_27 » Sun Jun 22, 2008 7:59 pm

The Bill still does nothing to correct one of the biggest injustices to the GI Bill Fiasco - "the one and done" option.

New enlisted members to the military are initially offered to sign up for GI Bill benefits sometime during Basic Training. Many troops, supporting families cannot afford the initial $100 monthly deduction and so decline enrollment. But once they do so, they can never ever qualify for benefits. Ever. For others, intimidation (since I remember my session with the TI in the classroom like it was just yesterday) was another factor. I still rate this as one of the worst decisions I ever made.

I wrote both Sen Webb and McCain that a great compromise would be to allow members who initially declined the GI Bill another chance at enrollment. I know I'm not the first person to bring this up since I'm a member of AFSA and I know their lobbyists petition Congress every year to add it to the funding bills. But it never gets done. So let Sen Webb and the supporters of this bill praise it all they want. The truth is almost 16% of the active enlisted force still cannot get any educational benefits whatsoever.

User avatar
zer0luck
Posts: 15
Joined: Tue Feb 26, 2008 1:06 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby zer0luck » Sun Jun 22, 2008 10:45 pm

It looks like you can still qualify for the New GI Bill even if you didn't elect to receive the first one in basic. Also, from this chart it looks like the payment amount = In-state tuiton + 1k (books,etc) + E-5 BAH.

http://education.military.com/money-for-school/gi-bill/new-gi-bill-overview#1

AF_NCO_27
Posts: 2
Joined: Tue Jun 17, 2008 7:00 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby AF_NCO_27 » Sun Jun 22, 2008 11:34 pm

zero0luck,

To say that you have made my day is an understatement! I will most certainly ask about this at the education office next week because I don't believe they've publicized it at all. This rocks!

User avatar
zer0luck
Posts: 15
Joined: Tue Feb 26, 2008 1:06 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby zer0luck » Sun Jun 22, 2008 11:41 pm

No problem. It made my day too when I found out that I acutally qualify for some $$$ (I didnt qualify under the old MGIB). Word of warning though, if you read the fine print, the earliest benefits will start will be 2009.

Does anybody know how in-state tuition will be caculated for students in D.C. since there is no public college?

There probably hasnt been too much publicity about it yet because the Senate still needs to sign it (again) and Bush needs to give his final OK as well.

themoffman
Posts: 7
Joined: Thu Jun 05, 2008 12:03 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby themoffman » Mon Jun 23, 2008 12:03 am

This would make my year if it really goes through, and actually allow me to attend the best possible school I'm admitted to with much less fear of massive debt, all for it!

User avatar
aleph209
Posts: 60
Joined: Thu Dec 20, 2007 4:02 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby aleph209 » Mon Jun 23, 2008 2:40 am

i'm glad this looks like its working out for y'all. congrats. and thanks for your service to our country.

avarnim
Posts: 1
Joined: Sun May 25, 2008 7:02 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby avarnim » Mon Jun 23, 2008 9:05 am

Zer0luck,

DC does have an "in-state" school, the University of the District of Columbia (UDC). It's a commuter school and looks like a decent, if not fantastic, place to be. But I'm hoping in the calculations they add DC to either Maryland or Virginia - preferably Virginia since you'd get the cost of tuition at UVA Law to apply to Georgetown or GW.

User avatar
kilgoretrout
Posts: 10
Joined: Fri Mar 21, 2008 5:48 am

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby kilgoretrout » Mon Jun 23, 2008 9:24 am

avarnim wrote:Zer0luck,

DC does have an "in-state" school, the University of the District of Columbia (UDC). It's a commuter school and looks like a decent, if not fantastic, place to be. But I'm hoping in the calculations they add DC to either Maryland or Virginia - preferably Virginia since you'd get the cost of tuition at UVA Law to apply to Georgetown or GW.


They aren't going to pay the cost of tuition at UVA law, they are going to pay the instate instate tuition rate at UVA undergrad.

rtg1281
Posts: 7
Joined: Fri Jun 13, 2008 10:53 am

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby rtg1281 » Mon Jun 23, 2008 9:36 am

I am confused. Are these benefits seperate from the MGIB or is it just some extension of it. I have used the majority of my MGIB on UG and now you all have me thinking that there is MORE money available to me for law school.

themoffman
Posts: 7
Joined: Thu Jun 05, 2008 12:03 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby themoffman » Mon Jun 23, 2008 9:37 am

aleph209 wrote:i'm glad this looks like its working out for y'all. congrats. and thanks for your service to our country.


Thanks! This is definitely huge, compared the the previous benefit which was around $1000 per month for full time. One of the main reasons I joined was to use the benefit for graduate school, but I was concerned that it wouldn't offset the costs that much

User avatar
kilgoretrout
Posts: 10
Joined: Fri Mar 21, 2008 5:48 am

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby kilgoretrout » Mon Jun 23, 2008 9:51 am

rtg1281 wrote:I am confused. Are these benefits seperate from the MGIB or is it just some extension of it. I have used the majority of my MGIB on UG and now you all have me thinking that there is MORE money available to me for law school.


from gibill2008.org:

Will veterans who have already started using their GI Bill benefits be grandfathered into the new version?

Veterans with any remaining GI bill benefits will be able to transfer them to this new program and receive the higher rate.

User avatar
zer0luck
Posts: 15
Joined: Tue Feb 26, 2008 1:06 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby zer0luck » Tue Jun 24, 2008 12:40 am

Bad news for academy and ROTC grads....no $$$ unless you served beyond your obligated time (3-5 yrs).

User avatar
kilgoretrout
Posts: 10
Joined: Fri Mar 21, 2008 5:48 am

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby kilgoretrout » Tue Jun 24, 2008 2:17 am

zer0luck wrote:Bad news for academy and ROTC grads....no $$$ unless you served beyond your obligated time (3-5 yrs).


yeah but you get 40 percent of the benefits just by serving 90 days after your contract. 90 days, or 60 percent for a year. TBH, although I wish that I could have just taken the money after my initial contract, the Captain pay isn't bad and I just think it would be a little much for us to warrant the GI Bill after our initial contracts. Personally, I think it's a pretty good retention tool for Junior Officers.

User avatar
zer0luck
Posts: 15
Joined: Tue Feb 26, 2008 1:06 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby zer0luck » Tue Jun 24, 2008 10:07 am

It is, but not if you have already gotten out! Considering that an extra 3 years in would mean the GI Bill AND 30K, its not a bad deal at all. Wish I would have known about this earlier.

rtg1281
Posts: 7
Joined: Fri Jun 13, 2008 10:53 am

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby rtg1281 » Tue Jun 24, 2008 10:12 am

Ive been estatic about this since the original post....

-1/2 to 1/3 of tuition paid for
-living stipend equalling ~$1400/month = free rent
-plus a small book stipend

amazing! fingers crossed that this goes through.

as an aside... this will really bolster the military as a whole and change the current trend of either getting bums enlisting or no one at all to a much higher degree of entering soldiers, sailors, and airmen... its good for the military and good for the US as a whole.

User avatar
playhero
Posts: 70
Joined: Mon Nov 19, 2007 6:04 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby playhero » Fri Jul 04, 2008 10:13 pm

Yet another reason I'd like to join the military. If only my mom wouldn't have an immediate heart attack upon my entrance.

Btw this Act is now law. Yay for you all!

http://www.gibill.va.gov/

User avatar
Lyov Myshkin
Posts: 232
Joined: Sat Jun 28, 2008 11:28 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby Lyov Myshkin » Tue Jul 22, 2008 2:24 am

i don't get it. i think i already used my 36 months of entitlement. do i get more?

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

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby CyLaw » Sat Jul 26, 2008 12:03 am

hkfortytwo wrote:i don't get it. i think i already used my 36 months of entitlement. do i get more?


No. But if you have even one day left, can can convert to the new system.

BTW for anyone who did not know this. If you have even one day left of benefit at the start of the term, you get the whole term!!!! My wife has only 23 days left at the start of this fall, and the VA confirmed that she will be paid the old GI Bill for the WHOLE fall semester. I also check the US Code and it is written there in black and white that this is the policy.

Oh, and this policy applies to the new GI Bill also when its payments start up.

flint24
Posts: 1
Joined: Mon Jul 14, 2008 7:17 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby flint24 » Wed Jul 30, 2008 12:00 am

Came in late on this thread, but I have a few questions I hope you vets can help me with...

I pretty much didn't use any of my GI Bill money when I was in because the Air Force paid 100% tuition anyway. So I've got the full 36k, plus the 4k "buy up" left in the "old program."

Now, the new program starts next summer/fall right? I've got a full 6 years in, so that covers me at 100% pro-rated I think. If I go to HYS or one of those with crazy tuition, does the gov't cover ALL the tuition or does it max out like the old "tuition assistance" service plan? For example, if Harvard tuition is $4,000 for a semester of 3 months, and the GI Bill covers covers $1,000 a month, I'll still have to come out of pocket that extra $1,000. Is the new system like this?

What about books? Do I have to pay for that?

If I get a scholorship, can I double dip and use both?

So the housing is pro-rated too, or do they give you only what you need?

Say what you want about the war and the Bush admin, but this is one of the best things to come out of this era. This is pretty much a "thank you" to all the grunts out there who have went down to the desert. We/They can now get out, and go to any college they want on a free ride. Housing and everything. That's awesome. Thanks Uncle Sam...

Anybody else go to UMUC?

User avatar
Lyov Myshkin
Posts: 232
Joined: Sat Jun 28, 2008 11:28 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby Lyov Myshkin » Wed Jul 30, 2008 4:25 am

damn.

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

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby CyLaw » Wed Jul 30, 2008 8:42 am

hkfortytwo wrote:damn.


I think you may be able to convert even with no days left. You would get no education benefit, but you might get the extra $2,000 for certification testing or the extra money for Tutorial Assistance. I am not sure on it, but it is worth trying and asking the Vet Benefits rep at your school.

helfer snooterbagon
Posts: 203
Joined: Sun Sep 09, 2007 10:04 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby helfer snooterbagon » Wed Jul 30, 2008 9:02 am

Under the old system it did not matter if you were getting a scholarship, as long as you were attending 3/4 time or more you got the corresponding amount. Under the new system I am not sure, because the tuition payment will be sent to your school. If the amount sent exceeds your tuition I imagine it will be sent back and you won't see it. For someone like me, with a full scholarship and working full time, I will probably just stay with the old system and pocket the extra $1000 a month. However, I have to check about the BAH, because that would be even more money.

LSATfromNC
Posts: 735
Joined: Sat Oct 04, 2008 3:29 pm

Re: Post 9/11 Veterans Educational Assistance Act(New G.I. Bill)

Postby LSATfromNC » Fri Oct 10, 2008 12:01 pm

sweet, I have 24 months left :)




Return to “Financial Aid”

Who is online

Users browsing this forum: musiclover123 and 1 guest