Ex Cearulo wrote:BNA wrote:All,
Interesting news regarding scholarship reclassification. The school I'll be attending offered me $15k, but said that I needed to find out how to have it paid on top of the GIB. I called the VA, and after a long discussion, found out that the VA pays exactly what the school submits. In other words, EVERY school can convert scholarships. All they have to do is apply it after information has been sent to the VA and it will go into your account as an excess. There really is no need to reclassify it as "cost of living," or otherwise, for VA purposes. A simple annotation on your student account naming it something other than a tuition scholarship would be preferable. Any university that says they can't probably just isn't aware of the procedure, or doesn't want to deal with it. Keep this in mind when negotiating.
So if I understand what you're saying, according to the VA it's simply a matter of having the school submit the bill to the VA and then, after that's paid, apply whatever school scholarship money is available? I'd think the VA's policy of being the last payer would cause them to frown on that. But unless the school is required by law to let the VA know what scholarships it has awarded (are they?), I guess there's no way for them to keep track. And if the school automatically deposits any overages into your bank account on file then you'd be good to go. Does anyone else have any experience with getting scholarship money applied after the VA has paid? Thanks for sharing this, BNA.
I considered the same thing. It seems like this avenue is sidestepping the VA, and puts either myself or the school at risk. I asked several times, and the lady consistently affirmed that the school is allowed to pay after the request for funding is sent. Also something to keep in mind - we're dealing with a government agency. Every one of us knows what comes of that. I'd advise everyone to do their own research, but thought some out there would like to hear some good news.