I am funding my Graduate degree via a Federal Student Loan because I transferred the majority of what was left of my Post 911 GI Bill to my wife after I completed my BA so that she could follow her dream and get her BA as well. When I say most I mean I transferred 24 months to her and kept what was left beyond which equals to 4 months and 21 days. I will be starting my second semester/term in my Masters program in a few weeks and want to get the ball rolling to be setup to cover my 3rd and 4th term with my post 911 GI bill if I can (that 4 months and 21 days will be enough to adequately cover both terms). Now, what I am trying to find out (and sadly will have to wait a while to find out from the VA due to what their computer system calls larger than normal call volumes), is what happens with my loan money during the terms I use my GI Bill to pay for? Does it still get sent to me or do I void that amount from the overall loan thereby lowering what my principal will be? I have yet to be able to find out this answer online so I figured I would ask her.