Post 911 GI Bill and Student Loans?

Discussion in 'Military-related education topics' started by bpreachers, Jul 28, 2012.

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  1. bpreachers

    bpreachers New Member

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    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.
     
  2. airtorn

    airtorn Moderator

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    The loan money will still be sent to you.
     
  3. StefanM

    StefanM New Member

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    For VA benefits, loans really aren't a factor. If you are eligible for the VA benefit, the VA official at your school will certify you, and the VA will make payment.

    For financial aid purposes, your Post 9/11 GI Bill isn't treated as financial assistance, so it doesn't count against your "cost of attendance." (Federal Student Aid Handbook, 2011-2012, p. 3.139).

    If you have loans and 100% GI Bill benefits, your loans will sent directly to you, based on established financial aid refund guidelines.
     

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