mbanimal2011
•Currently the Post-9/11 GI Bill pays up to the highest public in-state undergraduate tuition and fees.
•Effective August 1, 2011 the Post-9/11 GI Bill will pay all pay:
◦all public school in-state tuition and fees or
◦up to $17,500 annually for a private school.
Am I reading this right? Grad school (MBA) will be completely covered for in-state students at a public school? I can't get a straight answer from my current school's VA or grad school's VA.
What if I am granted in-state tuition and a scholarship (I have 100% and 2 years remaining), will I get the extra money or does it go back to good old Uncle Sam? I can't get answers from anyone who is supposed to have them, any insight would be helpful.
mbaanimal,
Looking through the GI Bill info online, it seems the answer is YES, starting August 1st, all public school students will be covered for ALL in-state tuition and fees. You should NOT get compensated directly for excess GI bill money. GI bill money goes straight to the school and the final 'bill' you get is the amount after the GI bill contribution is made.
Example: your school tuition is $18.5k and the GI bill capt is $17.5k, the registrar's office will simply charge you a bill of $1k, it's not like you get that $17.5k in your bank account like a paycheck and then you turn around and pay the school.
A few landmines- key word is 'IN-STATE TUITION'- not all military members are considered in-state students for all public schools, so if you are an OUT-of-state student and your school charges you say 10$k and the IN-state rate is only 5k$ then it sounds like you are on your own for the remaining $5k.
Also keep in mind the govt is the 'last payer'- if you have scholarships that are only to be used for tuition, in the above example your $18.5k school offers you a scholarship to be used only for tuition of $5k, that leaves you with a balance of $13.5k which now the GI bill will pay the $13.5k of. You would NOT receive the 'excess' $4k that your scholarship generated.
Keep in mind though, not ALL scholarships are tuition only- some are a direct compensation to you in cash form.
So to answer your question, it DEPENDS on the terms of the scholarship that the school provided you- read the fine print or ask the financial aid office.
What IS a direct deposit to you is the BAH provided by the GI bill. As long as you are carrying the minimum 'load' of courses, the GI bill WILL give you the entire BAH for that school zip code, and it is up to you how to spend it!
Second, another interesting line I found was: "Students can be reimbursed for more than one "licensing and certification" test, and can also be reimbursed for fees paid to take national exams used for admission to an institution of higher learning such as the SAT, ACT, GMAT, LSAT, eta. (effective August 1,2011)." Would have been nice considering the 500$+ i spent on multiple GMATS and reschedules due to military commitments.