Archive for the 'College Funding' Category

Aug 23 2010

Post 9-11 GI Bill: Major Changes in the Works…

Legislation including a host of upgrades and changes to the Post 9-11 GI Bill just passed a key congressional committee.  Major proposed changes include:

  • Giving credit for Title 32 (Full-Time National Guard/Reserve Service) service members back to September 11, 2001.  This will greatly assist these service members in qualifying for a more robust benefit.
  • $1,000 books and supplies stipend for Active Duty service members and their spouses (they are currently inelgible).
  • Addition of vocational training (on-the-job training and apprenticeships) and expanded licensing/certification benefits.
  • Adjustment of the housing allowance to include full-time distance learners (at 50 percent rate) and base the housing allowance on enrollment level.
  • Capping the tuition and fees paid for Active Duty service members and their spouses at $20,000 annually.  This is big potential hit, since these populations currently have no tuition cap (but give up the books and supplies stipend/housing allowance under the Post 9-11 GI Bill).

For full details, see this article in the Military Times.

We will keep you informed on the progress of this legislation.  While we think there is a good chance that much of it will pass this year, there is so much uncertainty/acrimony around any budget issues in Congress that there are no guarantees.

Phil Dyer, CFP®, RLP®. CPCC

  • Share/Bookmark

No responses yet

Jun 28 2010

Post 9-11 GI Bill Livecast on 6/29!

Please join us for a Post 9-11 GI Bill Livecast on 6/29 at 12 Noon Eastern Time…

During this 45-minute live video cast, we will be sharing the latest information on the Post 9-11 GI Bill and giving you key action tips to make the most of this valuable benefit for currently serving service members, retirees and veterans.

Bookmark this link:

Post 9-11 GI Bill Livestream

You will have the opportunity to submit questions live and have those answered during the Q & A portion of the live cast.  Please note that your computer will need the most recent version of Adode Flash for optimum performance, which you can download here.

We hope to see you there!

Phil Dyer, CFP, RLP, CPCC

  • Share/Bookmark

No responses yet

Aug 19 2009

Post 9-11 GI Bill Fix for California Students

The VA announced a fix for the problem of paying for Post 9-11 GI Bill students at California’s private colleges.

The issue was GI Bill payments for both public and private colleges are based on in-state public college tuition rates. CA has no tuition for in-state public colleges and since there is no public college tuition rate on which to base private college payments, there was no private college payments.

See this VA press release for the details.

  • Share/Bookmark

No responses yet

Jul 20 2009

The Post 9-11 GI Bill—All Aboard! Part 2

Sign-up for the Post 9-11 GI Bill here.

Comparing the Post 9-11 GI Bill with the Current Educational Programs.

For those of you with eligibility in the Post 9-11 GI Bill and another form of education benefits (MGIB, MGIB-Res, REAP, VEAP), you will be required to make an irrevocable decision about which benefit you will keep and use at the time you use your educational benefits.

If you are eligible for two or more other education benefits, in addition to the Post 9-11 benefit, you must make an irrevocable decision to give up ONE of the other education benefits. You will remain eligible to use the benefit from the one you did not surrender. Because you are now eligible for two education benefits, you MAY be able to change which education benefit you draw upon depending on your eligibility.

The details regarding which educational programs are covered by the Post 9-11 GI Bill are numerous. It is best if you view this side-by-side comparison chart of all the different education programs when determining whether you may want to convert your current GI Bill benefits over to the new Post 9-11 benefits–VA comparison chart. Remember, conversion to the Post 9-11 program is irrevocable once made.

Key point: The Post 9-11 GI Bill pays the educational facility directly and it only pays Institutions of Higher Learning (IHL). An IHL is defined as a degree granting institution. To pay for education at institutions other than IHLs, you have to use benefits from other GI Bill programs such as the Active Duty GI Bill, Reserve GI Bill, REAP, or VEAP. Certificate and diploma programs offered by institutions that do not grant degrees are not covered.

These case studies provide graphic examples of how the Post 9-11 and Montgomery GI Bills work under different scenarios. You can find case studies for the Post 9-11 and the Reserve GI Bills here.

You are not under a time crunch to make a decision to convert to the Post 9-11 GI Bill from your current GI Bill program. It may pay…so to speak…to wait until closer to the time in which you wish to use your benefits to make a better comparison. There may be a time crunch for you if the transferability option is important to you. See the Transferability section for more information.

The Benefit Transfer Option
The Department of Defense is using the transferability of Post 9-11 GI Bill benefits as a retention tool. This is a key aspect of the program because it may require you to commit to additional service time in order to receive the transfer benefit.

If you are currently serving, register and complete the transfer process for the Post 9-11 GI Bill before you leave the Service, even if you are not sure you want to transfer the benefit to family members some day. Family members not approved for transfer prior to leaving the Service are denied the Post 9-11 GI Bill opportunity forever. Transfer at least one month’s benefit to each family member before you leave the Service to ensure you can transfer more benefits to dependents later.

The military member always retains the authority to change or revoke the transfer of benefits after benefits have been transferred. Transferred educational benefits may not be treated as marital property or as the asset of a marital estate subject to division in a divorce or other civil proceeding by law.

To transfer benefits, you must go to https://www.dmdc.osd.mil/TEBto register on-line.

Check the web site occasionally to see if you are approved. Once approved, family members will apply to the VA for their certificate of eligibility to use their benefits. Contact the school’s VA rep or Financial Aid office to use the benefit.

Veterans who marry, remarry or have more children after leaving the Service are not able to transfer benefits to these new family members.

General rules:
• May transfer benefits at any time while serving as a member of the Armed Forces on or after 1 August 2009.
• You do not have to be serving on Title 10 active duty orders on 1 August 2009 to be eligible.
• The amount of your benefit is based on your active duty service time.
• Have eligibility for the Post 9-11 GI Bill with service since September 11, 2001.
• Public Health Service (PHS) and National Oceanic and Atmospheric Administration (NOAA) officers are not eligible.
• Maximum of 36 months educational benefit.
• If you are barred from serving the additional 4-year commitment due to Service policy or law, you are allowed an exception to the commitment policy.

To Transfer to a Spouse:
• Must have served 6 years with a commitment to 10 years.
• Spouse’s eligibility is good for up to 15 yrs after member’s service.
• Spouses of active duty members cannot receive the housing allowance since they already receive a housing allowance or live on base.
• Spouses of active duty members have enhanced benefits that pay full tuition and fees at any school without costs limitations.
• Divorce does not cancel the transfer however the military member can revoke the transfer at any time.

To Transfer to the Children:
• Able to transfer to children only after 10 years service and agree to 4 more years.
• Eligible until child reaches age 26—no 15 year time limit.
• Housing and books paid while member is active duty unlike spouse benefit.
• The benefit continues even if the child marries.
• Military member retains the authority to revoke the benefit at any time.
• Child must be a graduate of secondary/high school (or equivalent) or be 18 years old.

  • Share/Bookmark

No responses yet

Jul 17 2009

The Post 9-11 GI Bill—All Aboard! Part 1

The implementation date is around the corner, 1 August 2009.

So who qualifies?

• Members who serve or served full-time duty in the Regular components of the Armed Forces or those serving or served under a call/order to active duty (AD) under Title 10 with a few exceptions.
• Currently serving, former and retired members.
• You have min 90 aggregate days of AD service time since 11 Sep 01.
• Members with 30 days service if discharged with service-connected disabilities.
• Honorable discharge.
• Your education benefits start 1 Aug 09 or later.

Whether you participated or not in the older GI Bills, you are eligible for the new Post 9-11 GI Bill if you meet the service requirements. You may still earn some Post 9-11 GI Bill benefits even if you used your old GI Bill benefits. You may be due a partial refund of your old GI Bill investment if you didn’t use all your old benefits.

The benefits:

Your benefit provides up to 36 months of education benefits. The benefits are payable for 15 years following your release from active duty. Dependent children are eligible until they reach age 26—no 15 year limitation.

The amount of your benefit corresponds with the amount of active duty service you have. To learn how to apply these percentages outlined below, see this VA web page.

Act Duty Complete after Sep 10, 01/% of Max Amnt Payable
At least 36 months / 100%
Min 30 continuous days on AD-discharged, service-connected disability / 100%
30 months to 36 months / 90%
24 months to 30 months / 80%
18 months to 24 months / 70%
12 months to 18 months / 60%
6 months to 12 months / 50%
90 days to 6 months / 40%

The program will pay eligible individuals:

• Tuition & fees directly to the school not to exceed the maximum in-state tuition & fees at a public Institution of Higher Learning. Chart listing maximum rates by state.
           o For an example of tuition & fees the VA will pay your school click here
           o For an example of tuition & fee payments for a private institution click here
• A monthly housing allowance based on the Basic Allowance for Housing for an E-5 with dependents at the location of the school. To determine the BAH for your school’s ZIP code click here .
• An annual books & supplies stipend of $1,000 paid proportionately based on enrollment.
• A one-time rural benefit payment of $500 for eligible individuals.

Active duty members and their spouses (if the benefit is transferred) receive the enhanced benefit of 100% of their tuitions and fees paid, regardless of the costs. However you will not receive the housing allowance (you already receive a housing allowance) or books and supplies payment.

The Post 9-11 GI Bill benefit pays for education and training started on or after 1 Aug 09. There are no retroactive payments for education or training started or completed prior to 1 Aug 09.

On the next post, choosing between the current educational programs and the Post 9-11 GI Bill and the Transfer option.

  • Share/Bookmark

No responses yet

Next »