Confused on Using GI Benefits and Financial Aid

Paying for College
1

<p>Hi everyone,</p>

<p>I am currently a resident in Illinois--I have plans of going to a community college in Colorado due to its aesthetic nature, as I want to be a photographer. I am a Navy veteran, served for a little over two years after September 11th and was honorably discharged--I believe that this qualifies me for 80% of Post 9/11 GI Bill benefits.</p>

<p>I already went ahead and filled out the FAFSA. I am 24, an independent and my estimated EFC is $0. I should note that I am unemployed and at risk of becoming homeless. I understand that honorably discharged veterans qualify for in-state tuition in Colorado, but do not generally receive state financial aid.</p>

<p>So knowing that I qualify for 80% of Post 9/11 GI Bill benefits, 80% of my tuition would be paid for, receive 80% of a living allowance (which in most areas would be about $1000/college month) and an $800 annual striped. So knowing all this, I think it would be safe for me to assume that I would be in better shape than most students. However, this is where catch-22 comes into play--I currently have no money and can't afford a down payment of any type. I'm sure colleges would be a little lenient on the tuition, as long as I can prove that I'm going to be receiving the financial aid, but what about the books and room/board?</p>

<p>The reason that this worries me is because from my understanding, you won't receive your first payment from the VA until <b>after</b> a month, or possibly two. This would be detrimental in my case, because I said, I really can not afford anything at the current moment. I could probably come up with the money for transportation down there and application fees, but that's about all.</p>

<p>So my question boils down to--is it feasibly possible that I could rely on Stafford loans, etc until I received GI benefits from the VA to survive? I really have no clue what to do. Thank you very much for any advice in advance. Also, I am willing to consider others schools/states, if they would allow less of a burden for me.</p>

<p>Thanks,
David</p>

<p>P.S. I have talked to several schools on the phone and unfortunately they haven't been able to tell me much that I don't already know. I would like to talk to someone that would give me cold hard facts as to whether my expenses, etc. could be deferred and other options. I don't qualify for private loans.</p>

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<p>The best resource for questions regarding how veterans’ benefits work is often the veterans’ support office … many colleges have them. They are wonderful. </p>

<p>Veterans’ educational benefits are not counted as a financial aid resource. A 0 EFC would qualify you for a Pell grant (if you do not have a prior bachelors degree) and Stafford loans (up to $9500 freshman year, of which up to $3500 may be subsidized). You may also qualify for SEOG or institutional grants, depending on the college.</p>

<p>When any money in excess of your charges would be refunded to you depends on the policies of the individual college. Schools cannot disburse funds to a student’s account more than 10 days prior to the start of the semester - when the school processes the refund is up to that school. Some do it right away, others wait up to a month. Make sure you ask the school what their policy is.</p>