DoD Inches Toward GI Bill Transferability Policy

By Terry Howell

The DoD has taken another step toward clarifying their policy on Post-9/11 GI Bill transferability. Unfortunately the fact sheet they released states "The rules for Post-9/11 GI Bill transferability are in the final stages, but have not been signed. The following information represents proposed policy, which is subject to change."

So just as we start to get excited about the release of the new guidelines, the DoD adds a caveat. DoD Officials decided to confirm policy details before they officially are set because VA will begin to accept Post-9/11 GI Bill application on Friday May 1.

Read the official DoD Post-9/11 Transferability Fact Sheet.

In addition to the release of the so-called fact sheet, the Armed Forces Press Service posted an article which you may find helpful. Read the full article on Military.com.

Remember - Only the DoD and VA can answer your specific eligibility questions. To get the correct answers call the VA at 1-888-GIBILL-1.

Video: Petagon Channel Reports on GI Bill Transferability

The DoD's Pentagon Channel recently ran a report on Transferring the Post-9/11 GI Bill. Although light on important details, the story confirms that the DoD plans on making the program available on August 1, 2009 when the Post-9/11 GI Bill goes into effect.

Dod is expected to release the official policy and guidance for transferability in the "near future". Until then, many questions will remain unanswered.

Note: The reporter states that the Post-9/11 will replace the Montgomery GI Bill. This is not true, the Post-9/11 will be added to the list of current GI Bill programs.

Stay tuned for more details...

5 Reasons to Use Federal Student Aid

By Terry Howell

Servicemembers and veterans have a tendency to discount the value of applying for Federal Student Aid (FSA) programs because they have the GI Bill. In most cases veterans and active-duty are eligible to apply FSA though they are maybe using their GI Bill or other programs.

Here are five reasons you shouldn’t blow-off FSA:
1. There is only one application, called the Free Application for Federal Student Aid (FAFSA), for all the federally sponsored education aid programs including subsidized and unsubsidized loans, and Pell Grants.

2. FSA can help cover the initial cost of starting school (enrollment and lab fees, up-front tuition, books , etc.)until your GI Bill kicks in. It can take up to 45 days for your benefits to start.

3. You may qualify for free money! That’s right Pell Grants are just that - grants – they are a gift.

4. Applying for FSA is not binding; you can turn down any loans you do not want.

5. FSA is less expensive than borrowing from private sources or running up your credit cards.

As a person who has used every possible source of education money, I can tell you that FSA is worth the effort. In fact, I received Pell Grants as an E-7 when I was on active-duty.

You can learn more about Federal Student Aid.

About the Author: A Retired Coast Guard Chief Petty Officer, Terry completed his BS in Management and Communications using a combination of CLEP exams, credit for military service, and distance learning while on active-duty. Terry now serves as Managing Editor for the Education Channel at Military.com.