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Veterans Education Frequently Asked Questions - Massachusetts ...

Veterans Education Frequently Asked Questions - Massachusetts ...

Is the GI Bill

Is the GI Bill considered Financial Aid and How do I report the Yellow Ribbon for Eligible Post 9/11 (Chapter 33) students ? Yellow Ribbon is Part of Chapter 33 (Post 9/11 GI Bill) • The GI Bill is considered an entitlement, not financial aid. • To report Yellow Ribbon: (Private College with cap of $17,500) (1 Yellow Ribbon Slot = $5,000) • Fall semester students net tuition & fee bill is $20,000.00 • Report net “Tuition / Fee” ($20,000) • Report YR Box $1,250, in doing so School agrees to waive the $1,250. • VA will pay $17,500 + $1,250.00 – Students bill is paid in full • Spring Semester Students Net Charges = $20,000 • Report net “Tuition / Fee” ($20,000) • Report YR Box $3,750, in doing so School agrees to waive the $3,750. • VA will pay $3,750 - Student is responsible for remaining $12,500

What happens when tuition and fees have been verified for a semester and the student notifies us of new funds that have come in? The nature of the funds have to be reviewed: • If funds are a result of excluded items, nothing needs to be done. • Excluded items include: • Title IV Funds • Loans • Money from generous relatives or Powerball • If funds are the result of state, federal or institutional scholarship, grant (OR) a program (Excluding Title IV) that pays tuition and fees: • 22-1999-b must be filled out to reflect / adjust NET cost

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