GI BILL question?

Question

I have spoken to some people that have used the GI Bill for school and have also pocketed some of the cash instead of using it all to pay for school. Does anyone on here know of ways to keep some legal ways to keep GI Bill money instead of using it all to pay for schooling

Answer 1

Here is how it works. If you are going to college full time, then you get a !00% monthly allowance. The money goes directly into your bank account, then you would cut a check to the college for the amount due that month. If your tuition is only 200, but you get $300, then the $100 is yours to do with as you wish. Many people put it into a Roth IRA. The money will grow and as long as you take it out for college purposes, you will not be penalized. It is not stealing from the government as some people have stated before. You paid into the money so it is yours to do with as you wish as long as you are enrolled in college. Just remember it is not bottomless, so use the money wisely!

Answer 2

To collect the GI Bill all you need to do is be enrolled in school and keep your GPA above a 2.0 You can use the money however you want. Last semester I got my school paid for with grants and I collect 1075.00 a month for monthly expenses like rent and food. The GI Bill does not have to be used for school.

Answer 3

There is no way to keep it all. You have to use it to pay for school. But you get it as a budget when you go to school if you have any left over when you pay for books and classes you keep the rest. It is also supposed to be used for living exspenses while you attend classes.

Answer 4

Why would you want to defraud the government?

Why would you not use it to better yourself by applying to college?