Repayment of the $3,000 Post-9/11 GI Bill benefits.
Apparently 122,000 people have received a “warning letter” stating they can have payments recouped from their monthly living stipends at a rate of $750 a month. The deductions will begin April 1 and the advance pay will be repaid in four months. This means you will receive monthly payments around $200. Yup, $200 big ones. I know a lot of veterans who live off their GI Bill benefits, and this is going to hurt.
If you are not enrolled in a college or university for the spring semester, you need to cough up the money somehow. VA requires a monthly payment plan, and they want their money back within one year. Luckily for you the $3,000 is interest free.
I took the $3,000 when it was offered to me and shortly after my payments started to show up. Before I took the money, I called to see if my claim was close to being processed and they could not tell me anything expect, “Yeah, we have it.” If I would have known my payments would have started as soon as they did, I would not have taken the advancement. Living on $200 a month will be a challenge. Yes, I do work a few nights a week. If I could work more hours I would but my current class schedule makes it almost impossible.
Good luck all!
More information here.