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G.I. Kick back?
Last Post 05 Aug 2009 12:21 PM by BCK_85. 19 Replies.
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BCK_85User is Offline
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BCK_85

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29 Jul 2009 06:13 PM
    I have had several friends in other services tell me to ask my recruiter about a GI Kickback. Not sure what that is? any ideas?
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
    pepperdoggieUser is Offline
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    pepperdoggie

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    29 Jul 2009 06:22 PM
    Probably a bonus for signing up. There's not many of those in the CG right now unless it is for a critical rating. Other than that, I have no clue.


    10AC4ME

    BCK_85User is Offline
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    BCK_85

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    31 Jul 2009 04:54 PM
    I just got a hold of my friend in the Air force that mentioned it. He said it was where they paid for school already taken. I laughed and told him the CG doesn't do that. He made a weird noise and said that he thought that the GI bill didn't depend on which service you were in. So confusing... I've read over and over on this forum that the CG doesn't pay for school already taken. Oh well, when ever I get to the recruiter I'll bug him about it.
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
    weppropUser is Offline
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    wepprop

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    31 Jul 2009 05:02 PM
    Your friend is correct that Montgomery GI Bill benefits don't depend on which service you were in. But payment for school taken prior to enlistment isn't in the GI Bill. At least, I'm sure it wasn't in the 'old GI Bill' and I can't find any mention of it in the information I can find about the 'New GI Bill'.
    BCK_85User is Offline
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    BCK_85

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    31 Jul 2009 05:24 PM
    cool, thanks! where could I find the new GI bill text?
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
    weppropUser is Offline
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    wepprop

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    31 Jul 2009 05:38 PM
    Wikipedia Summary, with references and links. Good luck reading the actual text of the Federal code, however. It always makes my head hurt. It's usually better to read the agency regulations that implement the law. Those are usually more easily understood and, besides, if they interpret the law one way and you interpret it another, they are going to do it their way.
    BCK_85User is Offline
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    BCK_85

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    31 Jul 2009 06:06 PM
    lol, i understand how that goes. In pilot school I had to read and interpret FAA regs... blah! Just want to see if I could pile up the list of questions for the recruiter... Thanks!
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
    jen899193User is Offline
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    jen899193

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    31 Jul 2009 06:27 PM
    i have quite a few d.o.t. binders with regulations if you would like to try tackling them!!


    Jen
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    SN Church, Brittney R.
    CGC Alex Haley
    Kodiak, Alaska
     
     
    "Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety." ~Benjamin Franklin
     
     
     
     

    ~Jen~
    BCK_85User is Offline
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    BCK_85

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    31 Jul 2009 07:17 PM
    lol! no thanks... not even sure what DOT is for (Dept of Trans?). I currently work for FEMAs flood insurance program, doing the hazard analysis for communities, and I just now am figuring out the basics of those federal regulations. It seems like what ever job I work at, has binders and binders of new regs for me to learn. haha!
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
    MoleraUser is Offline
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    Molera

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    01 Aug 2009 04:42 AM
    Will the Coast Guard pay off or defer my student loans?

    No. The Coast Guard does not pay off or defer student loans. In addition, the Higher Education Amendment Act of 1992 effectively eliminated the 3-year deferment provision of the Higher Education Act of 1965. Those entering military service must now demonstrate economic hardship as defined by the Act. However, there is current legislation seeking reinstatement of that deferment provision. You should also check with your lenders or law school career service office to see if you qualify for any other deferments or loan assistance repayment programs. Additionally, loans obtained directly from law schools (except GSL/Stafford) and bar loans may be subject to a cap on the chargeable interest rate specified by the Service Member's Civil Relief Act.

    straight from http://www.uscg.mil/Legal/recruit/DCL_FAQ.asp
    sardaddyUser is Offline
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    sardaddy

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    04 Aug 2009 02:37 PM
    The GI Bill is the same no matter what service you join. Your friend is simply incorrect that the GI Bill is paying for student loans or previous courses. That would be a completely different program that is offered by his chosen service. It is not the GI bill.


    Life is hard. It's even harder when you're stupid.

    BCK_85User is Offline
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    BCK_85

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    04 Aug 2009 04:24 PM
    Cool, thanks for clarifying! I have another question. Could I refinance all of my loans once I've joined using the credit military credit union? (sorry don't know that name). Such as college loans and car loans?
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
    sardaddyUser is Offline
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    sardaddy

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    04 Aug 2009 09:39 PM
    You can try to refinance anything you want to with any bank or credit union just like anyone else. The military doesn't have its own bank system for members to use. The banks on military bases are civilian banks. There are banks and credit unions that cater to the military as well but the rules for refinancing are what they choose so you will have to ask the lending institution not a military member. In other words, if you have bad credit as a civilian, you will still have bad credit as a military member. 

    I would suggest not refinancing a college loan unless you are in a weird situation. College loans are usually the lowest interest rate and have very reasonable payoff rates.


    Life is hard. It's even harder when you're stupid.

    captkyguyUser is Offline
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    05 Aug 2009 12:19 AM
    BCK_85 said...
    I just got a hold of my friend in the Air force that mentioned it. He said it was where they paid for school already taken. I laughed and told him the CG doesn't do that. He made a weird noise and said that he thought that the GI bill didn't depend on which service you were in. So confusing... I've read over and over on this forum that the CG doesn't pay for school already taken. Oh well, when ever I get to the recruiter I'll bug him about it.
    This is what your Air Force friend was probably referring to;

    The College Loan Repayment Program (CLRP) is for all non-prior-service persons considering enlistment in the Air Force. If you have taken some college courses and have accumulated debt, this program may be for you. Participants must sign up for this program when signing the enlistment contract. Under CLRP the repayment maximum is $10,000 per recruit.


    As others have stated it is not part of the Post 9/11 or Montgomery GI Bill.


    Kyle
     
    In his life changing name God Bless!

    <!-- Edit -->

    Last Edited : 8/4/2009 8:59:01 PM GMT

    I want to finally set it free, So show me how to see what Your mercy sees, Help me now to give what You gave to me...Forgiveness, Forgiveness
    weppropUser is Offline
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    wepprop

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    05 Aug 2009 12:27 AM
    I'm inventing a new program: The College Tuition Repayment Program (CTRP). All students graduating from college are required to pay back whatever portion of their tuition was paid by their parents...
    captkyguyUser is Offline
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    captkyguy

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    05 Aug 2009 12:33 AM
    wepprop said...
    I'm inventing a new program: The College Tuition Repayment Program (CTRP). All students graduating from college are required to pay back whatever portion of their tuition was paid by their parents...
    I have not participated with this on either side yet but I like it...Great Program Idea!


    Kyle
     
    In his life changing name God Bless!

    I want to finally set it free, So show me how to see what Your mercy sees, Help me now to give what You gave to me...Forgiveness, Forgiveness
    Bored of Desk JobsUser is Offline
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    Bored of Desk Jobs

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    05 Aug 2009 01:06 AM
    Hahaha. Not thinking too hard into that situation it sounds like it'd be a bad economic decision. I really don't have the brain capacity to explain my reasonings at the moment, but I might later!

    Short: students would care about what they wanted to go to school for thinking about the debt.

    Funny and practical sounding idea though :) That college fund is ALSO retirement cash... with interest! Woohoo!
    Bored of Desk JobsUser is Offline
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    Bored of Desk Jobs

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    05 Aug 2009 01:08 AM
    Plus one of the fundamentals of economics deals with offspring being better off than their parents. No benefit to the child, while benefiting the parents.
    Bored of Desk JobsUser is Offline
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    Bored of Desk Jobs

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    05 Aug 2009 01:10 AM
    PS. Not being negative, just accessing the situation/joke =)
    BCK_85User is Offline
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    BCK_85

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    05 Aug 2009 12:21 PM
    wow so many responses over night. haha, I'll try my best to respond to them all.
    I have excellent credit, so I wonder if as a CG if I were to refinance things if the interst rate would be lower.
    I agree with the parent repayment program. haha, My parents took out parent plus loans to help me finish college, but I'm paying the loans back for them. It was our agreement. also, for the first 2 years of college (high school senior dual credit year and my freshman year at college) they told me that if I got A's they would pay for the class, if I got B's then they would pay for half of the class, and if I got C's then I would have to pay for the class... D's were I had to pay for it, and the retake of the class... F was not an option. Needless to say, I graduated Manga Cum Laud (3.89).
    I got tired of having project/class mates total blow off their classes and grades. It got to the point where my professor told me to stop trying to motivate the people I was doing projects with, because he said it was holding me back. Sad, I wish more people realized how lucky we are to even to go to College much less have the opportunity to better ourselves. Any ways... i'm getting off of my soap box...
    Benj
    Emergency Management Specialist

    "In a disaster, never assume that things will go as planned, but plan to reduce the number of things that will surprise you." Dr. Rozdilsky former UNT Professor of Emergency Administration and Planning.
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