What would benefit Veterans more, GI Bill or 75k for housing?

Sgt Jordan Foster — Thu, 16 Apr 2020 09:18:46 -0400

We understand the need for education and financial freedom but the biggest worry for a family is providing.
Yes the GI bill provides BAH and the VA Home loan but does one hand really help the other in this situation? Or is it more realistic to have a house paid off continue at the job you don’t plan on leaving and not have the worry about having to go to school to change your situation and a 30 year loan? Your thoughts...

Response by SGT David A. 'Cowboy' Groth made Apr 16 at 2020 9:27 AM

SGT David A. 'Cowboy' Groth — Thu, 16 Apr 2020 09:27:17 -0400

Personally I would go with the GI Bill.

Response by MAJ Byron Oyler made Apr 16 at 2020 9:41 AM

MAJ Byron Oyler — Thu, 16 Apr 2020 09:41:37 -0400

Completing my education has made me over a million dollars and right now for someone in my job that wants to commit to the military for six years, $35,000/yr x six years. I have a neighbor that makes roughly $20K a month off a business education. Receiving 75K for a house will short change most people.

Response by Lt Col Charlie Brown made Apr 16 at 2020 9:54 AM

Lt Col Charlie Brown — Thu, 16 Apr 2020 09:54:54 -0400

One is a handout and the other is an opportunity to change your status...

Response by CWO3 Private RallyPoint Member made Apr 16 at 2020 10:34 AM

CWO3 Private RallyPoint Member — Thu, 16 Apr 2020 10:34:00 -0400

Rhetorical question. No 75K in the future, post covid or otherwise. If you've ever driven a rental car, then you understand ownership. You appreciate something more when you earn it by your labor. GI Bill is a benefit earned and much appreciated. Many have earned their way to a college education while on AD. The same applies to a home after getting out. Just like starting as a Recruit, start small on a home and finance it wisely. VA can help with that. Look at a starter home but use 15 year loan to cut down on total cost due to interest over time. Higher payment but lower net cost and more equity built in shorter timespan.

Response by SFC(P) Jonathan P. made Apr 16 at 2020 10:40 AM

SFC(P) Jonathan P. — Thu, 16 Apr 2020 10:40:55 -0400

What can you do with that money or opportunity, if you don't have the education to back you up? I'm all for the GI bill. I think if people do use the time to study what they want to and apply themselves instead of worry about the money, then ultimately, the money would come by its self. I have a business and am also enrolled in school and working full time all in the military school is that's helping me better prepare and organize where I'm headed.

Response by SGT Herbert Bollum made Apr 16 at 2020 10:58 AM

SGT Herbert Bollum — Thu, 16 Apr 2020 10:58:17 -0400

"Give a man a fish,he will eat for today. Teach a man to fish and he can eat forever."
Or something like that was thee quote I heard.
I got out after almost seven years of doing radar maintenance and went to school immediately my plans changed over time. I got my A.A.S. Electronics Technology but never finished my Bachelors, but I found a lot of value in all the education I got. I don't know that it made me any more money, but it enriched my life.
Life changes your plans for you...you may not plan to ever leave that job, home, city or whatever, but things happen that make your life take a different path.
Education will benefit you more than $$$ today.

Response by Sgt Private RallyPoint Member made Apr 16 at 2020 12:44 PM

Sgt Private RallyPoint Member — Thu, 16 Apr 2020 12:44:28 -0400

I started the G.I. Bill in 1972 when the amount paid was a lot less with no BAH or anything else. I worked full time and went to school full time. The G.I. Bill is an excellent benefit to take advantage of. Why should the government tax me to pay you 75K for housing? Work hard, manage your money, save, invest, and leave my money alone.

Response by MAJ Ken Landgren made Apr 16 at 2020 2:52 PM

MAJ Ken Landgren — Thu, 16 Apr 2020 14:52:44 -0400

The proper analysis is what is the difference between a college degreed job and the current job. Lets say the difference is $500 a month for 30 years. What is the value now of the $500 x 360 months? Is it less or greater than $75,000? You can't just multiply $500 x 360 because $500 in 30 years is not worth $500 today.

Response by Lt Col Jim Coe made Apr 16 at 2020 4:00 PM

Lt Col Jim Coe — Thu, 16 Apr 2020 16:00:39 -0400

We have the best of both worlds now if you progress through life in a certain process or order. First, you get an education, then find a good job, and after a period of working you buy a house--the "American Dream." I say don't mess with the current benefits.

Education (technical, vocational, traditional university) accrues to you for a lifetime. Some of the things you learn may become out-of-date, but the achievement always is credited to you. For example, I learned to program in FORTRAN IV in college. That programming language has disappeared, but the Bachelors Degree remains on my resume. The GI Bill provides very valuable education benefits. I'm concerned that if we let Congress open that box, they will take more out than they put in.

The VA Home Loan program is another valuable benefit. The "zero down" option allows young home owners to get into a house with little initial investment. It also puts them in a favorable tax situation with home mortgage interest being a tax deduction. Rent, of course, isn't deductible for most families. I don't see that $75K would help more than an opportunity to get a good job. In fact, it might encourage people to buy houses that are more expensive than they might otherwise purchase. In many parts of the US, $75K will buy less than half of a three-bedroom, 1.5 bath home in a nice subdivision. I'm not sure that helps all that much.

Response by CSM Darieus ZaGara made Apr 16 at 2020 5:47 PM

CSM Darieus ZaGara — Thu, 16 Apr 2020 17:47:31 -0400

Is this an option, as I have never heard of it. Paying - chunk toward a house is always a good thing. Depending on your skills, is what determines your salary. So is the degree worth more over the years than 75k. Example, I know many military who took the time to get their Masters, when they left service they went straight to low 6 figures. Now that isnt always the case, but a degree is worth a lot more over A 20 or 30 year span than is equity in a home. Lastly, how fast can you pay a house off when your income barely makes ends meet. Anyways, your question is more complex that you give it credit for.

Response by PO1 John Connolly made Apr 16 at 2020 10:47 PM

PO1 John Connolly — Thu, 16 Apr 2020 22:47:32 -0400

Hi Jordan, John here,

Well, not everyone looks at life the same way. It all depends on how we were brought up our influences, experiences, wants, desires, ambitions, and many other factors that determine why we make the decisions we make and the path that we choose at each point in our life.

I could say and want to believe we all share common thoughts. We all are proud of serving our country. What unites us is our sacrifice and service to our country, but this is not the case with everyone. Each individual has a different reason for what they want out of life. Some will say, man, I joined the military for a paycheck, who knows the many reasons for serving. But the benefits are there for all who serve no matter the reason.

The G.I. Bill, VA Loan, and other benefits provided to veterans, active duty service members, and their families are there if they choose to use them. These are benefits during and after service to assist in our transition to civilian life. For the sacrifices, we have made in our life serving our country.

Many have chosen to use them; many have decided not to use them. I am grateful we have them.

The GI Bill provides service members, their children, and/or spouses an opportunity to pursue an education get a promotion or start a business. The G.I. Bill and V.A. Home Loan is a few of the benefits offered for service to our country. It has enriched many lives of veterans.

Yes, you get BAH, this is to help you live while pursuing your education.

The home loan is a benefit where the government guarantees a lender for a certain percentage of a home loan; in return, for service to your country you provided lower interest rates, pay less for PIM insurance, and pay less to the bank for processing, etc. In return, a veteran or active service member can accomplish the dream of being a homeowner when possibly they would not have been able without the support.

If you use the GI Bill, you get an education that leads possibly to higher pay, a better career.

The V.A. Loan guarantee program afforded many the opportunity to own a home. Providing a feeling of accomplishment and a more fulfilled, and productive life.

These two programs are great benefits that I am grateful we have as veterans. It has provided veterans, active duty, and their families a higher sense of confidence, forward momentum, and energy to accomplish more worthwhile goals in life.

On the other hand, a 75K cash payment, in my opinion, will accomplish nothing but problems. 99% of the time, last an average person 30 days to squander. It has no value without personal action to create. It is just a handout and will be gone as quickly as money meets the hand.

I believe what you don't put the effort in to create will soon disappear in the wind. You will be right where you started or worse than the day you received the money.

Nothing worthwhile in life comes to us on a silver platter. What becomes worthwhile are the things we create from our own energy and imagination. What you create by taking action it gives you a sense of accomplishment if life.

When you create an Intention and focus on it long enough, you will be surprised I what you can accomplish.

I will end by quoting one of my favorite Presidents.
Former President John F. Kennedy asked the world in his speech to do what every veteran did by serving their country.

We did it, and in return, we are provided benefits like the Post 911 GI bill and V.A. Loan Guarantee as a thank our service to the world and humankind.

In his speech, in January of 1961, he said:

"My fellow citizens of the world ask not what America can do for you but together what we can do for the freedom of man."

I want to believe that all veterans chose to serve to take part in working together in the world for freedom of all humankind.

Response by PO1 John Connolly made Apr 16 at 2020 10:58 PM

PO1 John Connolly — Thu, 16 Apr 2020 22:58:49 -0400

Hi Jordan, John here, when you say (WE) understand who are your references? Do you mean all veterans in this community understand? I will assume this is what you mean.

Well, not everyone looks at life the same way. It all depends on how we brought up our influences, experiences, wants, desires, ambitions, and many other factors that determine why we make the decisions we take the path that we carry at each point in our life.

I could say and want to believe we all share common thoughts. We all are proud of serving our country. What unites us is our sacrifice and service to our country, but this is not the case with everyone. Each individual has a different reason for what they want out of life. Some will say, man, I joined the military for a paycheck, who knows the reasons. Everyone has different goals and ideas.

My point is the Post 911 G.I., VA Loan, and many other benefits provided to veterans, active duty. Retired service members and their families are there if they choose to use them to improve or assist them in their life for the sacrifices they have made in their life for serving our country for a specific part of our lives.

Many have chosen to use them; many have decided not to use them.

The GI Bill provides service members, their children, or spouses an opportunity to pursue an education. To start a business, get a promotion, start a business. G.I. Bill and V.A. Home Loan is the benefits offered for service to our country. We can use them or not.

Yes, you get BAH, this is to help you live while pursuing your education. The home loan is another benefit where the government guarantees a lender for a certain percentage of the loan; in return, you get lower interest rates, pay less for insurance, and pay less to the bank for processing, etc. In return, a veteran or service member can accomplish the dream of being a homeowner when quite possibly they would not have been able.

If you use the GI Bill, you get an education and which could lead to higher pay in your chosen profession or trade.

If it were not for the V.A. Loan program, many would have never been to afford to purchase a home. If you utilize your V.A. Loan and buy the home of your dreams, you will feel happy, live a more fulfilled, and more productive life.

These two programs, I believe, help veterans, active duty, and their families have high confidence, forward momentum, and energy to accomplish more significant goals and aspirations moving forward in your lives.

On the other hand, a 75K cash payment, in my opinion, will accomplish nothing but problems. 99% of the time, last an average person 30 days to squander. It has no value without personal action to create. It is just a handout and will be gone as quickly as it's handed to you.

What you don't put the effort in to create will soon disappear in the wind. You will be right where you started or worse than the day you received the money.

Nothing worthwhile in life comes to us on a silver platter. What becomes worthwhile are the things you create for yourself. What you create by taking action is what moves each of us forward. The only things in life that are worthwhile are what we create.

Create an Intention. Focus on that Intention long enough, and you will accomplish it.

Put your attention on what you desire. Stay interested in accomplishing it. If your desire to achieve is greater than the distractions in your life, you will do it!

I will end by quoting one of my favorite Presidents.
Former President John F. Kennedy. He asked the world in his speech to do

We did it, and in return, we are provided benefits like the Post 911 GI bill and V.A. Loan Guarantee as a thank our service to the world and humankind.

In his speech, in January of 1961, he also said:

"My fellow citizens of the world ask not what America can do for you but together what we can do for the freedom of man."

I want to believe that all veterans chose to serve to take part in working together in the world for the Freedom of Humankind.

Response by SMSgt Lawrence McCarter made Apr 17 at 2020 1:47 AM

SMSgt Lawrence McCarter — Fri, 17 Apr 2020 01:47:52 -0400

Having the degree increased my income which in turn allowed Me to purchase a nicer home than I would have otherwise. The degree also opens up a lot of opportunity that otherwise might be a lot more difficult to achieve and may well help raise Your overall standard of living. In today's economy there are very few places where $75,000 will buy You a house anyway, what You would have is only a down payment and the rest either You have or would need a loan.

Response by MAJ Ken Landgren made Apr 17 at 2020 8:36 PM

MAJ Ken Landgren — Fri, 17 Apr 2020 20:36:17 -0400

I looked up average salaries (2018):

HS: no mortgage + $35,256/year salary.
Degree: pay mortgage + $59,124/year salary.

However, in both cases you will end up owning a house.

Response by Sgt Ed Allen made Apr 18 at 2020 12:33 PM

Sgt Ed Allen — Sat, 18 Apr 2020 12:33:05 -0400

If I had been offered the option of 75k towards a first home or 75k towards education, I would definitely have preferred the financial assistance towards a home. Combine that with the VA loan, and you have a real winner for most people.
As for the education, 75k could give you a full degree, or a partial degree, depending on the school. But this is no guaranty of a job afterwards. And many people, after spending years and 10s of thousands of dollars, are still now working in their chosen area of schooling.
Then again, when I served, the GI Bill wasn't anything like it is now. For education, you maxed out at $8,100 if you contributed the maximum of $2,700 to the Veterans Education Assistance Program.

As a reminder, be very thankful that you have the benefits that you do now. You never know when the House of Representatives and the Senate may decide that you don't deserve those benefits (like they did after Vietnam) and decide to take them away.

Response by MSgt Earl Hinchey made Apr 19 at 2020 12:11 PM

MSgt Earl Hinchey — Sun, 19 Apr 2020 12:11:50 -0400

No jobs are secure anymore. You can get a BS degree cheaper by going to community college to get basics out of the way, then finishing with a university. You probably have car insurance, some type of health insurance and maybe life insurance. A BS can be looked at as job insurance paid for by your goverment for your service to it.

Response by CPT Private RallyPoint Member made Apr 19 at 2020 2:43 PM

CPT Private RallyPoint Member — Sun, 19 Apr 2020 14:43:23 -0400

GI Bill

Response by GySgt Kenneth Pepper made Apr 20 at 2020 8:03 AM

GySgt Kenneth Pepper — Mon, 20 Apr 2020 08:03:37 -0400

Using the GI Bill to further my education was a long term investment. That investment is now paying off in a higher annual salary that I wouldn't have without the education and certifications I earned.
That has enabled me to buy a house and pay it off (hopefully within the next year) much sooner than anticipated.
Education is the key to financial freedom.
I understand that going to school isn't the route for everyone. The GI Bill is in place to give veteran's an opportunity to enrich their lives through education. It is not a social program.

Response by SGT Danny Strzyzewski made Apr 20 at 2020 9:16 AM

SGT Danny Strzyzewski — Mon, 20 Apr 2020 09:16:30 -0400

A house doesn't put food on the table and clothes on your back. 75K honestly won't go very far, in most places. A degree (used wisely) can provide all that and then some. Short term vs Long term

Response by SSgt Christophe Murphy made Apr 20 at 2020 3:05 PM

SSgt Christophe Murphy — Mon, 20 Apr 2020 15:05:55 -0400

Education/BAH and the home loan are way more useful and make a much larger impact in a Veterans life than 75k towards a home. I can totally understand the allure and help that paying off that much towards a home would provide for a family but it’s short sighted and temporary.

The 75k without a low interest home loan would still cause issues and waste money. Another issue is that a Veteran could possibly make the mistake of getting more house than they need and end up getting slammed come property tax season.

Plus at the end of the day having a house isn’t a career or livelihood. Having a well paying job and job skills is way more important. And you can always get a nice home after that nice paycheck starts hitting

Response by SCPO Private RallyPoint Member made Jul 11 at 2020 12:10 PM

SCPO Private RallyPoint Member — Sat, 11 Jul 2020 12:10:10 -0400

YES!!!