Post 9/11 GI Bill: MBA Fact and Fiction

It is the finally official start of the Post 9/11 GI-Bill, and I am still trying to differentiate fact and fiction. Now that the facts are getting clearer, the GI Bill is becoming more and more of a disappointment if one wishes to attend HBS. It appears that because of the language of the bill, one will receive more tuition assistance at an overall lower cost school than if one went to Harvard. Support for other schools can range significantly. I’ll explain…

The GI Bill pays for two categories: tuition and fees. While these are often grouped together, they are in fact two separate accounts. Many public schools keep tuition rates artificially low, and hide the costs in “fees.” If you are reading this, you probably already know that the GI Bill is supposed to pay up to the maximum in-state public school tuition plus fees of the state to which you plan to go to school. So let’s look at Massachusetts as an example.

In Massachusetts, the most expensive in-state public school is University of Massachusetts at Amherst, and it lists its tuition/fees at $11,732. So how much do you get for HBS? Well, the University apparently only charges $71.50 per credit hour because most of the costs are in “fees.” HBS counts as 16 credit hours per term, so one receives 16 x $71.50 for tuition assistance per semester at HBS. That’s $1144 in tuition assistance per semester with 100% coverage of the new GI Bill. HBS tuition by the way, is $45,000. As you can imagine, I was rather disappointed to find this out. There is of course housing allowance on top of that, Yellow Ribbon program for those who qualify, and a “fees” that get covered on top of tuition. I compiled a list of top 20 schools and calculated everything based on my best understanding of the bill. Please note the following figures are based on my own personal research, and you should follow up with the VA and your school of choice to verify any changes and complete accuracy.What about the extra “max fees” per term? Well, Massachusetts max fees are $17,787 per term. However, since HBS has relatively low fees (most of the cost is in tuition), you get only the Program Fee, Analytics Support Fee, and Health Insurance covered. That’s still a lot better than nothing, but the rather complicated framework of the GI Bill will definitely benefit some schools over others (based on their geographic location and finance structure).

If you do not qualify for 100% of the GI Bill, take the percentage you do qualify for and multiply by the “1 year total w/o Yellow Ribbon” column. If you qualify for 100%, you can generally accept the total amount in the far right column. This information is not official and is just based on my personal research…

100% GI Bill without covered “fees” (listed by school rank)

Post 9/11 GI 100% Benefits for MBAs: 2009-2010 Academic Year (from MilitaryToBusiness.blogspot.com)
Updated 8/4/2009
USN Rank	School	Max Credit hour	Max Coverage Per Semester	One year tuition assistance total	BAH	BAH total (9 months)	Books (1 year)	1 Year total w/o Yellow Ribbon	1 Year total w/Yellow Ribbon

1	Harvard	71.50	1144	2288	2128	19152	1000	$22,440	$32,440
2	Stanford	287.00	4592	9184	1956	17604	1000	$27,788	$33,788
3	Wharton*	700.00	11200	22400	1768	15912	1000	$39,312	$59,312
4	Kellogg	575.08	9201	18403	1742	15678	1000	$35,081	$55,081
5	MIT	71.50	1144	2288	2128	19152	1000	$22,440	$22,440
6	Booth	575.08	9201	18403	1742	15678	1000	$35,081	$55,081
7	Berkeley	287.00	4592	9184	1930	17370	1000	$27,554	$27,554
8	Tuck	932.54	14921	29841	1308	11772	1000	$42,613	$81,079
9	Columbia	1010.00	16160	32320	2744	24696	1000	$58,016	$63,016
10	Yale	516	8256	16512	2225	20025	1000	$37,537	$47,537
11	NYU	1010.00	16160	32320	2744	24696	1000	$58,016	$58,016
12	Duke*	482.50	7720	15440	1242	11178	1000	$27,618	$62,618
13	Ross	990	15840	31680	1329	11961	1000	$44,641	$44,641
14	UCLA	287	4592	9184	2152	19368	1000	$29,552	$46,752
15	Tepper*	700	11200	22400	1444	12996	1000	$36,396	$36,396
16	UVA	326	5216	10432	1303	11727	1000	$23,159	$23,159
17	Cornell	1010.00	16160	32320	1388	12492	1000	$45,812	$62,660
18	McCombs	1,471.00	23536	47072	1153	10377	1000	$58,449	$58,449
19	Georgetown	197.92	3167	6333	1917	17253	1000	$24,586	$29,586
20	UNC*	482.5	7720	15440	1242	11178	1000	$27,618	$41,618

	* Approximation based on 2008-2009 because NC and PA data has not been updated by the VA

100% GI Bill without covered “fees” (listed by maximum benefits)

Post 9/11 GI 100% Benefits for MBAs: 2009-2010 Academic Year (from MilitaryToBusiness.blogspot.com)
Updated 8/4/2009
USN Rank	School	One year tuition assistance total	BAH total (9 months)	1 Year total w/o Yellow Ribbon	Yellow Ribbon Contribution	1 Year total w/Yellow Ribbon

8	Tuck	29841	11772	$42,613	38466	$81,079
9	Columbia	32320	24696	$58,016	5000	$63,016
17	Cornell	32320	12492	$45,812	16848	$62,660
12	Duke*	15440	11178	$27,618	35000	$62,618
3	Wharton*	22400	15912	$39,312	20000	$59,312
18	McCombs	47072	10377	$58,449		$58,449
11	NYU	32320	24696	$58,016		$58,016
4	Kellogg	18403	15678	$35,081	20000	$55,081
6	Booth	18403	15678	$35,081	20000	$55,081
10	Yale	16512	20025	$37,537	10000	$47,537
14	UCLA	9184	19368	$29,552	17200	$46,752
13	Ross	31680	11961	$44,641		$44,641
20	UNC*	15440	11178	$27,618	14000	$41,618
15	Tepper*	22400	12996	$36,396		$36,396
2	Stanford	9184	17604	$27,788	6000	$33,788
1	Harvard	2288	19152	$22,440	10000	$32,440
19	Georgetown	6333	17253	$24,586	5000	$29,586
7	Berkeley	9184	17370	$27,554		$27,554
16	UVA	10432	11727	$23,159		$23,159
5	MIT	2288	19152	$22,440		$22,440

	* Approximation based on 2008-2009 because NC and PA data has not been updated by the VA

If anyone has an update to the above numbers or corrections, please let me know and I will update the tables. The Yellow Ribbon program numbers were taken off the VA web site, and it’s possible it’s not completely updated. Also as noted above, data for NC and PA schools are based on last year’s credit hours because the VA has not updated those figures.

There is one additional benefit to consider, and that is the school “fees.” It’s almost certain that all your school “fees” will be covered, but you can check the coverage here to make sure. HBS charges approximately $9,000 a year in fees (including health coverage), so you can add that to the benefit numbers. Fees, as separate from tuition, are not normally listed on school web site, so contact the school of your choice for specific details. As a rule of thumb though, school fees for top MBA school will probably be in the $3000-$10000 range.

Read the full article: Post 9/11 GI Bill: MBA Fact and Fiction

http://grantsforeducation.info Margaret

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Margaret

http://grantsforeducation.info
Cory

I think you forgot to include a column that covers fees. As you stated, the G.I. Bill covers tuition and fees separately. In your MA example, up to $17,787 is covered in fees per term (also just to update, $300/credit hour is the MA max). My math works out to $67,897 per year total max benefit ($10,560 tuition/$35,574 fees/$20,763 9mo.BAH/$1000 books). This seems high? Am I mis-reading?

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