What Will the Post 9/11 GI Bill Pay Me to Attend Oxford?
Q: I’m highly interested in pursuing graduate studies at Oxford University. Oxford is listed on the US Veterans Benefits “approved schools” list for the GI Bill, but it does not list detailed information on how much is funded for study in Oxford. I found the following on the VA site: # $1,333 is the monthly housing rate. # The foreign tuition rate is $408.09 per credit # and the payable fees are $10,502.97 per term. 1. What is considered to be “payable fees”? 2. If Tuition at Oxford costs approximately $19,000, with College fees of $3500, and living fees of $15,000 (approximately $37,000 total) for a year of study, how would I apply the Post-9/11 GI Bill benefits to each category? Please let me know. Thank you!
A: Payable fees are the mandatory fees your school charges students and it can range from health-care fees, library fee, student activity fee, lab fees, etc. The amounts you quoted for tuition and housing allowance are correct, however in October, the new chart will come out which could change the amounts.
Under the Post 9/11 GI Bill, the VA will pay your school up to $408.09 per credit in tuition. So you would have to take how many credits you are taking per year and multiply that by $408.09. Whatever that amount is under $19,000 is what you would have left to pay. As far as fees, the VA would pay your school the full $3,500 in fees because it is under the maximum foreign school amount. For your housing allowance, you would get $1,333 per month, so considering a 9-month academic year, that would amount to $11,997. You would also get the $1,000 per year book stipend. So for 24 credits per year, this is what it looks like:
Tuition – $408.09 X 24 credits per year = $9,815.28
Fees – $3,500
Housing allowance – $1,333 per month X 9 months = $11,997
Book Stipend – $1,000
Total Post 9/11 GI Bill benefits = $26,312.28.
So with Oxford charging $37,000 per year, you would have to pay a little over $10,000 per year out of your pocket. A pretty sweet deal to go to Oxford!