Save GI Bill for kids?

[keelerjr12]

Debating on whether or not to use my GI Bill for my kids or use it for grad school. I have another 8 years on my commitment which means that I need to transfer my GI Bill to my kids 4 years from now. At this point in time I'm not married nor do I have kids (26 years old). I am starting grad school in a few weeks (~2990 between tuition and fees). I do not plan on serving out my last 9-10 years in the military so I have a short period of time to transfer my benefits once I do have kids.

As of right now using the average rate increase of public tuition I'm better off saving it for kids. However, there are a lot of what-ifs with saving the GI Bill (e.g. what if I don't have kids in the next 4 years, what if the gov't doesn't cover full public tuition, what if the GI Bill doesn't exist, etc.).

Which is pushing me towards just using half my GI Bill on myself. It'll leave me with 18 months leftover that I can transfer for my kids. People that have been in this position, what have you done?

[creditcardfree]

I think I would use it all on yourself. You have done the work, the benefit is yours and these kids don't exist yet. The fact that you are bettering yourself with a masters at age 26 says you have the willingness to earn and provide. Another idea is to 'pay yourself back' the benefit your receive and invest that money for the future.

So use your benefit, but invest what you would have spent in tuition. Maybe someday that money will benefit your future kids.

My husband already has his bachelors and doesn't plan to get a master's, although a possibility. We have split his benefit evenly between our two daughters. Effectively, we only have to pay for one degree out of our own pocket.

[keelerjr12]

I think I would use it all on yourself. You have done the work, the benefit is yours and these kids don't exist yet. The fact that you are bettering yourself with a masters at age 26 says you have the willingness to earn and provide. Another idea is to 'pay yourself back' the benefit your receive and invest that money for the future.

So use your benefit, but invest what you would have spent in tuition. Maybe someday that money will benefit your future kids.

My husband already has his bachelors and doesn't plan to get a master's, although a possibility. We have split his benefit evenly between our two daughters. Effectively, we only have to pay for one degree out of our own pocket.

That's kind of my thought. My plan is to invest what I would have spent on tuition. I know that if I use it now it's at least a sure thing. If I wait the next 25 years, the benefits of today may not even be there.