It is not possible to use your GI Bill to pursue a Private Helicopter Pilot License as a private pilot is not a pilot for hire. Only vocational training programs are approved by the Department of Veteran Affairs.
With regards to how a veteran receives their benefits, it is important to understand that the funds available through the GI Bill can only be obtained by reimbursement of flight training costs. The GI Bill cannot be used as a direct payment source. This means that the veteran must pay for training expenses out of pocket. The timeline for reimbursement occurs as follows: