Military GI Bill
Montgomery GI Bill: Established in 1944, the Montgomery GI Bill has helped over 2 million veterans attend college. This education benefit is paid to active-duty service members and veterans monthly with a total benefit potential of almost $40,000. This tax-free financial assistance for higher education can be used for tuition, books, fees, and living expenses. The amount of eligible benefit is based on the type of education you are pursuing, your length of service, and your category. It can be used to earn an undergraduate or graduate degree, or certification, and is available to you for up to 10 years after your last discharge. In order to receive payments through the Montgomery GI Bill you must provide Verification of Enrollment.
Post 9/11 GI Bill: This new bill went into effect on August 1, 2009, and gives eligible servicemen and women, veterans, Reservists, and National Guard members the ability to earn a degree from a public college or university for up to four years, free of charge. Benefits also include a monthly housing allowance and an annual stipend for books. The U.S. Department of Veterans Affairs (VA) is anticipating that the total number of veterans enrolled in college will increase 20 percent due to this new bill. You may apply this benefit to graduate or undergraduate degrees, as well as professional licensing and certification offered by a college or university. Visit the GI Bill website to see what degree programs are eligible.
Benefits are also available to those who choose to attend a private college or university, giving a partial tuition payment based on the highest cost public university by state. In addition, 1,100 schools have signed up to participate in the Yellow Ribbon Pact, through which the schools offer additional financial assistance to students that will be matched by the VA, giving the potential to attend those private colleges or universities free of charge. For more details about the Post 9/11 GI Bill, click here.
Additional information on both programs is available at MyGIBill.org.