GI Bill Vs. Post GI Bill; Which is Better for You?

As of August, 2009, the Post 9/11 GI Bill has taken effect and veterans across the country are still awaiting payment. It has taken the United States Treasury a bit longer than anticipated; however, many veterans are claiming this alternative will definitely prove more beneficial. In fact, the government has estimated that $78 billion is needed to provide for veteran's full in-state undergraduate degrees. For those of you not familiar with the educational assistance program, let's break it down below.

The original GI Bill was passed by Congress nearly 7 decades ago, and since then, veterans were given the option to attend school and receive increments monthly to pay for their courses. Full time students would rate roughly $1325; however, if a College Fund or "kicker" was paid for during active duty, you can estimate $1471 monthly. Veterans simply contact their VA office to verify enrollment, which their academy will also do, and 4-6 days later the money can be directly deposited into your bank account. Of course, the money is a reimbursement of what you have already paid to the financial institution. Anything remaining can be pocketed. This will provide up to 36 months of entitlements and can used for a variety of apprenticeship/on the job training courses.

The Post 9/11 GI Bill works as such. Those veterans with an honorable discharge, and having served at least 90 days aggregate service, are eligible for the new GI Bill. Most in-state tuitions will be completely paid for (of course you are free to check the maximum rates) by the VA office. This will eliminate the need to pay out of pocket for the student's courses, and then rely on reimbursements. The payment will be sent direct to the university of choice. On another note, each will rate Basic Housing Allowance considerable to that of an E-5 rank. This varies depending on location, but can reach up to nearly $1400 per month in larger cities. To complete the benefits, a book stipend of $1000 will be provided annually based on your enrollment.

I, personally, have spent time reviewing each option and have thus decided to stick with the original GI Bill. I have currently been employed for the past 2 years and enrolled full-time in online education. The Post GI Bill will require that I attend in house courses which may conflict with my work schedule. The deciding factor; that I make more employed full time and receiving the Montgomery GI Bill than I would if I suddenly switch to the Post. However, those not employed may take advantage of the Post and earn that extra BAH money to provide for them while attending school full-time. I believe that both options are great additions to what Congress has invoked for it's veterans; it simply depends on which route is more profitable for you.

http://www.gibill.va.gov/GI_Bill_Info/benefits.htm#CH33