The GI Bill is one of the more valuable military education benefits available to members and veterans of the U.S. military. It provides financial assistance for servicemembers who wish to continue their educations. Most recipients choose to use their benefits after leaving the armed forces because there are other educational programs available to active duty members, but GI Bill funds can also be used while active if need be.
The original Servicemen's Readjustment Act has been around since 1944, but the more familiar Montgomery GI Bill (MGIB) was enacted in 1984. It reiterated and expanded upon the original bill's elegibility requirements and benefits. The GI Bill has since been revamped once again, in 2008. This newest version of the law, known as the Post 9/11 GI Bill, went into effect in August 2009.
Full time, active duty members are entitled to the largest amounts military education benefits. For qualifying recipients, the Post 9/11 GI Bill covers the full cost of tuition up to the cost of the highest priced state school in the recipient's state. Students who have left the army can also receive additional stipends for housing and books. This bill is limited to approved Institutions of Higher Learning while the Montgomery GI Bill provides funds for a wider variety of training including apprenticeships, flight training, and correspondence courses.
The Montgomery Bill is structured a little differently. As of August 2008 it provides a maximum of $1,321 per month to service members who served three years or more of active duty, an amount that scales back for less than full time students. Members with less than three years can receive a maximum of $1,073. Veterans must take advantage of these funds within an allotted timeframe: eligibility expires ten years after the latest active duty for the Montgomery bill and fifteen years for the Post-9/11 bill.
Reservists and Guardsmen are also eligible for education benefits. The Montgomery GI Bill includes a Selected Reserve section which provides a monthly education payment, and this section includes all of the reserve branches as well as the Air and Army National Guards. There is also a separate Reserve Educational Assistance Program (REAP) for reservists who served at least 90 days of active duty after 9/11/01. Depending on the length of active duty, these reservists may be eligible for benefits almost as valuable as active duty MGIB benefits.
The Veterans Educational Assistance Program (VEAP) is available for veterans who entered the services between 1977 and 1985, before the Montgomery GI Bill. It is based on contributions from the servicemember's pay, which are matched two-to-one by the government.
The Survivors' and Dependents' Educational Assistance Program (DEA) provides up to 45 months of benefits for spouses and dependents of servicemembers who have been killed or disabled in service. The Post-9/11 GI Bill also has provision for dependents: an eligible member can transfer his or her benefits to a spouse or child, in whole or in part. This can be very useful for a retiring veteran, or one who already has a degree.
There is an extremely large amount of information on military education benefits, far more than can be explained in full here. Anyone interested in any of the GI Bills should contact their VA office or military recruiter for full details and options.