The GI Bill provides money to pursue higher education.
The Montgomery GI Bill acts as an education benefits program for United States military veterans, active duty and reserve service members. The bill has gone through several changes since President Franklin Roosevelt first signed it into law in 1944 as the Servicemen's Readjustment Act.
Eligibility
According to the United States Department of Veterans Affairs, you may obtain GI Bill benefits if you have served a minimum of two years on active duty, are a graduate of high school or GED equivalency and if you made the $100 monthly contributions during your first year of active duty. Eligibility requirements vary, however, and depend on several factors. You can determine specific benefit eligibility by visiting the Veterans Affairs website and completing the "Road Map to Success" application form.
Benefits
The GI Bill is a tax-free benefit program and can be used for any expenses related to educational pursuits. Covered expenses typically include tuition, books, supplies and relocation and living expenses. You can transfer benefits to one or more dependents if you have completed six years of active duty and agree to complete four more years.
Post 9/11 GI Bill
The Post 9/11 GI Bill went into effect August 1, 2009 and offers benefits to those who have served on active duty for 90 or more days since Sept. 10, 2001. Benefits include up to 100 percent coverage for tuition and fees, a monthly housing stipend, annual allowance for books and supplies, and the option to transfer benefits to one or more dependents.
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