Attention! Is the G.I. Bill Right for You?
May 18, 2009 | StudentStuff Staff
It was back on June 22, 1944 that President Franklin Delano Roosevelt signed the Servicemembers’ Readjustment Act. It soon became known as the Montgomery GI Bill. Today, the bill continues to help veterans pay for the cost of college. In fact, one of the top reasons why many students choose to enlist in the military is for assistance with their education. So what can the GI Bill offer you?
How it Works
In order to reap the rewards of the GI Bill, a prospective student must first enlist in the military and agree to forfeit $100 per month for 12 months. The student must then spend between two and three years in active duty in any military branch. Upon completion of your service, you will receive $1101 monthly for a maximum of 36 months of education benefits. That comes out to be about $36,000, but can be enhanced with additional programs like the Army College Fund. According to the Army’s website, including the Army College Fund with the GI Bill results in up to $73,836 to help pay for college. There are also benefits available to those who have already served in the military, students involved in the ROTC, and reservists. Check with your local U.S. military recruiter to learn more. In addition, there is the potential to receive college credit for your military service through the American Council on Education.
Does it Help?
The assistance that the GI Bill provides is not going to pay your way through an Ivy League school. In fact, according to the Christian Science Monitor, the average cost of a four-year college in 2005-06 topped $17,000 a year. The Iraq and Afghanistan Veterans of America reports that today’s GI Bill covers less than 70% of the average cost at a public college and less than two years at a typical private college. So if you do choose to enlist, be sure you are aware of what the bill will do, and what it won’t. If your aim is to attend a community or junior college, you will have no problem financing it with the monies you receive from the military. But if you fancy a more expensive four-year institution, you’re going to have to look for financial support elsewhere. Luckily, there are currently over 1,000 scholarships available to the military community.
Climbing the Military Tree
Once you choose to take the military route, you then have to decide what branch do you wish to enlist in. Will it be the Army, Navy, Marines, Air Force, Air National Guard, or Army National Guard? If you are unsure about which would best suit your personality, or which branch offers training in your field of interest, research online at the various military websites. Military.com offers some great information, including the “10 Steps to Joining the Military.” Being in the military can make an impressive addition to your resume as it shows discipline, commitment, and courage. It’s especially helpful if you took on a leadership role or were trained in a high-tech skill.
The Few, the Proud, the Collegiate
Obviously, the military is not for everyone. It takes a particular type of person to commit to a potentially life-threatening occupation. If you are interested, we encourage you to meet with the recruiters, ask all the questions you can, and do some research into the cost of the college you may wish to attend post-service. Also, be on the lookout for some legislative changes to the GI Bill that are currently making their way through Congress; they may dramatically alter the way the program works.
