The Montgomery GI Bill
Prior to August 9, 2009, active duty service members paid $1200 ($100 per month) during the first year of service, to enroll in the Montgomery GI Bill (MGIB). The MGIB pays a monthly rate, which is determined by your student status (full time, half time, or part time) and your duty status, for up to 36 months. Full time status means you are taking a minimum of 12 credits per semester. For those still on active duty, the MGIB will only cover the actual cost of tuition and related expenses. If you are not active duty, you are paid a flat monthly rate and are responsible for paying tuition, books, fees etc. from that monthly payment.
The Post- 9/11 GI Bill
As of August 9, 2009, the MGIB was no longer offered to new service members, and instead, they were eligible for the Post ‚Äì 9/11 GI Bill. The Post- 9/11 GI Bill pays 100% of the cost of tuition and fees at the in-state rate, direct to your school. Additionally, you receive up to ¬†$1,000 per year for books. For those who are no longer on active duty, you will also receive a monthly BAH allowance equal to that of an E5 with dependents, based your school‚Äôs zip code.
If you currently have the MGIB, you can easily switch to the Post ‚Äì 9/11 GI Bill, but we suggest you take a look at a comparison of the two before making any changes.
For a more thorough explanation of the benefits available to you (and your dependents should you choose to transfer benefits), the best source for information is the U.S. Department of Veteran Affairs.