| New GI Bill
Yesterday the president signed the bill providing money for the war until the middle of 2008. What was also tucked neatly in the bill by democrats was the Jim Webb crafted new GI Bill and it is an amazing expansion of the benefit.
If you served for 90 consecutive days after 9/11/2001 you qualify. to get 100 % you must have 3 years service after 9/11. I retired 26 months after 9/11 so I get 80%.
The benefit is boosted to cover all tuition.
You get $1000 a year in books and fee allowance.
If you live on campus or attend school on campus and live nearby you get BAQ at the E-5 rate for that location.
You also get up to $1000 a month in cash.
The limit is 36 months but you have 15 years now to use it.
If you are a VEAP era or MGIB you qualify
If you are paying to join the MGIB you can stop paying.
If you served after 1985 you automatically qualify IF you served after 9/11.
This is the kicker. If you have it and have not used it all, you can transfer it to a spouse or child (tuition only).
So since I qualify and have until 2018 to use it, Boy graduates HS in 2014, and it is transferable, Jim Webb and the democrats just paid 80% of his first 3 years of college for me. |