Wednesday, March 11, 2009

Why you shouldnt switch G.I bills

The post 9/11 G.I bill also known as the Webb G.I bill will roll out in august of this year and has some enhanced benefits. The first benefit is that the new G.I bill will cover tuition at state colleges and still pay the individual the basic Housing Allowance at the rate of an E-5. This is a wonderful benefit however if you have the old G.I bill and your going to online classes or your living at home it may not behoove you to switch and heres why.

Let’s say a soldier just got out and wants to go to community college for two years first and that soldier hypothetically lives in Utica N.Y. If the soldier waits until August to attend college using the new G.I Bill he would receive a BAH of just over $800 as the table below based upon the government BAH rates illustrates.

If however the soldier used the older G.I bill and was attending full time and used the old G.I bill they would receive $1073 however they would have to pay tuition. Although most states school waive tuition for veterans so they would theoretically receive more money.

Veterans who are making the decision to stay with the old G.I bill or switch to the new G.I bill should conduct their own research to make an informed decision as to which program benefits them the most. Here is a link to the most current and up to date information regarding the two programs.

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