Signed into law on June 22, 1944, The Servicemen’s Readjustment Act, also know as the
GI Bill, made billions of dollars available to veterans for education and training. Returning World War II veterans were the first to take advantage of GI Bill benefits, making up 49% of enrolled college students in 1947. The GI Bill also made it possible for 14.5 billion dollars to be allocated for various educational programs to aid veterans returning to the workforce.
Use your GI Bill benefits to get money for school!
If you would like to take advantage of your Veteran GI Bill benefits, we can help. Get prequalified for GI Bill benefits and receive money to go to school. Simply start the short form below, and we will match you with GI Bill certified schools that match your needs and educational goals.
In addition to education and training, the GI Bill also provided home and farm loans, supported by the VA. The Montgomery GI Bill allows individuals up to 36 months of educational benefits, and participants can receive over $36,000 in tuition and assistance. The purpose of The Montgomery GI Bill (MGIB) is:
- To help veterans readjust to civilian life
- To give tuition assistance for college or trade school to those who cannot otherwise afford it
- To restore education and vocational opportunities lost because of active military duty
- To aid and encourage the All-Volunteer Force program of the Armed Forces
- To aid in retentions of personnel in the Armed Forces
- To aid the nation as a whole through the development of a more highly educated and skilled work force
The GI Bill benefits, similar to the
VA mortgage benefits, are not solely limited to veterans. They are also extended to spouses and children of veterans. The Survivors’ and Dependents’ Educational Assistance Program (DEA) of the GI Bill provides aid to children and spouses of veterans who:
- Are permanently and totally disabled because of a service related issue, or
- Have been listed as missing in action for more than 90 days, or
- Were captured in the line of duty, or
- Are being held by a hostile force or foreign government, or
- Died while on active duty or as a result of a service related issue
The DEA allows children between the ages of 18 and 26, 8 years to take advantage of these benefits. Spouses are allowed 10 years to claim the DEA benefits.
The GI Bill has undergone many changes since 1944, which has allowed the GI Bill to suite the individual needs of veterans through the years. Currently, MGIB is available to veterans who enlisted and entered active duty after June 30, 1985 and, at this time, MGIB benefits represent 78 percent of the total VA educational assistance funds. MGIB is available to service members and veterans that
- Were honorably discharged
- Have met their basic service requirement
- Have received a high school diploma or its equivalent,
- Have completed a minimum of two years of continuous active duty
This version of the MGIB is a contributory program, which means that to participate the individual’s service pay is automatically reduced by $100 per month for 12 months. The government then matches the money, and gives $2 for every $1 the enlisted individual earns in this program.
The MGIB-SR is another type of the GI Bill, geared towards providing assistance to members of the Selected Reserve, including National Guard units. Eligible reservists are entitled to educational benefits of $208.93 a month, and many states are now offering their own local tuition assistance programs in addition to those offered by the MGIB-SR. Generally, to be eligible, a reservist must:
- Have accepted a 6 year reserve obligation after July 1, 1985
- Have completed high school or its equivalent
- Have completed Initial Active Duty for Training (IADT), and
- Continue to satisfactorily participate in required Selective Reserve training
To find out if you qualify for a VA loan, please complete our short
online form. A VA Loan Specialist will help you with the lending process.
