"If you look at the impact of the Montgomery GI Bill
broadly, it dramatically changed our country in terms of its economic impact and the average educational attainment level of citizens," says Dr.
While the new benefits are comparable in nature to the World War II era GI Bill benefits, (54) a simple comparison illustrates the extent to which the new benefits can be vastly more generous than the Montgomery GI Bill
's flat-rate benefits.
* The Montgomery GI Bill
provides educational assistance for veterans completing: three years on active duty; two years on active duty if the person signed up for two years; or two years on active duty and four years in the Reserve.
A college education may be beyond value, but the value of Montgomery GI Bill
benefits is easy to quantify.
Recruiters lie about college benefits, often failing to tell recruits that they must pay $1,200 during their first year in the military to qualify for the Montgomery GI Bill
. Two-thirds of participants who pay $1,200 never receive a dime in return.
The Montgomery GI Bill
provides a monthly stipend to pay postsecondary education expenses for veterans and eligible service members.
Military service members are now eligible for a big increase in their Montgomery GI Bill
Finally, S.1402--the Veterans and Dependents Millennium Education Act--makes a number of changes to the veterans' health-care system, expands educational benefits under the Montgomery GI Bill
, and boosts Survivors' and Dependents' Educational Assistance benefits.
While training under the program, veterans will receive 12 monthly payments equivalent to the pay rate under the Montgomery GI Bill
Active Duty program.
The Veterans Retaining Assistance Program provides up to one year of Montgomery GI Bill
benefits to unemployed veterans ages 35 to 60 who sign up for vocational training classes aimed at helping them find jobs in high-demand fields.
The current housing stipend is $1,473 per month, the same rate as the Montgomery GI Bill