Vets: Choose Your GI Bill Carefully

In many cases, the new GI bill, called the 2008 Post-9/11 Veterans Educational Assistance Act, offers a better deal than its predecessor, the Montgomery GI bill.

But not always.

Post 9/11 vets attending school full time who need tuition and housing assistance will probably reap richer benefits under the new bill, especially if the school they attend provides extra financial assistance under the Veterans Affairs Department's Yellow Ribbon program.

But post 9/11 vets still on active duty attending school at night or taking correspondence courses at non-Yellow Ribbon program schools could make out better under the Montgomery bill.

That's what an Iraq war vet buddy of mine still on active duty discovered to his horror this week. He signed up for the post 9/11 bill, only to learn later that he would receive about half of the $1,300-a-month payment he would have received under the Montgomery bill.

This vet tried to change his benefits to the Montgomery bill but found that VA had processed his application for benefits in just two weeks - proving that in this case, the new and improved GI bill benefits processing system is indeed working at the advertised pace.

At the moment, it seems my pal has little hope, because VA told him he had made an "irrevocable" election of benefits, even though he won't receive a check until August.

But if VA wants to make benefits irrevocable, I think it needs to do a better job of explaining the differences in benefits under the two bills. Yes, VA does have a GI bill Web site, which, I guess, if one clicks enough links, a veteran can eventually determine which bill offers the best package of benefits, depending on individual circumstances.

I suggest VA develop and quickly post a chart on the site that offers a side-by-side comparison of the benefits available under both bills.

Until then, my buddy suggests veterans consult Military.com which offers a nifty online guide for the two bills.