New G.I. Bill 2008 is Good News for U.S. Vets
On July 31, 2008, President Bush signed the updated GI Bill — known as the GI Bill 2008 — into law. This is great news for vets who want to get a college education!
And even more good news, folks–your new college backpacks will weigh less!
The original GI Bill was passed in 1944, and provided funding for college or vocational education (and other kinds of financial assistance) to the many soldiers who were returning from World War II. By giving vets a leg up financially, this helped spark the strong economy the U.S. enjoyed after World War II — while at the same time rewarding the young men and women who made the sacrifice of fighting for our country.
Unfortunately, the GI Bill hasn’t kept up with the price of an education. Until recently, the $40,000 received by vets over a four year period paid for only an average of 60 percent of the cost of a state school education.
The new GI Bill offers the following benefits:
- Pays for the full price of tuition at the beginning of the year, with a maximum tuition benefit set at the cost of the most expensive public school in the country
- $1000 provided annually for books and supplies
- Monthly living expenses paid (the amount of which is based on a formula that varies by the ZIP code of the school and the military’s Basic Allowance for Housing)
- Funding provided to reservists based on months of service; at 36 months of service, reservists get full benefits
- Vets get up to 15 years to use these benefits
I can’t think of a more patriotic way to honor the people who served our country — especially considering the sacrifices we’ve asked of our military over the last seven years. Hooray!