The Montgomery GI Bill we know today was originally called the Servicemen’s Readjustment Act of 1944. The Act was created during the Roosevelt Administration to provide education or vocational training for returning World War II veterans (which were commonly referred to as GIs). One of the main goals for the Bill was to help prevent a repeat of the Great Depression.
The Act also provided GIs with one year of unemployment compensation, and made different types of loans for returning veterans to buy homes and start businesses. By1956 the GI Bill came to an end. Since its inception more than 7 million WWII veterans participated in an education or training program, and over 2 million veterans benefitted from home loans backed by the Veterans’ Administration (VA). There are several other provisions as a part of the Bill, but the main focus was on education and affordable loans. The original Bill lay dormant for close to three decades before its resurrection in 1984, when the GI Bill was revamped as the Montgomery GI Bill.
The Montgomery GI Bill was created by former Mississippi Congressman, Gillespie V. “Sonny” Montgomery and is now commonly known as the MGIB. One of the updates to the Bill called for servicemembers to pay $100 a month out of their paycheck for 12 months. The money was and still is pooled in a government fund that goes toward servicemembers tuition. Interestingly enough, not nearly as many servicemembers utilize the funding as those who contribute.
Military.com considers the MGIB as the centerpiece of military education benefits. To summarize, the education benefits of the Montgomery GI Bill are worth nearly $40,000 for active duty servicemembers and veterans. The Active Duty (AD) MGIB works in a fairly simple way:
In order to receive the maximum ADMGIB tuition benefit of $47, 556, the servicemember needs to have performed the following:
In order to receive the smaller ADMGIB tuition benefit of $38,628, the servicemember needs to have performed the following:
Here is an example of how the Montgomery GI Bill can give active duty and veterans over $47,500 (tax free) that can be used for tuition, books, fees, and living expenses while they earn their degree, certification or attend trade school.
The following table shows how much the servicemember can get from the VA each month while they earn their college degree:
|If you go to school:||Each month you’ll get:|
|Full time (Usually 12 or more Credits)||$1,368|
|3/4 time (Usually 9-12 Credits)||$1026|
|1/2 time (Usually 4-9 Credits)||$684|
|1/4 time or less (Usually 3 or less Credits)||$342|
*Information provided by Your Military Education Benefits Handbook from Military.com
Florida Tech is a military-friendly and U.S. News & World Report-ranked Best National University. Throughout the years, Florida Tech has stood by its servicemember students and their family members by providing benefits such as:
For more information on how you can apply the Montgomery GI Bill to your online education from world-renowned Florida Tech, please check with your enrollment adviser or click here to request more information about your military education benefits.
TIP: If you are on active-duty, be sure to contact your local Education Services or Navy College office for assistance before using your GI Bill. There may be better options available for you to utilize before transitioning out of the service. There is also a wealth of information located on the United States Department of Veterans Affairs (VA) website at http://www.gibill.va.gov.