Many of the non-traditional students attending Old Dominion University are military veterans using their Montgomery G.I. Bill to attend college. Life is about to get a little easier for many of these students but not all of them.
On August 1, 2009 many of these veterans and current servicemembers will receive many new and revised educational benefits. These benefits go far beyond just helping to pay tuition. The package will pay 100% of the tuition, give the students a monthly housing stipened plus a yearly stipened for books and supplies. However, not everyone will qualify for full benefits.
The housing stipened is the equvalent of E-5 Basic Allowance for Housing for the geographical location the university is in. For Norfolk, that would be $1410 a month. Students who are only taking online classes, or another form of distance learning, may not be eligible for this stipened. Those who are still on active duty will not receive this benefit as they are still receiving military pay which will already include housing allowance. Also, students who are half-time or less will not receive the housing stipened.
The stipened for books and supplies is a maximum of $1,000 per year. The students will receive this benefit in incraments at the beginning of each semester in which they’re enrolled. The payment will be either a quarter or half of the annual $1,000 cap bepending on how the academic year is divided – quarter or semester terms.
The amount of tuition and stipeneds paid will also depend on the amount of active-duty service the veteran had past Spetember 11, 2001. Anyone with 36 or more months of service will receive 100% of the available benefits. Those with 30 or more consecutive days of service who received a disability related discharge will also receive 100% of the available benefits.
The benefit drops by 10% per six months. For example; someone with 30 months of active service will receive 90% and someone with 24 months of active service will receive 80%. The formula continues to 40% of total benefits for those with 90 or more days of total active service post Sept. 11.
There are other requirnments the once servicemember must meet as well. S/he must have been honorably discharged from the armed forces, retired, received a hardship discharge, transferred to the reserves, or still be on active duty.
The previous version of the G.I. Bill expired 10 years after seperation from active duty. This version will not expire for 15 years after discharge from active duty. This gives veterans more time to go to school or to pass the benefit on to their children or spouse.
Those servicemembers who served a minimum of six years in the Armed Forces and who agree to seve an additional four years, may transfer any unused portion of their G.I. Bill to their children or spouse. There is a catch, the Department of Defense maintains the right to impose additional requirnments and may limit the number of transferable months to 18. The Department of Defense has not yet finalized this portion of the bill.
While most students will fair better under the Post 9/11 G.I. Bill, some may wish to stay under the Montgomery G.I. Bill. The Post 9/11 version places a cap on the amount of tuition paid each semester. This cap is calculated based on the average tuition cost for the individual state. Those who are working on a post-graduate degree may find that the tuition assistance just doesn’t cut it. Also, those enrolled in an online university will not receive the housing stipened and witll, therefore, end up loosing money each month.
There are many students who are also tapping multiple resource to fund their college education, using loans, grants and scholorships. These students may find that as their G.I. Bill increases their eligibility for these additional resources decreases. In the long run, they could also end up loosing money each month.
Veterans aren’t required to make the transition from the Montgomery G.I. Bill to the Post 9/11 version. Each student should critically analyze this benefit and take a good look at their individual situation and what effect this willhave on their individual ability to continue their education.
No comments:
Post a Comment