Earn Extra Money with the GI Bill

One of the best benefits that many military veterans have is the GI Bill. Unfortunately, many veterans don’t take advantage of this benefit. There are many reasons people don’t take advantage of the GI Bill – not enough time to go to school, no desire for more education, or no need. But this is costing them a lot of money! Many people aren’t aware that they can make money by using the GI Bill!

How to Make Money with the GI Bill

The GI Bill pays veterans based on how many hours of classes they are taking, based on a prorated scale of full-time, ¾ time, ½ time, and ¼ time. (Rates for Active duty military members are capped at tuition costs). Check out the current MGIB rates for more info.

GI payments are intended to be used for school related costs, but there is no stipulation on how the money must be used. In fact, a check is written directly to the veteran to be used how and when the veteran wants to use it.

This means that is your tuition costs less than the full time GI Bill rates, you can keep the difference. This may be hard to find unless you are going to a Community College or State School. But there are other ways you can make money with the GI Bill.

If your tuition costs are covered, you can still receive the GI Bill

If your tuition is covered by an employer’s tuition assistance program or via a scholarship, you can still receive full GI Bill benefits! I have a friend who is currently taking advantage of this benefit and is earning over $1,300 per month while going to school. His employer is covering the cost of his tuition, and he is earning his full GI Bill benefits. This is money in his pocket! The same thing goes for scholarships. If you have a full-ride scholarship, the GI Bill is money in your pocket!





Note: Sometimes employers limit educational benefits to those who use the GI Bill. In this case, you would need to choose between employer tuition assistance and the GI Bill.

Search GI Bill Schools: You can use this tool to Search GI Bill Schools to help find available programs where you can use your GI Bill.

More GI Bill and Scholarship Information

Find more information about the GI Bill, and check out these GI Bill programs.




Print Friendly
Date published: June 17, 2008. Last updated: October 24, 2011.

Article by

Ryan Guina is the founder and editor of this site. He is a writer, small business owner, and entrepreneur. He served over 6 years in the USAF and also writes about money management, small business, and career topics at Cash Money Life. You can also see his profile on Google

Comments

  1. Not only that, but take a good hard look at the army reserve (army in particular, sorry other branches). The army reserve is the only service where you can take advantage of 100% tuition assistance, and pull full GI bill benefits. Not only that, but they offer many other benefits. Tricare is available for as cheap as $81/month, and $10.51/month for dental benefits. Some other benefits I’ve taken advantage of: Student loan repayment programs, commissary/px privileges, free legal consultations, free tax preparation, paid orders to attend civilian professional conferences and personal development courses, CONUS space-a travel, free software (I got the latest copy of Microsoft Office professional for $20 s/h, and Rosetta Stone language software for free!), counseling and consulting services, retirement package, and probably more that I haven’t discovered.

    Note: I am not a recruiter, I swear. I don’t always like going to drill, and I hate giving up one of my weekends sometimes. The monthly pay is not anything stupendous either. Not only that, but there is not a lot of chance to get a guarantee that you won’t get deployed (you can get such a guarantee, but only for the first 2 years of service or so). But, I consider all the benefits worth it, not to mention the intangible benefits.

    Like I said, I’m not a recruiter, but I can tell you more about it from the point of view of somebody that’s not trying to meet some recruiting quota. I will be completely honest, I swear. I just find it of good benefit for me, and it might work out for others too. If you’re interested, post another comment, and I’m sure I or some other person could tell you the unvarnished truth.

  2. Ryan Delany says:

    The GI Bill is awesome! It can be a little bit of a pain to set-up if your school doesn’t have a lot of vets (you might have to do a little digging to find out who to submit the forms to) but it is well worth it. Heck, its free money. How can you afford not to get it? Even if the GI Bill covers your tuition you should consider getting low cost student loans to pay for your tuition and then you can use the GI Bill to invest!

  3. Jarhead says:

    Even as the GI Bill is now it is a great tool to get college done after you get out. Hopefully soon the new post 9/11 GI Bill will be signed into law and then there will be no reason for seperating members of the armed forces to not use it as there will not only be an increase in the amount for school but also a living and book stipend thrown in.

  4. The New GI Bill will lead to a huge benefit for my studies… I only wish it could start a year sooner, but at least we know it is coming now. It’s nice to have some sort of “college annuity” from Uncle Sam for higher education, and it definitely makes a big difference for the future.

Speak Your Mind

*