GI Bill Time Limit to be Eliminated?

Senator Maria Cantwell (D-WA) recently introduced the GI Bill For Life Act, which would eliminate the expiration date for veterans to use their Montgomery GI Bill (MGIB) benefits. A similar piece of legislation is set to be proposed to the House by House Armed Services Committee member Rep. Rick Larsen (D-WA). Currently, eligible veterans have 10 years from their separation date to use their MGIB benefits – or they expire.

According to the Department of Veterans Affairs, about 30% of all eligible veterans do not use any of their GI Bill benefits before the 10 year expiration date. A great portion of those who use some of their MGIB benefits are not able to use their entire benefits before they expire.

I think this piece of legislation would be heartily embraced by veterans everywhere. Military members pay $1200 to buy into the GI Bill, then they have a time limit in which to use the benefits they paid for.

The original intent of the GI Bill was to provide military veterans a means to obtain an education outside of their military training. While it is still possible to use your GI Bill benefits, it is much more difficult now for many people to go to school directly after separating from the military. Many people have bills to pay and families to feed and full-time school is just not feasible for many. Removing the expiration date from benefits will allow many people to provide for themselves and their families, then go to school when it is either better or easier for them to do so.

This could just be more political posturing, but I think it would be nice to see this go through.





Source: Military.com – Congress Seeks to Eliminate GI Bill Time Limit.




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Date published: November 13, 2007. Last updated: January 13, 2008.

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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. Michael Morello says:

    I feel that the G.I. bill education benefit should be a lifetime item . This is especially in light of all vetereans who served that are now getting laid off because of the weak economy . I do agree that there should be a cap on the dollar amount that is paid out over the lifetime of the veteran .

  2. With the staggering number of Vets from Nam to present day out of work, ( this number exceeds well over 1,000,000 veterans )
    We offered our lives and limbs to our country the least they can do is offer us a chance to educate ourselves WITHOUT strings attached. We as US Military some volunteer, some drafted did not say sure I’ll serve but there are stipulations as to what we will do. With the economic turn down and lost jobs the veteran community was hard hit! Multiple jobs were unnecessarily lost due to that’s all that vet knew what to do. through better education or retraining thru education these vets would not be suffering. I know of several vets that have lost their jobs, their homes,their families and are living on the street because they do not wish to lose what’s left of their pride by asking for public assistance . All we as vets are asking is for a chance to better ourselves through education, to be able to better provide for ourselves,and our families NOT A HAND OUT , BUT A HAND UP !!!

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