There have been a number of changes that have been happening in the benefit issues for our Armed Forces Servicemembers. Both Congress and the Executive branch have worked to increase the type and the amount of benefits that are available for Servicemembers and Veterans from past service in the military. There has been different changes that have occurred, as recently as 2007, and this has led to a lot of different questions about what is available. Many people have questions about the way that their potential Montgomery GI bill benefits have changes. The different questions deal with what benefits there are and how it affects later attendance at a university or college. Here are some of the more frequently asked questions:
What Type of Different Benefits are available? Besides the MGIB there are a number of different benefits that you can receive as a VA eligible student. You have to choose which one to get, as you cannot collect on more than one type at a time. Some of the other types of Educational VA benefits are: Survivors and Dependents Education Assistance. MGIB Active Duty Education assistance, Educational Pilot assistance program, Educational Assistance Testing Program, Post-Vietnam Era Veteran Educational assistance, and Service connected disabilities educational programs. How Long Does A Veteran Have to Use their Montgomery GI Bill Benefits? For the most part, people have ten years to use their MGIB benefits from the date of separation. Sometimes being called back to active duty service, longer than 90 days consequtively in a row then your clock of ten years resets. The rule is ten years from your last separation of military service of more than 90 days of service. Can I receive Federal Financial Aid and the Montgomery GI Bill at the same time? As a general rule, you can collect both types of assistance because the Montgomery GI bill is not considered financial aid in the classic sense. Any money that Any money that you receive as a MGIB recipient will count as income, however, and will reduce the types and amounts of some other financial aid that you may qualify for.
Are my MGIB benefit taxable? No they are not, they are not subject to state or federal tax. If I quit school can I start my GI Benefits later again? Yes, for the most part you can. If you stop and start, you can restart your Montgomery GI Benefits that you haven?t used.