Millions of military veterans have used the GI Bill through the decades in order to obtain an education and better their future. The GI Bill has seen numerous revisions and updates through the years. Let's take a look at the changes in the latest post 9/11 GI Bill.
One of the biggest changes is that veterans have more options available. Now they can choose from apprentice programs, voluntary schools, technical institutions and even online colleges with distance learning programs. This new change is expected to help veterans deal with unemployment. Experts predict that approximately thirteen thousand veterans would be able to secure employment within a year thanks to voluntary training. These volunteer programs are suitable for veterans who want to secure employment as soon as possible and who are not looking for a job that requires a four year degree.
These new changes will allow veterans to obtain very specific training which should help them to obtain jobs. The government is broadening the options for schooling with the intent of reducing unemployment for veterans; women in particular. Statistics provided by the US Department of Labor show that 16.6 of female veterans are currently unemployed. In order to combat the problem of unemployment, the current administration has introduced Obama's American Job Act which provides a tax credit for any company who hires an unemployed veteran.
Changes have also been made in regards to "break pay". This means that students will not receive benefits between enrollments. Students benefiting from the Montgomery GI Bill have the ability to switch over to the Post 9/11 GI Bill.
Housing stipends used to be only available to students attending traditional 4-year universities and colleges. However, now students enrolled in an online education program will also be able to qualify for benefits. This new stipulation will go into effect as of October of 2011. The Post 9/11 GI Bill allows for a stipend of one thousand dollars per year toward school books. Changes have also been made to cap out tuition for those attending a private university at $ 17,500. As a result, some students who are currently enrolled at a private university may have to pay some of their own way or obtain student loans.
The GI Bill was signed into law in 1944 in order to assist World War II veterans with university and voluntary training. It also helped to provide veterans with access to various loan programs. One of the most significant part of the program was the home loan program which enabled a large number of Americans to purchase a home for the first time.