One of the biggest educational benefit challenges facing transitioning veterans is time. Under the current law governing the post-9/11 GI Bill, veterans have 15 years to use or lose their benefits—and many transitioning vets are simply not ready to go to college when they separate from active service. Others only use a portion of their benefits to gain a certificate or other industry-related qualifications when they transition, only to have their benefits lapse when they seek to make a career change requiring additional or more advanced education.
One of the major enhancements of the Post 9/11 GI Bill is the ability for service members to transfer all or a portion of their educational benefit to their immediate family members. In a previous post, we discussed whether or not a service member should transfer their GI Bill benefits.
In this post, we take it from the position that you have made the choice to transfer your benefits — now what?
On May 16, 2016, Senate Bill S.2921 was introduced by members of the United States Senate Committee on Veterans’ Affairs. The bill, The Veterans First Act, is a truly bipartisan omnibus package designed to bring much needed reform to the Department of Veterans’ Affairs.
One of the key provisions of the bill, deals with improving and enhancing veteran educational benefits for veterans and their dependents. It proposes, among other things, the following enhancements:
For many military-connected students, one of the main benefits of the Post-9/11 GI Bill is having the ability to transfer a portion or all of their educational benefits to their dependent family members. Certainly, being able to give this benefit to one’s children and provide for their college education in the future is a good thing, especially with rising tuition costs. The question that arises is should you?