If you are considering joining the military, you have more than likely heard about the GI Bill. Unfortunately the GI Bill is one of the most misunderstood and under used educational benefits military have. What makes the GI Bill misunderstood is the fact that it seems very confusing and difficult use.

Fortunately the GI Bill is much simpler than most people believe, and as you read on you will see what we mean.

Quick GI Bill Overview
The GI Bill is an education benefit available to ALL enlisted servicemembers and many officers. When you enlist in the military you are given the opportunity to turn down the GI Bill -- a mistake you can easily avoid. If you choose to remain enrolled in the GI Bill you will have $100 a month taken from your pay for 12 months. This means that you will pay a total of $1,200 into an account with the Department of Veteran Affairs (VA).

Note: It is important to note that this $1,200 investment into your future is non-refundable.

This $1,200 investment will end up being worth more than $37,000* in benefits paid, in most cases, directly to you to help pay your expenses while you go to school.

* The actual value of your benefit increases every year based on the rate of inflation.

On top of that you can start using your GI Bill as soon as 2 years after you enlist-- that's right -- you can use this benefit while you are still on active duty or serving in the reserves.

Here's how the Montgomery GI Bill Works
Currently a qualified GI Bill participant gets $37,224 in total benefits. Your actual benefits may be higher if you sign up for the Army, Navy or Marine Corps College Funds. This sum is reached by multiplying the current FY maximum benefit ($1034) by 36 (the number of portions or months in your account). Don't let the term "months" confuse you -- months only correlate with the calendar for full-time academic students.

If you qualify you may also be eligible to to receive the Army, Navy or Marine Corps College Fund, otherwise known as a GI Bill Kicker. Click here to learn more about this additional education benefit. Be sure to ask your recruiter about this benefit.

Here's how it works while you are on active duty:

If you are currently on active duty the VA will pay up to, but not to exceed the cost of your education tuition and fees.

Example: If you are a full-time student (usually 12 units) and your tuition is $6000 (or more) for a semester, you would receive up to the full $1034 per month from the VA. However, if your tuition costs are only $3000 for the semester, you would receive approximately $500 per month.

Here's how it works once you are a veteran:

If you have successfully completed your military service and are a full-time student (as defined by your school), VA will pay you the full $1034 per month regardless of the tuition costs.

Example: If you are a full time student and your tuition cost is $100 you would still receive the full $1034 per month while enrolled in school and taking a full load.

What's next?

If you are interested in learning more about how military service can help you earn college credit and education benefits, visit the Military.com Education Center or contact a military recruiter near you.