The Montgomery GI Bill (MGIB) is named after the former Rep. G. V. "Sonny" Montgomery. Rep. Montgomery was known for his bipartisanship and strong advocacy for our men and women in uniform.
I am struck by the fact that nearly 30 percent of those contributing to the MGIB never use their MGIB benefits! Additionally, of the 71 percent of veterans that use their benefits [within the 10 year period], the average person used less than half (16.5months) of their full benefits (36 months)!
If I told you that 29 percent of people contributing $1,200 to a 401K account (like the Federal Thrift Savings Plan (TSP) never saw that money again - you might find it unbelievable. Yet the present underutilization of the MGIB is tantamount to this loss. This represents hundreds of millions of dollars of lost education benefits. We can do better.
Participating servicemembers need to remember, when it comes to the GI Bill - USE it or LOSE it!
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