Help with understanding military benefits for college

I've been hearing about how joining the military can apparently pay for college? Could someone explain how this works? And are there any caveats I should know about?

Sure, happy to explain. The U.S military offers several education benefit programs which are designed to help service members pay for college.

One of the most well-known is the Post-9/11 GI Bill®. This benefit provides 36 months of full tuition coverage for any public school in your resident state, along with a housing allowance and stipends for books and supplies. If you choose a private or out-of-state school, it can pay for up to a certain annual maximum amount.

To be eligible, you usually need to have served at least 90 days of active duty service after Sept. 10, 2001, or have served at least 30 continuous days and been discharged with a service-related injury. The benefit level you receive depends on the length of your service.

Another major benefit program is the Montgomery GI Bill®. This program comes in two forms: the Montgomery GI Bill® Active Duty (MGIB-AD) for active-duty members and the Montgomery GI Bill® Selected Reserve (MGIB-SR) for reservists. Both pay a monthly stipend directly to the service member, who can use it for tuition, fees, books, and other education-related expenses.

Aside from these, there's also the Tuition Assistance (TA) program, which provides financial assistance for courses taken during off-duty hours, and the College Fund, also known as the "kicker," which provides additional money for education and training.

But do note that these benefits aren't automatic. You have to “pay into” some benefits to be able to take advantage of them later. For example, to get the Montgomery GI Bill®, you usually have to make $1,200 in contributions during your first year of service.

Also, while these benefits significant, they might not cover all education costs. For instance, the living stipend provided by the Post-9/11 GI Bill® is average for the area and may not fully cover your housing costs. Also, keep in mind that using military education benefits could mean a significant commitment of service. Make sure you fully understand the terms before making any decisions.

Finally, while the military can be a great way to finance your education, it’s a serious commitment and should not be taken lightly. It's critical to weigh all your options and consider your own comfort with a military lifestyle before determining if this is the right path for you.