I know a lot of people are excited about the Post 9/11 GI Bill that goes into effect on August 1st. But I strongly encourage you to really look at the new pay amounts before you switch to the new bill.
Rob goes to a small, public university in Georgia. His tuition (with fees) is roughly $1900/semester for a full load of more than 12 hours. He has the kicker with his current GI Bill and that amounts to $1,471 per month for every month he is in school. We have to pay tuition out of that payment. The first semester was tough as it took a month or so for it to kick in and we had to come out of pocket for tuition but since then we've been able to save up the monthly payments so that we could pay for it when it was due. So on average, after tuition, we have about $12,000 left every 12 months - which has paid for my MBA program as well as his books.
Under the new plan, the school will be paid directly at the "highest rates" that the VA (in my opinion) has dreamed up. For instance, assuming I am reading this right, the most paid per semester in Georgia (regardless of school or tuition rates) is $630. Now, where they came up with that figure, I have no idea. I can't even find a two year school where rates are that low. In addition, the soldier receives a check each month equal to the BAH of an E-5 with dependents for the school's zip code as well as $1,000 per year for books. In my husband's case, that would be $1,064 per month. In our case, after paying the difference in tuition, we would have approximately $9,900 left every 12 months. That's a $2,100 difference thanks to this new and "improved" plan.
It is my understanding that those already serving or who are already using the current GI Bill have the option to stay with their current plan or enroll in the new plan. The website itself says to be sure to do the calculations to see which plan is best because not all will make more with the new plan. So PLEASE before you enroll in the new plan, do the math and be sure it is to your benefit!
The maximum tuition rates vary widely by state. For instance, Illinois is more than $17,000 while DC's rate is just over $600. Again, makes no sense to me. These are preliminary rates at this point so do check back before you make your decision on whether to switch. You can check the rates here:
http://www.gibill.va.gov/GI_Bill_Info/CH33/Tuition_and_fees.htm
If you do the math for your particular situation, I'd really appreciate it if you could reply or email me. I'm curious to see how many will truly benefit from this new plan.