I enlisted in 2005 for the Montgomery GI Bill and the Army College Fund. If I elect to switch my benefits to the Post 9/11 GI Bill, do I lose Army College Fund benefits?
The Post 9/11 GI Bill is based on your length of service, paying for undergraduate tuition and fees, not to exceed the most expensive in-state public institution of higher education; it also pays a monthly housing allowance to a military E-5 with dependents in the same ZIP Code as your school. The GI Bill covers books and supplies with a stipend of up to $1,000 per year.
The Department of Veteran Affairs says that you may elect to switch Р on a one-time basis only Р from the Montgomery GI Bill to the Post 9/11 GI Bill. So what you need to do is some research. Determine what institution you will be attending, find out what the cost of tuition is, and how much monthly allowance you would receive under each bill. You cannot receive the Army College Fund when using the Post 9/11 GI Bill benefit. It may be in your best interest to stay with the Montgomery GI Bill benefit, along with your college fund.