HMC-FMF-PJ
08-11-2008, 22:23
A new GI Bill was passed in June 2008 but we all know it takes time for changes at the top to filter out to the fleet. It also takes time to untrain all those people stuck in "this is the way we've always done it" mentality and get them to update their work habits.
I recently heard that Recruits are still being asked to pay $1,200 at RTC (Boot Camp) to buy-in to the Montgomery GI Bill (MGIB).
First off, can anyone with RTC contact since July confirm this for me? (staff, recruit, parent)
Secondly, if you are going to RTC soon then I recommend you think long and hard about paying that $1,200. In the past buy-in was a no-brainer obvious thing to do but under the new law it is probably better for most people to avoid the MGIB payment. HOWEVER, each specific person's case is different and I do not know enough details to make a blanket recommendation against buy-in for everyone.
Under the new law, military personnel are not required to buy-in or pay an enrollment fee in order to be entitled to educational benefits under the new program. If you are asked to sign up for payroll deduction or any other payment for MGIB educational payments, I encourage you to ask a lot of questions about the new law and find out exactly what that $1,200 enrollment fee will get you. It is quite possible the staff personnel are acting with the best of intentions under the old program, mistakenly thinking they are helping you when in reality they are accidentally costing you $1,200 you may never get back.
As noted in this thread:
http://www.corpsman.com/forum/showthread.php?t=29027
[] MGIB Refunds: Many veterans may be entitled to refunds of their $1200 MGIB-AD enrollment fee paid at boot camp. This refund will be included in the last monthly stipend payment when a student exhausts their benefits under the new program (Chapter 33). Individuals who do not exhaust entitlement under chapter 33 will not receive a refund of any contributions paid under the old program (MGIB-AD, Chapter 30).
If you never go to college, you will never get your $1,200 back.
Even if you go to college and earn your degree, but do not exhaust all your eductional benefits - - you will never get your $1,200 back.
Think twice and ask a lot of questions if asked to pay $1,200 for MGIB educational benefits. You will probably do much better by signing up for TSP and investing that money in your future. (Just don't waste it on entertainment.)
I recently heard that Recruits are still being asked to pay $1,200 at RTC (Boot Camp) to buy-in to the Montgomery GI Bill (MGIB).
First off, can anyone with RTC contact since July confirm this for me? (staff, recruit, parent)
Secondly, if you are going to RTC soon then I recommend you think long and hard about paying that $1,200. In the past buy-in was a no-brainer obvious thing to do but under the new law it is probably better for most people to avoid the MGIB payment. HOWEVER, each specific person's case is different and I do not know enough details to make a blanket recommendation against buy-in for everyone.
Under the new law, military personnel are not required to buy-in or pay an enrollment fee in order to be entitled to educational benefits under the new program. If you are asked to sign up for payroll deduction or any other payment for MGIB educational payments, I encourage you to ask a lot of questions about the new law and find out exactly what that $1,200 enrollment fee will get you. It is quite possible the staff personnel are acting with the best of intentions under the old program, mistakenly thinking they are helping you when in reality they are accidentally costing you $1,200 you may never get back.
As noted in this thread:
http://www.corpsman.com/forum/showthread.php?t=29027
[] MGIB Refunds: Many veterans may be entitled to refunds of their $1200 MGIB-AD enrollment fee paid at boot camp. This refund will be included in the last monthly stipend payment when a student exhausts their benefits under the new program (Chapter 33). Individuals who do not exhaust entitlement under chapter 33 will not receive a refund of any contributions paid under the old program (MGIB-AD, Chapter 30).
If you never go to college, you will never get your $1,200 back.
Even if you go to college and earn your degree, but do not exhaust all your eductional benefits - - you will never get your $1,200 back.
Think twice and ask a lot of questions if asked to pay $1,200 for MGIB educational benefits. You will probably do much better by signing up for TSP and investing that money in your future. (Just don't waste it on entertainment.)