Can I Change My Application from the New GI Bill to the Old One?

Maybe, but you’ll have to hurry.

Once you change over from the Montgomery GI Bill to the new Post 9/11 GI Bill, you will be unable to ever change back. Once your application goes through, you are assumed to have made the election to use the new GI Bill, so you will be barred from switching back to the old one. So, if you want to change your mind, you’ll have to get hold of the VA and get your application withdrawn before it is processed. They may be able to do that, or, depending on how far your application has reached, they may not.

The VA often has delays in processing applications, but most likely, you will be stuck with the new GI Bill from now on.