Which GI Bill Will Pay Me the Most to Get My MBA?

Brandon, you will have to run the numbers and see which one will end up paying you more; I don’t know from your question how much your tuition is, except it is over the $250 per credit hour that Tuition Assistance (TA) pays.

The program to pay the difference is called Tuition Top-up. Here is how it works.  The VA will pay the difference up to what the GI Bill would pay between the cost of your tuition and what TA pays. Using Top-Up does reduce your GI Bill benefits.

Under the Montgomery GI Bill, the monthly payment is $1,368 per month or $5,472 per semester. For each month the VA has to pay $1,368, they reduce your GI Bill entitlement by one month. The problem right now is you are not eligible to use Top-Up until you have at least two years of active duty time.

Under the Post 9/11 GI Bill, you only need 90 days to qualify at the minimum amount of 40%. If you have only served one year (and IADT time doesn’t count), you are probably at the 50% (6 months, but less than 12) rate. The Post 9/11 GI Bill would pay up to 50% of the maximum in-state tuition/fees for the state where your university’s office is located.  Because you are taking only an online course and on active duty, you would not qualify for the housing allowance and only 50% of the $1,000 per year book stipend.

One other option to ask about is the Yellow Ribbon Program.  If your school has a Yellow Ribbon Agreement with the VA, your school could pick up to 50% of the tuition amount not covered by the VA and the VA would pay an equal amount.  This could leave you with very little out-of-pocket left to pay.  What I don’t know is if you can use the Yellow Ribbon Program in conjunction with both TA and Tuition Top-Up.  You would have to ask the VA about that.

Run some cost scenarios Brandon, before making your decision. Generally speaking, most service-members and  veterans taking only online programs come out better using the Montgomery GI Bill.