How to Pay for School When You Run out of GI Bill Benefits The GI Bill is one of the most valuable benefits veterans have available to them when the separate from the military. The GI Bill can go a long way toward helping veterans earn their degree, and with that, the opportunity to increase your income potential. But the GI Bill doesn't always offer enough benefits to complete a college degree. The high cost of college can be a contributing factor. But that isn't the only reason, especially for veterans who are eligible for the Post-9/11 GI Bill, which covers tuition up to the cost of the most expensive state school. The biggest limitation with the GI Bill is the amount of benefits, which are capped at 36 months. It is possible to complete a college degree before you run out of GI Bill benefits, but sometimes it can be incredibly difficult, especially for those working on more advanced degrees. Before we start: there are two primary versions of the GI Bill available to active duty veterans and some Guard/Reserve members: the Montgomery GI Bill (MGIB) and the Post-9/11 GI Bill , or GI Bill 2.0. (Some Guard and Reserve members are eligible for these programs based on their service record, while other Guard and Reserve members may be eligible for different GI Bill programs). It's important to note the difference in these benefits to understand how to use them to your advantage. The Montgomery GI Bill offers veterans