Under the Montgomery GI Bill, military veterans or their family members are given an opportunity to attend college and work toward a higher education. The GI Bill not only pays tuition, but will also pay for books and supplies as well as a living expense. All money paid under the Montgomery GI Bill does not have to be repaid.
Military veterans who opt not to use their benefits under the Montgomery GI Bill can transfer their benefits to their spouse or children. When benefits are transferred, the recipient will receive the same amount of benefits that the military member would have received themselves, according to GIBill.com.
For your dependent to qualify for your GI benefits, you must have been in service for at least 10 years if you are transferring benefits to a child. You are able to transfer 36 months for GI benefits to your child.
Your right to receive GI benefits for yourself or dependents will expire 15 years after the last period of 90 days or more of unactive duty. You can at anytime terminate the benefits you transferred to a dependent.
