Obama Speaks on New GI Bill Aug. 3

This was the bill that John McCain opposed during the campaign. He argued it was incentive to get out of the service. I'd say it's incentive to go into the military and a deserved payment. After all, there aren't many jobs you sign up for knowing that you could be killed. Sen. Jim Webb wrote the bill. Obama said 8 million people were educated under the original G.I. bill:

The maximum benefit under the law rolled out Saturday will allow every eligible veteran, serviceman and woman, Reservist and National Guard member to attend a public college or university for free for four years. They are also eligible for a monthly housing stipend and up to $1,000 a year for books.

Those who attend a private institution or graduate school can receive financial assistance up to the cost of a public college in the state. About 1,100 schools are offering additional scholarships matched by the VA. MSNBC

Details of the GI bill.