Obama: GI Bill offers educational currency

WASHINGTON, Aug. 3 (UPI) -- The benefits included in the new GI bill are critical for a 21st century education, U.S. President Barack Obama said Monday.

"The first GI Bill helped build a post-war economy," Obama said in observance of the enactment of the Post 9/11 GI Bill. "And that's why the post- 9/11 G.I. Bill must give today's veterans the skills and training they need to fill the jobs of tomorrow."

Speaking to an audience of about 350 people at George Mason University in Fairfax, Va., Obama said, "Education is the currency that can purchase success in the 21st century. And this is the opportunity that our troops have earned."

The law, which went into effect Saturday, gives military personnel 36 months of educational benefits under certain circumstances, among other things. Also, service members can use or transfer as much of their educational benefits as they like, the White House said in a fact sheet.

Reservists and National Guard members are included in the new legislation "because they have carried out unprecedented deployments in Afghanistan and Iraq," Obama said. "We are including the military families who have sacrificed so much by allowing the transfer of unused benefits to family members. And we are including those who pay the ultimate price by making this benefit available to the children of those who lost their life in service to their country."

"This new GI Bill clearly demonstrates the nation's respect and appreciation for your service and your sacrifice," VA Secretary Eric Shinseki said. "It is also our commitment to them that they are our best hope for future leadership in this country."