Recently, I was catching up with a fellow USAF flight surgeon who is leaving active duty for the greener pastures of civilian residency. When I shared with him that he would qualify for GI Bill compensation as a resident, he seemed shocked and completely unaware of this fact. This is exactly what I did 3 years ago. Below I relate my experience and some additional info regarding the GI Bill that I hope readers may find helpful.
Added bonus: GI Bill payments are considered a stipend and therefore tax-free!
GI BILL DURING RESIDENCY
I graduated from my residency in Emergency Medicine at the University of Utah in June 2018. I had left active duty after 5 years as a USAF flight surgeon in June 2015. My residency was exactly 36 months long and I was fortunate enough to collect the GI Bill for a commensurate time period. This additional income was hugely helpful as a resident's salary is not particularly impressive.
It is important to begin considering how you will use the GI Bill while still active duty. You may have the option of using either the Montgomery GI Bill (MGIB) or the Post-911 GI Bill.
Montgomery GI Bill
As of writing this (Apr 2019), the MGIB currently awards a monthly payment of $1,994. This "payment rate" automatically adjusts for inflation on the first of October each year. With the buy up, this amount is actually $2,144.
I began receiving approximately $1700/month at the beginning of residency and this slowly climbed up to around a monthly payment of $1900 upon graduation.
Post-911 GI Bill
The Post-9/11 GI Bill provides education benefits for servicemembers who have served on active duty for 90 or more days since Sept. 10, 2001. The Post-9/11 GI Bill can pay your full tuition & fees at school, provide you with a monthly housing allowance while you are going to school, and give you up to $1,000 a year to use for books and supplies.
Since you will be a paid resident and not being charged tuition, if you choose the Post-911 GI Bill the only benefit you will receive is the housing allowance.
Buy Up Program
If using the MGIB, you will definitely want to take advantage of this feature. Essentially, you pay a total of $600 for the 'buy up' benefit and it increases your stipend by $150 for each month you receive benefits. Your ROI is $5400 ($150/mo x 36 mo) – $600 = $4800.
SUMMARY
Here's the step-by-step:
- Determine if you qualify for either or both GI Bills (see above).
- Determine which GI Bill pays the highest stipend for your residency program (location, location, location).
- If the MGIB is your best option, confirm you have paid the $1200 for it and take advantage of the $600 buy-up feature.
- Confirm your residency program is registered with the VA. Each GME institution should have a VA certifying official.
- Enjoy your VA benefits! You've worked hard. At least you'll be well compensated as a resident.