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The term GI Bill refers to any Department of Veterans Affairs education benefit earned by members of Active Duty, Selected Reserve and National Guard Armed Forces and their families. The benefit is designed to help service members and eligible veterans cover the costs associated with getting an education or training.
Besides, what does the GI Bill stand for?
The term G.I. has been used as an initialism of "Government Issue", "General Issue", or "Ground Infantry", but it originally referred to "galvanized iron", as used by the logistics services of the United States Armed Forces.
Similarly one may ask, why is it called the GI Bill?
Officially the Servicemen's Readjustment Act of 1944, the G.I. Bill was created to help veterans of World War II. It established hospitals, made low-interest mortgages available and granted stipends covering tuition and expenses for veterans attending college or trade schools.
It pays tuition and fees up to the resident rate for 36 months at public schools; if attending a private or foreign school, it can pay up to $21,085.89 per year. Regardless if public or private, veteran students also get a housing allowance averaging $1,300 per month and up to $1,000 per year for books.