According to CBO, the GI bill education increase in the law will result in $7.2 billion in additional spending over 10 years. The law also includes over $1 billion increase in housing, burial and disability benefits.

• Boosts the MGIB college education benefit amount by a record 46% over 3 years, increasing the total college benefit for qualified veterans from $24,192 to $35,460.
• The GI Bill is one of the most successful government programs ever implemented, helping to create the modern middle class and serving as the Armed Forces’ top recruiting tool.
• Restores lost MGIB benefits for reservists and National Guard members called up to active duty.
• Increases VA guaranteed home loans from a maximum mortgage of $203,000 to $240,000.
• Increases Specially Adapted Housing grants for severely disabled veterans from $43,000 to $48,000.
• Increases the Automobile and Adaptive Equipment grant for severely disabled veterans.
• Increases burial and funeral expense benefits by 25% and doubles burial plot allowances.
• Makes type II Diabetes a service-connected condition for Vietnam veterans exposed to Agent Orange.
• Adds undiagnosed conditions, such as fybromyalgia, chronic fatigue syndrome and chronic multi-symptom illnesses to list of service-connected conditions for Gulf War veterans.

CBO Fiscal Year Estimated  Benefit Spending Expansion

• 2002: $189 million
• 2003: $432 million
• 2004: $604 million
• 2005: $675 million
• 2006: $741 million
• 2007: $806 million
• 2008: $876 million
• 2009: $919 million
• 2010: $963 million
• 2011: 1,006 million

Link to Full CBO Report