Veterans: 5 ways to maximize your GI Bill benefits

Under the Post-9/11 version of the GI Bill, you may be eligible for up to 36 months — not necessarily consecutive — of college or career training if you served on active duty after Sept. 10, 2001, and were discharged honorably or with a disability, or are still on active duty.

If you're pursuing a bachelor's or postgraduate degree, it may be advantageous to start at a community college and apply your GI benefits later to pricier tuition, says Timothy Greer, associate professor at the College for Financial Planning.

Keep in mind, though, that while the government will cover your tuition as an in-state student completely for up to 36 months if you attend a public school, it will cover only $21,970.46 per year if you attend a private one.

The VA's GI Bill Comparison tool can tell you the amount of housing allowance you'd get based on your school's location, as well as what you'd get if you took solely online classes.

Earn credits for courses such as business communications and public administration based on your military training and experience.

Aiming to harness GI Bill dollars for revenue, some for-profit colleges "aggressively recruit student veterans," says Derek Fronabarger, director of policy at Student Veterans of America.

For-profit schools tend to have higher tuitions and lower graduation rates compared with in-state public schools, according to Department of Education data.

On top of your GI benefits, you'll likely be eligible for additional federal, state and privately funded financial aid.

If your GI Bill completely covers your education costs, you can use any additional aid dollars for other expenses.