Today President Bush signed a new bill into law that boosts GI Bill college benefits.

The Associated Press lists the benefits outlined in the bill:

$63 billion over 10 years for increased college aid for military service members and veterans who served after Sept. 11, 2001. The value of the benefit is more than doubled _from $40,000 to $90,000, enough to cover a full four-year college education in most cases. The new benefit would provide full in-state tuition and fees for enrollment in a public college, a monthly housing stipend and $1,000 per year for books and supplies. People who serve three years would receive the full benefit; those with shorter enlistments would receive between 40 percent and 90 percent of the benefit. The benefits could be transferred to a service member’s spouse or children.

Author of the bill, Senator Jim Webb when speaking on Countdown with Keith Obermann today, said that this bill will, “give the people who served since 9/11 the same kind of benefits as those who served during World War 2 and they’ve got a chance at a first class future. I couldn’t be happier.”

If you are a veteran wondering if you will qualify for these benefits, Leo Shane III at Stars and Stripes as a good overview: The new GI Bill: A study guide

For editorial commentary, here are a couple of the interesting reactions about this bill passing:

Dorian De Wind at The Moderate Voice has written several posts about this bill including The New G.I. Bill — From Someone “on the Ground” and this final update.

Jason Linkins at Huffington Post sums up what many news junkies, bloggers and otherwise, quickly picked up on: Bush Wrongly Credits McCain For ‘Working Hard’ On G.I. Bill

It is important to know which  courses of study are more likely to lead to higher salaries after graduation. With all the complications and difficulties of paying for college though, it is just important to choose the degree plan that is right for you. An article in this week’s MarketWatch provides a more balanced  perspective on choosing a college major. Check it out for links to important resources and some great advice, in plain language, with an eye toward reducing college debt.

As you get ready to go back to school this fall, or to begin your freshman year, you should already be thinking about all the many ways you can save money. Like most students, you are likely to find that textbooks constitute the biggest expense you have to deal with after tuition and housing. One of the best ways to save money on books is to start shopping around for the best deals as soon as you know what will be required for the classes you are taking. In addition, here are a few more suggestions on how you can keep your textbook expenses as low as possible.

• Explore Internet Resources: In addition to the big names like amazon.com, barns&noble.com, and internet classifies like craigslist, there are a number of internet sights that offer new and used textbooks. My best advice is to google it, so you can take a look at what’s out there for yourself. You should also keep your ears open for any websites that your friends and classmates may be using. And as always, be careful when shopping on the internet. Make sure the sight is reputable and that they will be able to get the book(s) to you in a timely manor before you buy.

• Shop for Used Books: Just about any resource you go to, including your campus book store, should offer a selection of used books. Teachers and professors often insist on using the latest editions of particular texts though. So you won’t always be able to go this rout. Also, make sure you are choosing the used books that are right for you. Some students prefer using books that already have passages highlighted and/or notes in the margin left by the previous owner. Others want to use those that are in as next-to-new condition as possible. Take a few minutes to flip through the pages and see what is inside before picking a used book off the shelf.

• Off-Campus Book Stores: Once you know what books you will need to buy, it might be a good idea to look around at off-campus book stores. This especially applies when your assigned reading includes things other than traditional textbooks such as novels, plays, or books by philosophers or economists. You may be able to save a few dollars on these just by looking around at a store designed for the general public.

Is “making good money” on the top of your list of after-college goals? Unless you’re preparing for a career in social work or the arts, that might sound like a silly question. This week, Forbes.com features some of the latest info on the earning potential of various college majors. Along with valuable statistics and resources, this article underlines the importance of avoiding fads when you choose a major, and giving more serious thought to courses of study that have proven lucrative for others over time.

Becky McCray from Small Biz Survival recently interviewed Chris Penn of the Financial Aid Podcast. This audio interview is available to listen to online or download as an MP3. He offered lots of great advice for college students and parents:

• Tips for students from rural, or small towns
• Importance of the FAFSA
• Availability of student loans for community colleges
• Cautions about private student loan
• Pitfalls students should watch out for
• Special information parents who are small business owners

Listen to this audio podcast for free.