As an officer already holding a college degree, the GI bill probably isn't going to be your cup of tea. The best thing you could do is pass it down to a family member.
As for cutting tuition assistance, I have heard from multiple sources that it's not widely used by operational units anyway. Even online distance learning programs have certain times where you are required to be on the web to "attend" lectures and whatnot. Now picture that you are over 8 hours off from the university's local time and they want you online at what is 0200 your time, or you have military duties to perform during that scheduled period, or you go on a mission, or whatever. Or maybe the member wants to do a technical degree but can't do the labs, so he just holds off to use the GI bill. It sucks they are cutting it for those who have been able to use it successfully, but if those accounts of the numbers are true I understand the reasoning and it's more alarming as a news headline than anything else.