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Ok I think you're a little confused. What we're talking about here is the US Coast Guard Academy, which is a four-year college. There is a summer "boot camp" but that is in New London, CT where the academy is located. Once that ends, you begin academic classes and other training just like at Annapolis, West Point, etc. There is a five-year service commitment when you graduate. Depending on your class rank you can request a particular area to be stationed. There are many different kinds of jobs available, too numerous to mention.
Now if you're speaking about enlisting in the Coast Guard, that boot camp is in Cape May, NJ. The payscale is the same as any of the other services. No sure about the GI Bill stuff but I now if you're enlisted you can take college courses. Recruits do get paid. You can look up the Coast Guard web site for that info.
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