The answer to your question is a resounding YES. Go to
http://www.dfas.mil/money/milpay/and look at the current pay chart. With your 2-year degree you should be able to enter as an E-3 or maybe an E-4, although I'm not sure on that since I am currently an Army guy (hopefully a coastie soon). Keep in mind that you will also get an additional allowance for food and housing. You will also have 100% dental and medical coverage as well for the length of your stay in the service, as will any and all of your immediate family members. You also get 2.5 days of paid leave per month, totaling 30 days per year, that you can generally take when you want, not to mention that you usually get holidays off anyway, which does not count against these 30 days. And of course, there is retirement, which you can have at 20 years, or stay longer if you like. There are links on the site I provided which detail the retirement benefits as well. Best of luck.