Well I think a lot of the kids the Dream Act will help don't have limited English, in fact they've pretty much grown up in the US, they grow up pretty darn bilingual since they arrived young and went to US schools. Just from the kids and families I know.
Also, the military thing is military OR 2 years of university, like community college. Military service is not an obligation.
From what I understand it allows kids access to residency which means getting in-state tuition and also loans and whatnot, not automatic financial aid.
There are so many undocumented young folks who grew up in the US who can't go to college because it's way too expensive. If they were able to earn residency and pay in-state and get some federal loans or grants ~ under the same academic and "moral character" requirements as documented kids (moral character taken from actual Dream Act language :) then I think society in general will benefit ~ more young people with education, skills, ability to compete for jobs.
Those are my dos centavos!