Service members and veterans gets benefited by cash and various other different support programs by means of which, they can get the help on education and training cost under Montgomery GI Bill. In the Montgomery GI Bill they get cash help for up to around $ 61,000.
Montgomery GI Bill’s value is currently based on monthly rate of payment as $1717 which is multiplied by maximum monthly limit of 36. Every year on first October the above mentioned payment rate will be adjusted automatically for inflation. You will get the payment rate which is at present irrespective of when you will be eligible or when you will start using it.
Academic months are referred in term ‘Benefits for 36 months’. It shows that you will get 4 years or 8 semester traditional education.
There are various different programs which can be paid by MGIB as follows:-
- Business, Vocational, College or Technical courses
- Correspondence courses including Distance learning
- Job Training/Apprenticeship (For reserve and veterans only)
- National Testing Programs
- Accelerated Trainings on High Tech
- Flight Training
- Certification and licensing exams
There is an important Note on this that if someone has registered for College funds for Marine Corps, Army or Navy, his actual benefits will be higher.
Criteria for eligibility:-
If someone wants to get benefited by MGIB he/she will qualify if:-
- During his /her active duty for the first year if he contributed $100 monthly or if qualified in VEAP conversation.
- If from his active duty he gets an honorable discharge.
- Before applying for benefits he must have completed high school or some equivalent certificate.
- At least 2 years of active duty should be served by you.
If someone wants to know more about it he/she can check details on GI Bill Eligibility Fact Sheet.