Montgomery GI Bill benefits are available for service members and veterans to help with education and training costs by providing over $51,000 in cash and numerous support programs.
The value of the MGIB is based on the current maximum monthly payment rate of $1473 multiplied by the 36-month limit. This "payment rate" automatically adjusts for inflation on the first of October each year. You get current payment rate no matter when you became eligible or begin using it.
The term "36 months of benefits" refers to academic months. This means you will have up to 8 semesters (four years) of traditional academic education.
Your MGIB can be used to pay for many different programs including the following:
- College, Business Technical or Vocational Courses
- Distance Learning including Correspondence Courses
- Flight Training
- Licensing and Certification Exams
- Apprenticeship/Job Training (Veterans and Reserve Only)
If you are a veteran or currently in the guard or reserve, the On-The-Job Training (OJT) Program offers you an alternative way to use your VA (GI Bill) education and training benefits. The following is a summary of these GI Bill alternatives.
When you are trained for a new job, you can receive monthly training benefits from the Department of Veterans Affairs (VA) in addition to your regular salary. This means that you can receive up to $1104.75 a month ($258.75 for Reserve/Guard) tax-free, on top of your regular salary! That's over $12,000 in cash benefits over two years, for training in an OJT or apprenticeship training program.
VA pays OJT benefits on a scale depending on the amount of time the participant is enrolled in OJT. For example the program currently pays $1104.75 a month for the first six months of training, $810.15 for the second six months of training and $515.55 for remaining training.
VA pays GI Bill Selected Reserve participants on a similar scale but at the following reduced rates; $258.75 a month for the first six months of training, $189.75 for the second six months of training and $120.75 for remaining training. Selected Reserve participants.
Note: Your actual benefits may be higher if you signed up for the Army, Navy or Marine Corps College Funds.