Chapter 1606 VA Benefits: Montgomery GI Bill Selected Reserve (MGIB-SR) provides financial assistance to eligible members of the Selected Reserve, which includes the Army Reserve, Navy Reserve, Air Force Reserve, Marine Corps Reserve, Coast Guard Reserve, Army National Guard, and Air National Guard, for Veterans Affairs. The MGIB-SR rates are in effect from October 1, 2023, to September 30, 2024.
Your monthly pricing depends on the courses you’re taking, your education or training, and your on-the-job or apprenticeship progress. Your monthly rate may be lower than the complete rate if you are enrolled in fewer courses than full-time, have fewer clock hours per week, or are in an on-the-job training or apprenticeship program.
“If you have a kicker, you may receive a higher monthly income than the full-time enrollment rate.” “We will include the kicker amount in your monthly payment.”
The monthly rates for full-time enrollment at institutions of higher education are as follows:
- Full-time enrollment: $466.00
- 3/4-time enrollment: $349.00
- 1/2-time enrollment: $233.00
- Less than half-time enrollment: $116.50
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Here’s how MGIB-SR rates affect your funding
“We will pay you a percentage of the full month’s rate based on the number of days you are enrolled in the month.” This is a prorated payment. The first 10 days of monthly enrollment are paid if your school starts on the 20th. You would pay one-third of the monthly cost.
Trade and vocational schools charge a variety of monthly fees. You directly receive payments, and these rates will apply from October 1, 2023, to September 30, 2024. Understanding MGIB-SR rates is vital when choosing an undergraduate or graduate degree.
Understand rates and their computation to make informed decisions about your education and training, whether you’re in college or not. Understanding how MGIB-SR rates relate to education or training might increase its value.
