The VA released the Fiscal Year 2011 Montgomery GI Bill payment rates. This year the MGIB rates increased by 4 percent to $1,426 a month, making the total value of the older GI Bill program over $51K (for 36 months) for those who have not started using their benefit.
Unlike the the Post-9/11 GI Bill, the MGIB rates for full-time, three quarter, half, and less then half-time are relatively straight forward. A student veteran carrying a full load (normally 12 semester hour units) earns the full monthly payment rate of $1,426 while the halftime-time student would get half that amount ($713).
The VA also released the FY2011 payment rates for the Montgomery GI Bill for Selected Reserve (MGIB-SR), Reserve Education Assistance Program (REAP) and Survivors’ and Dependents’ Education Assistance Program (DEA).
Follow these links to find the payment rates for each program:
- Montgomery GI Bill
- Montgomery GI Bill – Selected Reserve
- Reserve Education Assistance Program
- Survivors’ and Dependents’ Education Assistance
NOTE: These new payment rates do not go into effect until Oct. 1, 2010. This means that vets using the MGIB can expect to see the increase in their October payment (the November 2010 check).