What is the Montgomery Bill?
Military service members receive a long list of benefits for serving the country and one of these benefits is the Montgomery Bill.
The purpose of the Montgomery GI Bill (MGIB) is to assist both veterans and service members once they become civilians by helping pay for their tuition to attend a vocational, training or degree-granting program.
Before you assume that your benefits will pay for your costs in their entirety, you should understand the limits and limitations. Read on, and find out about the value of the benefits provided by the MGIB so that you put it to use when you leave service.
The Program for Active-Duty Service Members
There are two different MGIB programs that you may qualify for. The first is the MGIB-Active Duty, which is specifically for those active-duty service members who have served for more than 2 years and who are enrolling in an approved training program.
Approved programs that will make you eligible for assistance include: college degree programs, certificate programs, technical courses, vocational training, flight training, apprenticeships, high-tech training, licensing tests, business training and more.
With this program, benefit recipients will receive payment for up to 36 months and you can use this over a period of 10 years.
The actual amount received depends upon the type of training and the length of your service. You will also need to possess a diploma or GED before you will be deemed eligible for these benefits.
The Program for Reservists
The Montgomery GI Bill also includes a separate program for reservists called the MGIB-SR. Reservists who have signed a commitment to serve for at least 6 years are eligible for up to 36 months of benefits to cover the same type of programs as the active duty program.
Eligibility requirements also state that you must have completed active duty training and that you remain in good standing in your unit. Unlike the AD program, your eligibility for benefits ends when you leave the Selected Reserve.
This is something to seriously consider when you are mapping out the path you will take to continue your education.
Other Types of Assistance Available to Pay for Educational Costs
The Montgomery GI Bill is something that you contribute to while you are serving in the military so that you can afford to train when you become a civilian looking for a lifetime career.
While it can truly make a difference in helping pay to earn a degree, this bill is not the only one that can help you financially. There is also the Top-Up program, the Veteran GI Bill, and even the Post/911 GI Bill that will all help you live more comfortably so that you have time to study.
Make sure that you check eligibility requirements on all of these so that you can understand your benefits.
Both you and your family members can receive assistance so that you can get an education and live a fulfilling life after the military.
In fact, many service men and women choose to serve in a branch of the military just because of the available benefits. If you are eligible and you are ready to continue your education, it is time to decide what you want to do and then apply for the benefits that are awarded to you through the Montgomery Bill.