2023 – 2024 Montgomery GI Bill Rates

Maximize your educational advantages and determine how much your Montgomery GI Bill (MGIB) benefits are worth using these rate charts.
Advertising Disclosure.

Advertiser Disclosure: The Military Wallet and Three Creeks Media, LLC, its parent and affiliate companies, may receive compensation through advertising placements on The Military Wallet. For any rankings or lists on this site, The Military Wallet may receive compensation from the companies being ranked; however, this compensation does not affect how, where, and in what order products and companies appear in the rankings and lists. If a ranking or list has a company noted to be a “partner,” the indicated company is a corporate affiliate of The Military Wallet. No tables, rankings, or lists are fully comprehensive and do not include all companies or available products.

The Military Wallet and Three Creeks Media have partnered with CardRatings for our coverage of credit card products. The Military Wallet and CardRatings may receive a commission from card issuers.

Opinions, reviews, analyses & recommendations are the author’s alone and have not been reviewed, endorsed, or approved by any of these entities. For more information, please see our Advertising Policy.

American Express is an advertiser on The Military Wallet. Terms Apply to American Express benefits and offers.

Montgomery GI Bill rates

The Montgomery GI Bill (MGIB) is one of the most valuable benefits available to military members and veterans. It is often worth thousands of dollars to help pay for college or other educational training programs. Veterans receive MGIB benefits in monthly payments from the Department of Veterans Affairs. To see how much you could receive through the Montgomery GI Bill, look at the rate table below that corresponds with the GI Bill program or the educational program you are attending.

Each situation is unique, and these charts should only be used for reference. Contact the VA and your educational institution to determine your eligibility and the status of your benefits.

Table of Contents
  1. Montgomery GI Bill Benefits
    1. Montgomery GI Bill – Active Duty (MGIB-AD)
    2. Montgomery GI Bill – Selected Reserve (MGIB-SR)
  2. 2023-2024 Montgomery GI Bill Monthly Rates
  3. Montgomery GI Bill Training Rates (Three or More Years of Service)
    1. MGIB Institutional Training Rates
    2. MGIB Rates for Apprenticeships and OJT 
  4. Montgomery GI Bill Training Rates (Fewer Than Three Years of Service)
    1. MGIB Institutional Training Rates
    2. MGIB Rates for Apprenticeships and OJT
  5. Montgomery GI Buy-Up Program: Add Up to $150 Per Month to Your GI Bill Payment
    1. MGIB Buy-up Rate Chart
  6. How Does the VA Charge Your Training Against Your GI Bill Benefits?
  7. GI Bill Refunds
  8. Transfer GI Bill Benefits

Montgomery GI Bill Benefits

The Montgomery GI Bill is split into two GI Bill programs available for active-duty servicemembers and veterans: one for active-duty and the other for the National Guard and Reserves.

  • Montgomery GI Bill – Active Duty (MGIB-AD): Active-duty members of the armed forces with requirements to pay $100 monthly for 12 months are eligible for the MGIB-AD monthly education benefits once they have completed a minimum service obligation.
  • Montgomery GI Bill – Selected Reserve (MGIB-SR): Drilling reservists who have a six-year obligation to the armed forces are eligible for the MGIB-SR.

There is another GI Bill available, called the Post-9/11 GI Bill, sometimes called the Forever GI Bill.

Montgomery GI Bill – Active Duty (MGIB-AD)

Veterans must enroll in an institute of higher learning (IHL) to use the MGIB. Veterans send their enrollment certificates to the VA, which then pays them according to their benefit rate. The student’s course load (full-time, ¾-time, ½-time, etc.) determines the rate. Students are responsible for paying the school tuition and fees unless they receive full tuition assistance through another program.

Military members can use the MGIB while they’re on active duty. However, active-duty service members could also be eligible for tuition-assistance benefits, which may be a better option.

Active-duty military members who bought into the MGIB are eligible for education benefits once they complete a minimum service obligation. . Their eligibility expires within 10 years of leaving military service.

Note: The MGIB is a voluntary program, however MGIB refunds are available. They’re only to service members who are also eligible for the Post-9/11 GI Bill.

Montgomery GI Bill – Selected Reserve (MGIB-SR)

The MGIB-SR also offers 36 months of benefits to eligible reservists and Guardsmen. As with the MGIB-AD, the student’s course load determines the rate.

In general, the rule for eligible recipients is that they must use their benefits within 14 years, and their benefits expire when they leave the selected reserve.

There are extensions in limited situations. When reservists are called to active duty, the VA extends their eligibility for the length of their mobilization plus four months – even if they leave the selected reserve. In addition, reservists who leave the service in certain situations may qualify for benefits for 14 years from the date of their first six-year obligation. They would qualify if they separated due to a disability, were part of a unit that was deactivated between Oct. 1, 2007, and Sept. 30, 2014, or were involuntarily separated during that time.

2023-2024 Montgomery GI Bill Monthly Rates

Eligible Montgomery GI Bill recipients receive monthly stipends while they are attending classes at a qualified training institution. The checks are payable to the student and not to the school. If you are using corporate education benefits to pay for your tuition, you may be able to save your MGIB payments or use them for other expenses.

Students who are on active-duty status will only be reimbursed for the actual costs of tuition and fees. Service members using military tuition assistance will receive MGIB payments only for the difference between the tuition assistance and the remaining tuition and fees.

The following payment rates for the Montgomery GI Bill are effective for fiscal year 2023, or from Oct. 1, 2023, through Sept. 30, 2024.

Montgomery GI Bill Training Rates (Three or More Years of Service)

MGIB Institutional Training Rates

These are the MGIB rates for service members who served three years or more on active duty, according to the VA.

Institutional Training TimeMonthly GI Bill Rate
Full time$2,358
¾ time$1,768.50
½ time$1,179
Less than ½ time more than ¼ time$1,179**
¼ time or less$589.50**

** Tuition and fees only. Payment cannot exceed the listed amount.

MGIB Rates for Apprenticeships and OJT 

You can also use the MGIB for apprenticeships and on-the-job training. The following rates cover these types of training for veterans with three or more years of service.

Apprenticeship and on-the-Job TrainingMonthly GI Bill Rate
First six months of training$1,768.50
Second six months of training$1,296.90
Remaining pursuit of training$825.30

Additional Notes About These MGIB Rates:

  • Correspondence programs – 55% of the approved charges
  • Flight school – 60% of the approved charges

Montgomery GI Bill Training Rates (Fewer Than Three Years of Service)

MGIB Institutional Training Rates

If you served fewer than three years, these MGIB rates apply:

Institutional Training TimeMonthly GI Bill Rate
Full Time$1,913
¾ Time$1,434.75
½ Time$956.50
Less than ½ time, more than ¼ time$956.50**
¼ time or less$478.25**

** Tuition and fees only. Payment cannot exceed the listed amount.

MGIB Rates for Apprenticeships and OJT

If you served fewer than three years, these MGIB rates apply:

Apprenticeship and On-Job Training Monthly GI Bill Rate
First six months of training$1,434.75
Second six months of training$1,052.15
Remaining pursuit of training$669.55

Additional Notes About These MGIB Rates

  • Correspondence programs – 55% of the approved charges
  • Flight school – 60% of the approved charges

Montgomery GI Buy-Up Program: Add Up to $150 Per Month to Your GI Bill Payment

The Montgomery GI Bill buy-up program allows members to “top up” their GI Bill by buying additional benefits in $20 increments, up to a total of $600. MGIB recipients then receive an additional stipend on their monthly GI Bill payment, valued at one-quarter of the amount they paid into the buy-up program for full-time attendance. Part-time students receive prorated rates.

MGIB Buy-up Rate Chart

The table below lists how much your monthly MGIB payments will increase if you participated in the buy-up program, according to the VA.

If this amount paidAdd this amount to Full Time paymentAdd this amount to ¾ time paymentAdd this amount to ½ time paymentAdd this amount to less than ½ time but more than ¼ time paymentAdd this amount to ¼ time payment
$20$5$3.75$2.50$2.50$1.25
$40$10$7.50$5$5$2.50
$60$15$11.25$7.50$7.50$3.75
$80$20$15$10$10$5
$100$25$18.75$12.50$12.50$6.25
$120$30$22.50$15$15$7.50
$140$35$26.25$17.50$17.50$8.75
$160$40$30$20$20$10
$180$45$33.75$22.50$22.50$11.25
$200$50$37.50$25$25$12.50
$220$55$41.25$27.50$27.50$13.75
$240$60$45$30$30$15
$260$65$48.75$32.50$32.50$16.25
$280$70$52.50$35$35$17.50
$300$75$56.25$37.50$37.50$18.75
$320$80$60$40$40$20
$340$85$63.75$42.50$42.50$21.25
$360$90$67.50$45$45$22.50
$380$95$71.25$47.50$47.50$23.75
$400$100$75$50$50$25
$420$105$78.75$52.50$52.50$26.25
$440$110$82.50$55$55$27.50
$460$115$86.25$57.50$57.50$28.75
$480$120$90$60$60$30
$500$125$93.75$62.50$62.50$31.25
$520$130$97.50$65$65$32.50
$540$135$101.25$67.50$67.50$33.75
$560$140$105$70$70$35
$580$145$108.75$72.50$72.50$36.25
$600$150$112.50$75$75$37.50

How Does the VA Charge Your Training Against Your GI Bill Benefits?

The VA calculates entitlement in days and months – each month is counted as 30 days – and charges you one full day of entitlement for each day of full-time benefits you receive. If you train part-time, the VA will adjust the entitlement charge according to your training time.

For example, if you receive full-time benefits for 12 months, the charge is 12 months of entitlement. If you receive half-time benefits for 12 months, the charge is six months.

For correspondence, flight training, accelerated payments for high-cost, high-technology courses and tests for licenses or certifications, determine the entitlement charge by dividing the amount you received by your MGIB monthly rate for full-time training.

GI Bill Refunds

You may qualify to get a Montgomery GI Bill refund in limited circumstances. You must be eligible for both the MGIB and the Post-9/11 GI Bill, and you must exhaust your Post-9/11 GI Bill benefits first.

Transfer GI Bill Benefits

Service members who are enrolled in the Montgomery GI Bill are not able to transfer GI Bill benefits to family members.

About Post Author

Get Instant Access
FREE Weekly Updates! Enter your information to join our mailing list.

Posted In:

Reader Interactions

Comments

    Leave A Comment:

    Comments:

    About the comments on this site:

    These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

  1. Megan Wallace says

    I am Active Duty military and I was wondering when do you get the money for the Montgomery GI Bill, I have received the letters in the mail stating the amount that I will receive for the month but I am about a month into class and haven’t relieved the money for the class.

Load More Comments

The Military Wallet is a property of Three Creeks Media. Neither The Military Wallet nor Three Creeks Media are associated with or endorsed by the U.S. Departments of Defense or Veterans Affairs. The content on The Military Wallet is produced by Three Creeks Media, its partners, affiliates and contractors, any opinions or statements on The Military Wallet should not be attributed to the Dept. of Veterans Affairs, the Dept. of Defense or any governmental entity. If you have questions about Veteran programs offered through or by the Dept. of Veterans Affairs, please visit their website at va.gov. The content offered on The Military Wallet is for general informational purposes only and may not be relevant to any consumer’s specific situation, this content should not be construed as legal or financial advice. If you have questions of a specific nature consider consulting a financial professional, accountant or attorney to discuss. References to third-party products, rates and offers may change without notice.

Advertiser Disclosure: The Military Wallet and Three Creeks Media, LLC, its parent and affiliate companies, may receive compensation through advertising placements on The Military Wallet. For any rankings or lists on this site, The Military Wallet may receive compensation from the companies being ranked; however, this compensation does not affect how, where, and in what order products and companies appear in the rankings and lists. If a ranking or list has a company noted to be a “partner,” the indicated company is a corporate affiliate of The Military Wallet. No tables, rankings, or lists are fully comprehensive and do not include all companies or available products.

Editorial Disclosure: Editorial content on The Military Wallet may include opinions. Any opinions are those of the author alone, and not those of an advertiser to the site nor of  The Military Wallet.

Information from your device can be used to personalize your ad experience.