Monetary help is shared by the Montgomery GI Bill Selected Reserve program to eligible select holders in the ANG, Navy, Air Force, Marine Corps, CGR. The rates will change in October. How well you attended the internship or OTJ training, among other things. If you participate in an internship or job training, work fewer hours per week, or work less than full-time hours, your monthly rates will be less than the full cost.
There are benefits for education and training available for up to 36 months via this program. If you are in the ANG, Navy, Air Force, Marine Corps, CGR you may be Chapter 1606 VA Benefits 2024 Eligible. Those who are eligible to receive monthly benefits based on their rate during their enrollment duration.
Chapter 1606 VA Benefits
Chapter 1606 VA Benefits are available to you until the end of your eligible term or until you have used up all of your allotted amount, whichever comes first. The term entitlement refers to the maximum number of months you might be eligible for benefits. If you are summoned to active duty, DVA could decide to extend the time you are eligible. If this occurs, your eligibility will be extended for the duration of your mobilization plus an additional four months.
The department will extend your eligible time for 16 months, for instance, if you are deployed for 12 months. Even if you depart the Selected Reserve during mobilization, this extension remains in effect. The amount given here cover the whole enrollment month. Depending on how many days you are enrolled in the month, DVA will pay you a percentage of the full month’s rate and it is known as prorated. You would receive money for ten days of enrollment in that month, for instance, if your school opens on the 20th. One-third of the monthly fee would be your payment.
Chapter 1606 Selected Reserve- Eligibility
The Selected Reserve components decide who is eligible for this program. The funding for this initiative comes from DVA. You must fulfill the following Chapter 1606 Selected Reserve- Eligibility Requirements to get the benefit:
- Possess a signed six-year SR commitment dated after June 30, 1985. If you are an officer, you have further obligations of serving six years beyond the original term. Certain training programs need a six-year commitment starting after September 30, 1990;
- Complete your IADT;
- Before completing the IADT, you get a high school diploma or certificate of equivalent value, such as a GED or High School Equivalency Diploma (Note: 12 hours cannot be applied toward a college degree to complete this criterion),
- You must be a member of the SR, additionally, if you were released from SR service because of a disability that wasn’t brought on by misbehavior, you will still be eligible for MGIB-SR. In the event that you are called to active duty, your eligibility term can be extended.
Chapter 1606 VA Benefits- Monthly Rates
The monthly rates for the reserve GI Bill are changed each October based on the government’s projections of higher education expenditures. You earn varying amounts based on how much training time you have. The DVA will pay your benefits for UG training depending on the amount of time reported by the institution.
So, if you take three UG hours and your school informs the VA that you are a FT student, the DVA will pay you accordingly. Monthly rates in the tables below are effective October 1, 2023.
| Full time | USD 466.00 |
| 3/4 time | USD 349.00 |
| 1/2 time | USD 233.00 |
| Less than 1/2 time | USD 116.50 |
How to get these benefits?
- You must have your NBE, DD Form 2384-1, from your unit. Your unit will also put your eligibility into the DoD personnel system so that DVA can verify it.
- Find out whether DVA approved your program for VA education benefits before you enroll by getting in touch with the institution or using the GI Bill Comparison Tool. You must get permission from the school if you wish to enroll in a program that DVA have not approved. Until an official from your school (not you) seeks permission, DVA are unable to take any action. Furthermore, the benefit is not yours to use until DVA authorize it. You will be responsible for covering all school expenses, including tuition and fees, if your program is denied approval.
- Online application for VA Education Benefits must be submitted and applying in person, by mail, or with the assistance of a qualified expert are more options.
- The certifying authority may be a member of your school’s financial aid, VA, registrar, admissions, or counseling staff. The person in charge of an apprenticeship or OTJ training program may work in your school’s training, finance, or human resources departments.
How to use MGIB-SR education benefits?
- Students who need to take remedial courses to improve their fundamental reading, math, or English abilities before they may enroll in normal college courses
- Courses required for deficiency (those a student must take to get into a certain college)
- Refresher courses are quick classes that assist individuals in reviewing and enhancing their expertise in a certain field.
Peter H David is a finance graduate who has been active in the field since 2015. He enjoys writing about stimulus programs, social security, and other U.S. finance topics to help Americans better understand their finances.