There are many ways for students to pay for college, and one of the most popular financial aids comes from the military service. The Montgomery GI Bill is a financial aid program that is specifically provided for eligible people who serve in the military. The currently maximum monthly benefit is $1,368, and can be received for up to 36 months. Thus, the maximum lifetime benefit available under the Montgomery GI Bill program is currently $49,248.
The Montgomery GI Bill is open to all active members of military institution such as the Army, Navy, Marine, veterans, National Guard, and Air Guard. To get the benefit of Montgomery GI Bill, an eligible applicant must contribute $100 per month for the first twelve months of the active duty into the GI Bill program. The applicant must also present a receipt of high school diploma or equivalency certificate before applying. Plus, the applicant must have been in active duty service for at least 2 years.
There are two steps in applying for Montgomery GI Bill. First, an applicant should select the school or training program that has been deemed eligible by the Veteran’s Administration (the list is available in the VA website). Then, the applicant fills out and sends in VA Form 22-1990 to the Veteran’s Administration Regional Processing Office.
After submitting the application, if the VA does not require any additional information, the applicant will receive a letter outlining the benefits he or she is eligible for. After completing any additional requests for information, the monthly benefit check will begin arriving in the mail or by direct deposit.
Montgomery GI Bill is complex in many ways, such as from its rule classifications, calculation, and requirements. Applicants are advised to seek guidance from local Voluntary Education Services Office. Additional resources can also be found on the government’s website for the Montgomery GI Bill.
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