Each year the Dept. Of Veterans Affairs adjusts the monthly payment rate for the Montgomery GI Bill. The VA announced that the maximum monthly payment rate for full-time students will be increased about 3 percent - from of $1426 to $1473 - on Oct. 1, 2011. This payment rate automatically adjusts for inflation on the first of October each year. You get current payment rate no matter when you became eligible or begin using it. The first payment at the new rate will be sent on or about November 1.
View all of the FY 2012 MGIB payment rates.
The rates will also increase for the MGIB for Selected Reserve (MGIB-SR), Reserve Education Assistance Program (REAP), and On-the-Job-Training.
This increase in rates does not include any Post-9/11 GI Bill specific benefits. However, the p911 GI Bill will soon pay up to $673 a month for housing/living expenses for online learners – effective Oct. 1.
Learn more about each of the GI Bill education programs.
