Service members can increase the VA GI Bill benefit amount by taking advantage of certain programs. The $600 Buy-Up program can increase the MGIB education grant up to $5,400. Active-duty service members must contribute a portion of their military pay to an education fund before leaving service.
To qualify for MGIB after service, active-duty service members must contribute at least $100 per month for 12 months, up to $1,200. If they contribute an additional amount, they will receive more each month they receive MGIB benefits.
- The additional amount active-duty service members can contribute starts at $20 and increases in intervals of $20 up to $600. Military members cannot contribute more than $600. Each additional $20 contribution increases the monthly MGIB benefit amount by:$5 for full-time enrollment in an education program, for a total of $180 extra over 36 months.
- $3.75 for three-fourths-time enrollment, for a total of $135 extra over 36 months.
- $2.50 for half-time to quarter enrollment, for a total of $90 extra over 36 months.
- $1.25 for quarter or less enrollment, for a total of $45 extra over 36 months.
If they contribute the full $600, their monthly MGIB benefit amount will increase to:
- $150 for full-time enrollment in an education program, for a total of $5,400 extra over 36 months.
- $112.50 for three-fourths-time enrollment, for a total of $4,050 extra over 36 months.
- $75 for half-time to quarter enrollment, for a total of $2,700 extra over 36 months.
- $37.50 for quarter or less enrollment, for a total of $1,350 extra over 36 months.
The $600 Buy-Up program only applies to MGIB benefit payments. Beneficiaries will not receive an additional monthly payment if they use Post-9/11 GI bill benefits.
The $600 Buy-Up program is just one method to increase funding for educational expenses. Other VA programs include the Edith Nourse Rogers STEM Scholarship and the Yellow Ribbon Program.
The Edith Nourse Rogers STEM Scholarship can provide eligible beneficiaries with an additional nine months of benefits or $30,000. Beneficiaries must enroll in a STEM degree program or have a STEM degree and pursue a teaching certificate or a health care training program.
The Yellow Ribbon Program helps cover higher education costs, including tuition for out-of-state, private, foreign, and graduate schools. Beneficiaries must enroll in a school that participates in the program. Interested service members can speak to a VA representative about the other requirements.
By Admin –
