This website is not affiliated with the U.S. government or military.

Do I Still Get Full GI Bill Eligibility By Using Both the Student Loan Repayment Program and the Montgomery GI Bill?


Q: I have a question concerning the MGIB combined with the LRP. I am currently active duty under a 6-year contract. I enlisted with the loan repayment program as my enlistment guarantee. I also paid the $1200 for the Montgomery GI Bill. I haven’t seen any other questions that have been asked about my exact situation, but I have seen similar ones. When I finish my 6-year enlistment, am I correct in assuming that only the last 3 years of my enlistment can be applied towards the Montgomery GI Bill, since the first 3 years get applied to the LRP? And does that still equal a full entitlement?

A: When you enlist for the Loan Repayment Program, you incur a three-year obligation. During that time you do not acquire GI Bill eligibility because you can’t use the same period of service to pay back your LRP obligation and acquire GI Bill eligibility.

With LRP, annually you have to fill out DD Form 2475 on each eligible loan for repayment. Many servicemembers miss this step and then wonder why nothing is getting paid on their loans. At the end of three years, your loans should either be paid off or at least paid off up to the maximum amount payable per year on each loan.

Then you start acquiring GI Bill eligibility. Actually, in your case, you will start acquiring eligibility on two GI Bills – the Montgomery GI Bill that you paid for and the Post 9/11 GI Bill which is free to you just by serving more than 90 days after September 10, 2001.

At the end of the second three-year period, you will have full eligibility (36 months at 100%) that can be used for either GI Bill or 48 months if you use both of them. To get the full 48 months, first exhaust your 36 months of MGIB benefits. Then switch over to the Post 9/11 GI Bill and get the additional 12 months.

Or switch right away and get 36 months of Post 9/11 GI Bill benefits, a higher rate of pay, and get your $1,200 MGIB contribution back after using your last month of benefits, but you won’t get the additional time doing it this way.


Privacy Policy | About Us | FAQ | Terms of Service | Disclaimers | Do Not Sell My Personal Information (CA and NV residents)

Copyright © 2020 EducationDynamics. All Rights Reserved.

This is a private website that is not affiliated with the U.S. government, U.S. Armed Forces or Department of Veteran Affairs. U.S. government agencies have not reviewed this information. This site is not connected with any government agency. If you would like to find more information about benefits offered by the U.S. Department of Veteran Affairs, please visit the official U.S. government web site for veterans’ benefits at http://www.va.gov.

The sponsored schools featured on this site do not include all schools that accept GI Bill® funding or VA Benefits. To contact ArmyStudyGuide, email us.

Disclosure: EducationDynamics receives compensation for the featured schools on our websites (see “Sponsored Schools” or “Sponsored Listings” or “Sponsored Results”). So what does this mean for you? Compensation may impact where the Sponsored Schools appear on our websites, including whether they appear as a match through our education matching services tool, the order in which they appear in a listing, and/or their ranking. Our websites do not provide, nor are they intended to provide, a comprehensive list of all schools (a) in the United States (b) located in a specific geographic area or (c) that offer a particular program of study. By providing information or agreeing to be contacted by a Sponsored School, you are in no way obligated to apply to or enroll with the school.

This is an offer for educational opportunities that may lead to employment and not an offer for nor a guarantee of employment. Students should consult with a representative from the school they select to learn more about career opportunities in that field. Program outcomes vary according to each institution’s specific program curriculum. Financial aid may be available to those who qualify. The financial aid information on this site is for informational and research purposes only and is not an assurance of financial aid.

Enter to Win $1,000 for College From Lending Tree. Deadline to Enter January 31, 2022.

X

Enter NOW! Niche's $2,000 Scholarship Giveaway, Deadline July 31, 2021

X