Montgomery GI Bill COLA Increases for FY 2023
Those using the Montgomery GI Bill can expect an increase in monthly GI Bill payments starting in October 2022. Fiscal 2023 GI Bill payments are increasing by nearly 3% from last year, thanks to the annual Cost-Of-Living Adjustment or COLA.
Those using the Post 9/11 GI Bill have already received their COLA. The new COLA may also affect other VA education programs; look for your program’s rates in the article below.
Montgomery GI Bill – Active Duty
- Active Duty full-time students will see an increase from $2,150 to $2,210. An increase of $60 per month.
- Active Duty half-time students will see an increase from $1,075 to $1,105. An increase of $30 per month.
Qualifying active-duty full-time students attending classes on the Montgomery GI Bill could see their monthly check increase to $2,210. Active duty students attending half-time can expect an increase to $1,105.
Montgomery GI Bill rules say you are paid a specific dollar amount based on the number of classroom hours you carry; for undergraduates, this works out to:
- 0-2 hours – quarter-time
- 3-5 hours – less than half-time
- 6-8 hours – half time
- 9-11 hours – three-quarter time
- 12 hours+ – full-time
Graduate students using the Montgomery GI Bill should expect to be paid based on what your school says your attendance works out to be–if your school considers six hours of classes per semester or term to be full-time, you are considered a full-time student.
Montgomery GI Bill Selected Reserve (MGIB-SR)
- Reservist full-time students will see an increase from $407 to $439.
- Reservist half-time students will see an increase from $203 to $219.
A full-time Reserve member attending on the Montgomery GI Bill Selected Reserve should expect their GI Bill monthly payments to go up to $439, with half-time students getting a COLA increase to put their monthly payment at $219.
Reservists taking undergrad courses on the MGIB-SR have their classroom time calculated as follows:
- 0-2 hours – quarter-time
- 3-5 hours – less than half-time
- 6-8 hours – half-time
- 9-11 hours – three-quarters time
- 12 hours+ – full-time
Graduate students using the Montgomery GI Bill-Selected Reserve are paid based on what your school establishes as a full-time commitment. That means that if your school considers six hours of classes per semester or term to be full-time, you are considered a full-time student in the eyes of the VA.
Survivors’ and Dependents’ Educational Assistance Program COLA Increases
- Full-time students using Survivors’ and Dependents’ Educational Assistance will see an increase from $1,298 to $1,401.
- Half-time students using Survivors’ and Dependents’ Educational Assistance will see an increase from $753 to $812.
A full-time student using the Survivors’ and Dependents’ Educational Assistance program will see their monthly payment increase from $1,298 to $1,401, while a half-time student will see an increase from $753 to $812.
The Survivors’ and Dependents’ Educational Assistance program offers financial help and educational opportunities to qualifying dependents of eligible veterans. If you qualify for this option, you may be able to claim up to 36 months in GI Bill VA education benefits, which must be used for degree-seeking or certification-seeking purposes.
Full-time students attending classes under the Survivors and Dependents Educational Assistance program will see an increase to $1,401 a month, and half-time students will earn $812.
Eligibility for Survivors’ and Dependents’ Educational Assistance Program
To be eligible, you must be the spouse or school-age dependent child of a veteran who meets any of the criteria below, including but not limited to:
- A veteran who is permanently, totally disabled as the result of a service-connected disability;
- A veteran who died as the result of a service-connected disability
- A veteran who died with a VA-recognized service-connected disability, but not necessarily because of it.
- A service member missing in action
- A service member captured in the line of duty.
- A service member is likely to be discharged or released from service for a service-connected disability.
Children must be between the ages of 18 – 26 to qualify. Those on active duty cannot qualify, and typically those who do qualify cannot use the benefit after their 31st birthday.
For spouses, this opportunity has a ten-year window of opportunity, typically set from the time you are declared eligible or 10 years from the veteran’s death.
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About the author
Editor-in-Chief Joe Wallace is a 13-year veteran of the United States Air Force and a former reporter/editor for Air Force Television News and the Pentagon Channel. His freelance work includes contract work for Motorola, VALoans.com, and Credit Karma. He is co-founder of Dim Art House in Springfield, Illinois, and spends his non-writing time as an abstract painter, independent publisher, and occasional filmmaker.
