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What is the 20 30 month rule?

The rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do. The remaining half should be split up between 20% savings and debt repayment and 30% to everything else that you might want.

How do you know if you qualify for an active duty kicker?

The Kicker is an incentive, not an entitlement, so youll need to be qualified in order to receive the benefit. The Kicker is paid in conjunction with a basic Montgomery GI Bill benefit, and eligibility can be established only if youre eligible for the MGIB-SR, Chapter 1606, or MGIB-AD, Chapter 30, programs.

How much is the GI Bill for reserves?

Months 1 to 6: $329.25 for each full month. Months 7 to 12: $241.45 for each full month. After the first year: $153.65 for each full month.

How much is it to pay for Selected Reserve GI Bill?

Well pay you up to the monthly rate listed here based on your scheduled clock hours per week: Full-time enrollment: $439.00 for each full month. 3/4-time enrollment: $329.00 for each full month. 1/2-time enrollment: $219.00 for each full month.

How does a reservist get his veterans status?

As long as you were deployed on active duty for at least 180 days and you didnt get a dishonorable discharge or a bad conduct discharge coming off those orders, then you could be considered a veteran, said Army Sgt.

What is the 20 30 month rule?

The rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do. The remaining half should be split up between 20% savings and debt repayment and 30% to everything else that you might want.

Can I get my Montgomery GI Bill money back?

You have 10 years to use your Montgomery GI Bill (MGIB) benefits after you separate from the military. If you dont use your benefits in this time frame, you may be able to get a refund of part or all of your payments into this program.

Who is a member of the Selected Reserve?

The Selected Reserve is the most readily available group of Army Reserve Soldiers. The Selected Reserve is comprised of Troop Program Units (TPUs), Active Guard and Reserve (AGR) Soldiers and Individual Mobilization Augmentees (IMAs). In the event of an emergency, all members of the Selected Reserve can be mobilized.

What is DD Form 2366?

PRINCIPAL PURPOSE(S): To document the understanding of members about their eligibility or lack of eligibility for benefits under the Montgomery GI Bill Act of 1984 (MGIB) and document a members election to decline enrollment for benefits under the MGIB.

How many years do you need to be in the military to give your GI Bill away?

All of these must be true: Youve completed at least 6 years of service on the date your request is approved, and. You agree to add 4 more years of service, and. The person getting benefits has enrolled in the Defense Enrollment Eligibility Reporting System (DEERS).

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Got questions?

What is the 20 30 month rule?

How do you know if you qualify for an active duty kicker?

How much is the GI Bill for reserves?

How much is it to pay for Selected Reserve GI Bill?

How does a reservist get his veterans status?

People also ask

What is the 20 30 month rule?

Can I get my Montgomery GI Bill money back?

Who is a member of the Selected Reserve?

What is DD Form 2366?

How many years do you need to be in the military to give your GI Bill away?

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