Montgomery GI Bill – Selected Reserve      Members of reserve elements of the Army, Navy, Air Force, Marine Corps and Coast Guard, and members of the Army National Guard and the Air National Guard, may be entitled to up to 36 months of educational benefits under the Montgomery GI Bill (MGIB) – Selected Reserve. To be eligible, the participant must:      1.  Have a six-year obligation in the Selected Reserve or National Guard signed after June 30, 1985, or, if an officer, agree to serve six years in addition to the original obligation.      2.  Complete initial active duty for training.       3.  Have a high school diploma or equivalency certificate before applying for benefits.       4.  Remain in good standing in a Selected Reserve or National Guard unit. Reserve components determine eligibility for benefits. VA does not make decisions about eligibility and cannot make payments until the reserve component has determined eligibility and notified VA.      Period of Eligibility: Benefits generally end the day a reservist or National Guard member separates from the military. However, if you leave the Selected Reserve, you may still be eligible for a full 10 years from the date of eligibility (if eligible before Oct. 1, 1992), or a full 14 years from the date of eligibility on or after Oct. 1, 1992.  Veterans may be eligible if separated because of a disability that was not caused by misconduct, the unit was inactivated, or otherwise involuntarily separated during Oct. 1, 1991, through Dec. 31, 2001.      If in the Selected Reserve and called to active duty, VA can generally extend the eligibility period by the length of time on active duty plus four months.  Once this extension is granted, it will not be taken away if you leave the Selected Reserve. Payments: The rate for full-time training effective Oct. 1, 2007, is $317 a month for 36 months. Part-time benefits are reduced proportionately.       Training: Participants may take undergraduate or technical training at colleges and universities. Those who have a six-year commitment beginning after Sept. 30, 1990, may also take the following training: graduate courses; State licensure and certification; courses for a certificate or diploma from business, technical or vocational schools; cooperative training; apprenticeship or on-the-job training; correspondence courses; independent study programs; flight training; entrepreneurship training; or remedial, deficiency or refresher courses needed to complete a program of study.