What is the formula for calculating your monthly allowance check?
Multiply $2751 by your percentage (%) of eligibility to determine your monthly rate
(i.e. if you are 90% eligible for the GI Bill, your 2015 monthly rate is $2475.90)
If the month is at the beginning or end of a term, subtract the number of days that school is NOT in session from 30. Keep this number. Divide your monthly rate by 30. Multiply the days by the amount received per day. The answer you receive must then be subtracted from your monthly rate. This figure this is the specific rate you should receive for that month.
(i.e. school is not in session for 12 days. Divide $2475.90 by 30. You will get $82.53. Multiply this number by 12 days. You get $990.36. Subtract this figure from your monthly rate. This amount is the specific rate you should receive for that month).
If your “rate of pursuit” of study is equal to or less than 50% (part-time student status) or if you are on active duty, you are ineligible for the monthly housing allowance.