Cook the rice according to packaged directions. Transfer to a bowl and set aside.

To a saucepan, add milk and sweetened condensed milk and stir combined.

Add rice to milk mixture and stir. Add cinnamon and heat to a boil. Reduce to a simmer for 15-20 minutes.

Remove from the heat and stir in vanilla.

Transfer to bowls and garnish with cinnamon on top.