There are a number of programs that help veterans and Servicemembers who want to further their education. These programs are for the most part administered by the Veterans Administration, and they provide different sources of funding for educational benefits. There are three different main options for VA assisted education: The Veterans Education Administration program (VEAP), the Reserve GI Educational Assistance Program (REAP), and the Montgomery GI Bill for both Reserve and Active duty servicemembers.
Veterans Administration Education program- The VEAP program is a program that allows a Servicemember to put money into an account for education and have it matched on a 2 for 1 basis. For every dollar that the Servicemember puts in the government contributes two dollars. The VEAP program can be used for flight training, apprenticeship, correspondence courses, as well as college and university training. It can also be used for deficiency refresher and remedial courses in some situations. Montgomery GI Bill- If you are an Servicemember on active duty, or a veteran with at least 2 years of active duty service you can be eligible for the Montgomery GI bill. You contribute money, normally $100 dollars a month toward your education. You contribute for the first year and then are eligible. You must have a high school diploma and have been honorably discharged.
The MGIB provides veterans and active duty Servicemembers benefits that amount to more than $38 thousand dollars. This is tax-free money that is available for living expenses, fees, books, and tuition while you work and earn your degree. If you attend school you will receive a different amount of money depending on the amount of involvement you have. If you attend full time you will receive a little more than a thousand dollars, $1101 dollars for full time attendance, three quarter time attendance you can gain up to $825 dollars, and for half time credit you can receive $550 dollars. If you attend ¼ time at least you earn $275 dollars, each level is levied according to your level of attendance.
While there are elements of the MGIB that apply for reservists, there is also a program strictly for the Reserves. The Reserve Education Assistance Program was put into effect after September 11th, 2001. This is known as the REAP program, and it is for reservists to use for educational purposes. You can receive $880, $660, and $440 dollars, for either Two years, One or more consecutive years, or 90 or more days consecutively, respectively.