People join the military and typically plan to use their Montgomery GI bill for attending college or university, in typical educational type pursuits. This is the most typical means that many people use to utilize the MGIB bill benefits. But many veterans do not realize that there are other benefits and things that the Montgomery GI bill can be used for. In 2002, and in the last four years Congress worked to include different provisions when they revised and expanded the Montgomery GI bill. This has been because one of the rich resources that the United States has as a country is in the small business world.
Many people realize that one of the important segment of our economy is the American Veteran, and for this reason Congress has set up provisions in using the Montgomery GI bill program to support small business programs and small business ownership. Small business and Entrepreneur training is offered at many of these small business development centers to help a veteran get a heads start in setting up their own small business.
The benefits under the MGIB are broad based, and support businesses and individuals in using training to support their efforts. Small business owners make up a vital part of our society. Benefits under the Montgomery GI bill can be used to gain training and classes in becoming a small business entrepreneur or small business owner. A large number of people do not know about their Montgomery GI bill benefits, or are not aware that they can use their Montgomery GI active duty benefits to attend college or university classes, or that they can use their benefits to attend vocational or technical school.
You can access portions of your MGIB to receive specific business related and small business training. If you participate in the Top Up program before you leave active duty, you may even be able to increase the available benefits after you separate from the service, increasing them up to $5,400 dollars in some cases. There are many small business Development centers that are located at different spots around the country to help Veterans who wish to become successful small business owners.
If you are called up for active duty or mobilized for more than 180 days consecutively then your ten-year benefit usage clock resets. If you are already a small businessperson this is not a disqualifying factor to using your MGIB benefits for additional training or support of your small business.