VEAP was an educational assistance program that required servicemembers to make contributions from their active duty pay, the military would then make matching contributions at a rate of $2 for every $1 you contributed. The following is a summary of the VEAP.
VEAP is only available to those who made monetary contributions to the program. The government matches your contributions on a $2 for $1 basis. You may use these benefits for degree, certificate, correspondence, apprenticeship/on-the-job training programs, vocational flight training programs, high-tech training, licensing and certification tests, entrepreneurship training, certain entrance examinations, and correspondence courses. In certain circumstances, remedial, deficiency, and refresher training may also be available.
Benefit entitlement is one to 36 months depending on the number of monthly contributions. You have 10 years from your release from active duty to use VEAP benefits. If there is entitlement not used after the 10-year period, your portion remaining in the fund will be automatically refunded.
To qualify, you must meet the following requirements:
- Entered service for the first time between January 1, 1977 and June 30, 1985
- Opened a contribution account before April 1, 1987
- Voluntarily contributed from $25 to $2,700
- Completed your first period of service
- Were discharged or released from service under conditions other than dishonorable.
If you are currently on active duty and wish to receive VEAP benefits, you must have at least three months of contributions available.
Contributions may be withdrawn if you do not meet the basic eligibility requirements or if you formally request a refund of the contributions withheld.
If you wish to withdraw your contributions from VEAP, obtain and complete VA Form 24-5281, Application for Refund of Educational Contributions, and send it to your nearest VA regional office.
Contact your local VA Regional Office for additional assistance by dialing the toll-free number, 888-442-4551.
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