Most veterans who participated in the VEAP program, where VA contributes $2 for every $1 contributed by the servicemember, have since converted to the Montgomery GI Bill (Chapter 30).
VEAP eligibility criteria
Must have entered active duty between Jan. 1, 1977, and June 30, 1985
Must have opened a contribution account before April 1, 1987
Must have voluntarily contributed $25 to $2,700
Must have completed at least the first period of service
Must have received a discharge under conditions other than dishonorable
Active-duty personnel must have at least three months of contributions available to use VEAP
What does VEAP cover?
Costs of obtaining a college degree
Costs of certificate, apprenticeship, correspondence or on-the-job training programs
In certain circumstances, remedial, deficiency or refresher classes or training
What is the window to use it?
The maximum entitlement is 36 months of education costs
VEAP must be used within 10 years of discharge from active duty
Leftover contributions
The veteran’s portion of entitlement money not used by the end of the 10-year window will be refunded