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A Servicemember’s Guide to Student Loan Interest Rates
Since August 14, 2008, the Higher Education Opportunity Act has also made it possible for servicemembers to use the SCRA to have their interest rate reduced to six (6) percent on federal student loans that were taken prior to their entry into active duty.
Veterans Guide to Education Benefits
The Montgomery G.I. Bill (“GI Bill”) was passed after World War II. The purpose was to give returning veterans a chance to go to college or get vocational training. The program has existed - and expanded - ever since. It has helped thousands of veterans.
Chapter 30 - Active Duty GI Bill (MGIB)
Chapter 30, officially known as The Montgomery GI Bill Active Duty (MGIB), provides up to 36 months of education benefits for eligible servicemembers. Learn more about it in this article.
Chapter 32 – Veterans Education Assistance Program (VEAP)
Veterans Education Assistance Program (VEAP) is available only to veterans who elected to make VEAP contributions from their military pay. Under this program, the VA will match every $1 contributed with $2.