VA Loan Updates

WASHINGTON, D.C. – U.S. Senators Chuck Hagel (R-NE) and Jack Reed (D-RI) today introduced the “Veterans and Survivors Employment and Training Act of 2007.” This legislation would make school more affordable to veterans, survivors, and dependents pursuing an education in high tech fields. The bill would expand the education programs that are eligible for accelerated payments under the Montgomery GI Bill, and provide the benefit to recipients of the Survivors’ and Dependents Educational Assistance Program (SDEAP).

“America’s service men and women make tremendous sacrifices in service to our country. As policymakers, we have an obligation to ensure they have the resources they need to pursue their education. This legislation will make it easier for veterans, and the families of veterans killed or permanently disabled in service to our country, to afford higher education and expand the much needed high tech workforce in our country,” Hagel said.

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The 10-year window for using GI Bill education benefits after leaving active-duty service would be eliminated under a bill introduced Tuesday in the Senate.

The chief sponsor, Sen. Maria Cantwell, D-Wash., said the 10-year limit is outdated and could be part of the reason why up to 60 percent of veterans who have earned GI Bill benefits do not use them.

“After leaving the military, some service members postponed going to school because they had to go straight to work,” she said. “Others, unfortunately, were either homeless or incarcerated for long periods of time due to disability associated with military service but are now ready to move forward in their lives. Going back to school is their first step.”

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