VA Loan Updates

The U.S. Department of Veterans Affairs is expanding eligibility for education benefits to National Guard members and reservists serving multiple deployments.

They previously had to serve two years on active duty without a break to qualify for the maximum education benefit.

Now those who serve three years on active duty, regardless of breaks in service, will be eligible for maximum benefits.

Also, benefits will be available for 10 years following active duty to members who complete their service.

The top payment under the Reserve Education Assistance Program is $880.80 a month.

The new rules are retroactive to October.

The money was made available as part of the National Defense Authorization Act, said Secretary of Veterans Affairs James B. Peake.

In fiscal 2007, more than 60,000 members of the National Guard and the reserves received payments under the education assistance program, an announcement by the VA said Monday.

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