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SBA makes most loans under its Loan Guaranty
Program. The money is advanced by the bank or other
lending institution,
with SBA guaranteeing
up to ninety
percent of the total amount.
Information
on any of SBA’s programs is available
from any of its national
network
of about
100 field
offices.
,
DEPARTMlENT
OF VETERANS’
AFFAIRS
This section contains a brief discussion about the
VEGIB,
VEAP,
the MGIB,
all which
are federally
legislated
Educational
benefit programs.
Vietnam
Era GI Bill
The VEGIB was an educational
assistance program
available
to eligible individuals
with service between 1
February
1955 and 31 December
1976. This program
was terminated
on 31 December
1989. On 1 January
1990, eligible
members were converted
automatically
from the VEBIB to the MGIB. For an individual
to have
been
eligible
for
conversion
to the
MGIB,
that
individual
was required to have remaining
entitlement
under the VEGIB
on 31 December 1989.
Veterans’ Educational
Assistance
Program
The VEAP was a voluntary
contributory
education
benefit
plan available
to those service members who
entered active duty on or between 1 January
1977 and
30 June 1985. The VEAP was terminated
1 April
1987
after which time no new enrollments
were allowed.
Montgomery
GI Bill
The MGIB
is an educational
assistance
program
available
to those individuals
who meet the following
criteria:
1. First
entered on active duty on or after 1 July
1985
2. Are entitled
to education
benefits
under the
Vietnam
Era GI Bill,
and who satisfy certain
eligibility
criteria
3. Enlist,
reenlist,
or extend
an enlistment
as a
drilling
Reservist
for service in the Selected
Reserve (SELRES) for a period of not less than
6 years on or after 1 July 1985
The SELRES
GI Bill
replaces
the educational
benefits program provided for in Title 10, United States
Code, chapter 106.
For information
on the application
procedures for
receiving
benefits
from
participation
in
these
educational
benefit
programs
by eligible
individuals,
refer to the Federally
Legislated
Educational
Benefit
Programs,
OPNAVINST
1780.3.
Also,
when
counseling
members concerning
educational
benefits
who
are
eligible
for
the
educational
programs
mentioned here, and you are unable to answer some of
the questions the member ask, refer them to the-nearest
Navy Campus Office and/or the Department
of Veterans
Affairs
(DVA)
office.
Refer to the chapter
15 of the
Retention
Team
Manual,
NAVPERS
15878
for
additional
information
concerning
other
veterans’
benefits.
SURVIVOR
BENEFITS
This
section
contains
a discussion
on survivor
benefits
to include
the death gratuity,
Servicemen’s
Group Life Insurance,
Veterans’ Group Life Insurance,
Dependency
and Indemnity
Compensation,
Social
Security, and the Survivor
Benefit Plan.
DEATH
GRATUITY
Death gratuity
is a lump sum payment that is made
to eligible
survivors
immediately
upon
death
of a
servicemember. It is designed to assist the family until
other regular monthly
payments start. The payment is
a lump sum amount of $6,000.00.
Servicemembers
must be on active duty, annual
training,
inactive duty training
or traveling
en route to
or from such duty when death occurs, or die within
-120
days after discharge
or release from active duty of a
service-connected
cause as determined
by the DVA.
Eligible
survivors
are listed as follows:
1. Widow or widower.
2. Children
(receive equal shares).
3. Parents, “persons in loco parentis,” or brothers
and sisters when designated by the member on
the page 2 of the service record. When -parents
are designated, they receive equal shares as is
the case with brothers an sisters.
Death gratuity
is paid to the living
survivor highest
on the above list. Refer to the Retention Team Manual,
and part four, chapter 5, of the Department
of Defense
Financial
Management
Regulation
(DODFMR)
Military
Pay, Policy, and Procedures, Volume 7, part A,
DOD 7000.14-R, for additional
information
concerning
death gratuity.
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