Most people use the Montgomery GI Bill to provide funding to attend the University or College, and have different successful options that result in using their MGIB funding. But there are options that many people do not take advantage of. There are different opportunities for a person to get training as a small business owner or businessperson was not widely known, nor widely used. The DoD and the US Congress have worked together to expand the opportunities to use your MGIB funds to learn about and become trained as a small business Entrepreneur.
The Montgomery GI Bill has different elements that are not as widely known or utilized that provide elements and support for small business owners. There are a variety of Small Business Development centers that are located across the nation, by groups such as the National Veterans Development Corporation, or others that gives Veterans training in how to participate and run a small business. This type of training that is non traditional is ideal for the returning Veteran to use the MGIB funding. Entrepreneur training and small business training gives Veterans the chance to take classes or enroll in courses that are offered across the nation. These type of courses are still rather new, and the courses themselves have to be approved on a individual case by case business, but it is most definitely worth inquiring about if you are a small business owner or if you have experience in small business. If you were wise and participated in the Montgomery GI Active Duty Buy Up Program, you could even possibly qualify for an additional $5,400 dollars of funding to use in this manner. The United States Congress realized a number of years ago that Veterans that were returning from Vietnam and other conflicts have a wide range of skills and talents, and their experiences are a source of untapped resources. So they worked with the Department of Defense to increase opportunities to use MGIB funding for small business type training.
Some of the things you may be able to use your MGIB funds for include: enroll in a business class, take a business opportunities class, or join a how to start your own business program. If you qualify for using your benefits in this way then it is a great way to get business and small industry training.
