Some veterans do not realize that there are other benefits and things that the Montgomery GI bill can be used for. Small business owners make up a vital part of our society and a important segment of our economy. There are many small business Development centers that are located at different spots around the country to help Veterans who wish to become successful small business owners.
You can access portions of your MGIB to receive specific business related and small business training. There is only a ten-year time limit from the date of your last military separation, if you are called up for active duty or mobilized for more than 180 days consecutively then your ten-year benefit usage clock resets. After many years they realized that one of the rich resources that the United States has as a country is in the small business world. For this reason Congress has set up provisions in using the Montgomery GI bill program to support small business programs and small business ownership. There are also different ways that you can sometimes help yourself to increase your benefits before you leave the military service. Using Top Up program before you leave active duty, you may even be able to increase the available benefits after you separate from the service, increasing them up to $5,400 dollars in some cases. There used to be a time when people who owned small businesses were left out in the cold when it came to different types of Vocational assistance, or Veterans Administration support. There were just not any options for those people who wanted to utilize their Montgomery GI Bill benefits to help them in their goals of furthering their small business, or accomplishing different vocational goals other than attending college or university in the traditional manner. Benefits under the Montgomery GI bill can be used to gain training and classes in becoming a small business entrepreneur or small business owner. Congress has written legislation with different provisions to allow Veterans to use portions of their VA Montgomery GI bill for small business training and support.
Much of this has changed, and it has been established that not everyone is the same, and that having a one-size-fits-all approach to Veterans Benefits or the MGIB is the wrong approach, and it sorely misses opportunities to support and aid small business owners and their needs.