More than $300 million belonging to veterans could be unclaimed, and the VA is currently seeking out the veterans who may be owed refunds.
The refund is for those who made GI Bill contributions through the Veterans’ Educational Assistance Program (VEAP). The VEAP program was available to active-duty military personnel who served between Jan. 1, 1977, and June 30, 1985. It came before the Montgomery GI Bill.
A requirement of the VEAP program was that military members had to pay $2,700 of their own money to participate. In return for every $1 the military member put in, they would be matched $2 by the government.
But there were lots of veterans who didn’t use their full GI Bill benefits, and they may now be owed a refund for the unused portion of their $2,700 contribution.
However, veterans who participated in the VEAP program and used only a portion of their GI Bill — or who didn’t use it at all — may be due a refund of their original $2,700 contribution or of the unused portion of it. Since the VEAP program closed to new participants in 1985, the VA may be attempting to close out the program, which hasn’t paid out any benefits in a number of years.
The VA is trying to locate veterans who may be eligible for the refunds. The next-of-kin also may receive the refund if the veteran is no longer living. The letter notifying schools of the refunds was posted to social media.via Military.com
If you participated in the VEAP program and think you may be due for a refund, please contact the GI Bill hotline at 888-442-4551. You can claim your refund at any time, as there is currently no deadline for getting the money.