Veterans’ Education and Training Benefit

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Veterans’ Education and Training Benefit

Post by Wolfman on Mon 12 Feb 2018, 12:10 pm

Effective Date

Implementation of all Budget 2017 initiatives is expected on April 1, 2018.

Background

The Government of Canada is fulfilling its commitment to deliver an education benefit to Veterans by providing a new Education and Training Benefit. The new benefit will provide funding to help support for college, university or technical education to Canadian Armed Forces Regular Force and Reserve Force Veterans with at least six years of military service.

The proposed changes deliver directly on the mandate commitments of the Minister of Veterans Affairs and Associate Minister of National Defence.

The Education and Training Benefit is just one step the Government is taking to improve benefits and the career potential of Canadian Armed Forces members and Veterans

Quick Facts

$133.9 million over six years to create a new Veterans’ Education and Training Benefit to provide up to $80,000 to Veterans in support of post-secondary education.

This new benefit will provide Veterans with funding for college, university or a technical education. Veterans with six years of service may be eligible for up to $40,000 and Veterans with at least 12 years of service may be eligible for up to $80,000 to cover tuition, course materials, and some incidentals and living expenses.

All honourably released Veterans will have up to 10 years following their release date to use the benefit.

Eligible Veterans who released between April 1, 2006 and March 31, 2018 will have up until March 31, 2028 to receive funding under the Education and Training Benefit. Eligible Veterans who release after April 1, 2018 will have ten years from the date of their release to receive funding under this program.

This benefit supports Veterans in achieving their education and future post-military employment goals and positions them to be more competitive in the workforce.

Veterans will not be limited to post-secondary training. If university or college is not their choice, a portion of the total funding earned would be available for career and personal development courses. This could include small business boot camps, continuing education, etc.

VAC has designed the Career Transition Services and the Education and Training Benefit to complement each other and better support Veterans during their transition to post-military life.

The new Education and Training Benefit will come into effect April 1, 2018.

Examples of who could benefit from this change:

Scenario 1


Julie voluntarily released from the Canadian Armed Forces following a 14-year career. She has some university credits from courses she took while serving. Julie would like to complete a university degree and a master program. The Education and Training Benefit will provide Julie with up to $80,000 to cover tuition, books and living expenses. This way, Julie can focus on her education goals and not the cost. After the completion of her studies, Julie would then also be able to leverage the Career Transition Services to help with her job search.

Scenario 2

Stéphane voluntarily released from the CAF after having served for seven years. He has decided that he would like to start his own business and signs up for a small business entrepreneurial course. Stéphane is able to pay the course fee using a portion of the $40,000 he earned under the Education and Training Benefit.

FAQs

http://www.veterans.gc.ca/eng/help/faq/budget#vetb

Infographic

http://www.veterans.gc.ca/eng/about-us/department-officials/minister/budget/education-and-training/education-and-training-benefit-graphic

http://www.veterans.gc.ca/eng/about-us/department-officials/minister/budget/education-and-training/education-and-training-benefit-facts
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Wolfman

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Join date : 2017-12-08

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