Eligibility For An AB Loan

Only US Service Personnel who are presently in active sevice and/or discharged honorably are eligible for AB Loans. The Service Personnel include those from the Army, Air Force, Navy, Coast Guard, Marine Corps, the National Guard and the Reserves.

There is a restriction placed with regard to specified periods of time for eligibility although those who had served during wartime as well as peacetime are eligible

YOU BECOME ELIGIBLE if you had enlisted for service and if your actual date of commencement of service is ON OR BEFORE September 7 1980; OR if you had been an Officer and your actual service had commenced ON OR BEFORE October 16, 1980; further subject to having served honorably for

• a period not less than 90 of which some part had been during wartime; or for
• a period not less than 181 days during peacetime

YOU MAY BE ELIGIBLE if you had enlisted for service and if your actual date of commencement of service is AFTER September 7 1980; OR if you had been an Officer and your actual service had commenced AFTER October 16, 1980; further subject to having served honorably for

• a continuous period not less than 24 months
• the entire period for which you were ordered to active duty, subject to 90 days or more (any part during time of war) or 181 days (continuously during time of peace
• a period not less than 6 years as a Member of the National Guard or Reserves (for more information, please see below)

 You may also claim eligibility under the following circumstances:

• If you were discharged for a disability connected with the service.
• If you were discharged at the sole pleasure of the government after you had completed at least 20 out of 24-month enlistment.
• If you had completed 90 days (any part during wartime) or 181 days continuously during peacetime.
• If you had been discharged due to some hardship.
• If you were found to be having a disability connected with the service.
• If you had been released or discharged from active duties for some medical condition that has existed prior to joining the service although it has been found to be not affecting the service.
• If you had been released or discharged from active duties as a result of a government policy of retrenchment of service personnel.
• If you had been released or discharged from active duties for an alleged physical or mental condition not recognized as a disability; or a consequence of misconduct; and also not found to be detrimental to the proper performance of your duties.
• If you have not re-married after being widowed from a veteran who had died while serving; or as consequence of a disability sustained while in service.
• If you are the legal spouse of a serviceperson who is deemed or known to be missing in action to to have been taken prisoner of war.

Service Personnel Still On Active Duty

You are eligible, if you are still in active duty having completed not less than a continuous period of 90 days of active duties. If you have had no part in wartime service, you will be required to establish having served for a continuous period not less than 181 days once an end date is established for the Persian Gulf War Service.   

Selected Reserve Members

This term refers to a section of “Selected” reserve personnel from the Reserve of the broader Ready Reserve that comprise of individuals and units that actively participate annually in periods of paid training and/or serve on active paid duty. This would include personnel from the Army, Air Force, Navy, Air National Guard, Marine Corps, Army National Guard and the Coast Guard Reserves.

6-Year Requirement:  Any veteran who may not be otherwise eligible may qualify after completing a period of 6 years in the Selected Reserve (although not necessarily on active duty) subject to the further fulfillment of the under mentioned requirements:

• should have been honorably discharged
• had been placed on the list of retirees
• had been transferred to another component of the Ready Reserve except the Selected Reserve after an “honorable service” in the Selected Reserve; or the Standby Reserve
• is still serving in the Selected Reserve

It is not necessary that the 6 year period of service is continuous. Neither is it necessary that the service should have been in the same particular Reserve or the Unit of the National Guard. However, in making up the 6 year period, combining active duty military service with Reserve Service is not allowed.

It may also be necessary to establish Eligibility for:

• US citizens who had served in the armed forces during the World War II with any government allied with the US.

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• an individual who had served in the capacity of a cadet/midshipman of a service academy or a member of an organization such as the Public Health Service, Merchant Seamen, the National Oceanic and Atmospheric Organization etc.