Wednesday, August 1, 2012
COLONEL GREGORY CHANDLER--Military Spouse Career Advancement Accounts
The Department of Defense reopened the Military Spouse Career Advancement Accounts (MyCAA) recently with several key changes in eligibility and dollar amounts.
Below is a summary of the changes:
1. MyCAA is available to spouses of active duty service members in pay grades E1 to E5, W1-W2, and O1-O2. The spouses of activated Guard and Reserve members within those ranks are also able to use the MyCAA. Spouses of Guard and Reserve members must be able to start and complete their courses while their sponsor in on Title 10 orders.
2. MyCAA offers a maximum financial benefit of $4,000 with a fiscal year cap of $2,000. Waivers will be available for spouses pursing licensure or certification up to the total maximum assistance of $4,000.
3. MyCAA requires military spouses to finish the spouse's program of study within three years from the start date of the first course.
4. The MyCAA is limited to associate degrees, certification and licensures.
The MyCAA program provides up to $4,000 (over 2 years) of financial assistance for military spouses who are pursuing degree programs, licenses, or credentials leading to employment in portable career fields.
GREGORY CHANDLER, Colonel, US Army Reserve
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