The Veterans Entering Teaching (VET) Act establishes a program aimed at providing tuition and mandatory fee assistance to eligible veterans pursuing degrees in approved teacher preparation programs at Oklahoma educational institutions. To qualify, veterans must have been honorably discharged from the U.S. Armed Forces and agree to teach in an Oklahoma school district for three consecutive years after graduation. The program outlines specific eligibility criteria, including enrollment in an Oklahoma educational institution, submission of an application, and execution of an agreement detailing the obligations of the participant. Assistance is capped at $2 million per academic year and is contingent upon the availability of funds.

Additionally, the bill creates the Veterans Entering Teaching (VET) Revolving Fund, which will be used to allocate the assistance provided under the program. The fund will consist of legislative appropriations and will be managed by the Oklahoma State Regents for Higher Education. The act also includes provisions for repayment of assistance if participants fail to meet their teaching obligations, with a hardship waiver option available. The VET Act is set to take effect on July 1, 2025, and an emergency clause has been included to ensure its immediate implementation upon passage.