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What does SRIP stand for?

SRIP stands for Select Reserve Incentive Program

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The Selected Reserve Incentive Program (SRIP) was established to help reduce attrition rates of service members with specialized skills throughout the DoD. Each section of the military has a slightly different incentive program for their Selected Reserves. However, all of the programs follow basically the same rules.
Montgomery GI Bill - Selected Reserve Kicker Incentive Program.