Improving Veterans' Opportunity in Education and Business Act of 2008

Improving Veterans' Opportunity in Education and Business Act of 2008 - Requires that, if the Secretary of Veterans Affairs enters into a contract or other arrangement, on or after June 1, 2007, to acquire goods or services (or both), the Secretary shall include in such contract or arrangement a requirement that the contractee comply with Department of Veterans Affairs (VA) contracting goals and preferences with respect to small businesses owned and controlled by veterans and service-disabled veterans. Directs the Secretary to modify current contracts and arrangements to comply with requirements of this Act.

Requires the Secretary to conduct a five-year pilot project to test the feasibility and advisability of expanding the scope of VA workstudy activities to include workstudy positions available on site at educational institutions, including positions in academic departments and in student services. Authorizes appropriations.

Directs the Secretary to carry out a program of job training in skills relevant to the job market for discharged veterans who are either currently not paid at more than 150% of the federal minimum wage, or: (1) had a military occupational specialty of limited transferability to the civilian job market; (2) are not otherwise eligible for veterans' education or training services; (3) have not acquired a marketable skill since leaving military service; (4) were discharged under conditions not less than honorable; and (5) have been unemployed for at least 90 of the previous 180 days. Designates the program as the MOST (military occupational specialty transition) Program. Directs the Secretary to contract with employers to provide programs of apprenticeship on on-job training for such veterans. Limits such payments to $20,000 per veteran and 24 months in duration. Requires quarterly employer reports certifying wages paid to such veterans. Authorizes appropriations. Requires the Secretary to describe Program activities within a currently-required annual report by the Veterans Benefits Administration.