Army recruitment is as robust as ever, with over 33.4 million young Americans currently enlisted for military service. It widened its sights for 2020 as well, with a 68,000 recruitment goal. Because of this, the army is also trying to look for alternative recruitment methods, providing opportunities for future careers in tech and medicine. There’s also the opportunity to gain tuition benefits for college. The driving factor for enlistment, however, is having a relative or friend who joined the military beforehand.
The New York Times found that communities with mentors, teachers and coaches who were veterans had more youths that enlisted. As such, it’s mostly apparent in Southern states, like Texas, Alabama and Georgia, where a lot of military installations are located. Another selling point of joining the Army is the veteran assistance benefits. If you’re planning to join the military or you’re fresh off your service, you need to know all you can about VA benefits so you can take full advantage of them
Here’s what you need to know about the benefits you’re entitled to.
1. Training and education
While education opportunities aren’t necessarily the most prevalent reason for enlistment, they’re still attractive perks for people who want to launch a career outside of the military.
A variety of benefit programs are available for veterans:
- Post-9/11 GI Bill
This provides veterans and service members with up to 36 months of educational benefits. These can include funds for your school tuition and miscellaneous fees, books, supplies, and even housing. You’re eligible for these benefits if you have the following requirements:
- Must have served in the army for at least 90 days of qualifying service after September 10, 2001
- Must have been honorably discharged from active duty at least 30 days after September 10, 2001.;
What’s great about this bill is that if you don’t want to use your benefits, you can transfer them to your spouse or children. However, you must use the benefit within 15 years from your last day of active duty. It’s better to use it sooner, rather than later.;
- Montgomery GI Bill-Active Duty (Chapter 30)
This provides up to three years of financial assistance for your educational expenses. This can include vocational or technical training, apprenticeships, or college. The money is paid to you every month. You can activate your MGIB-AD during or after your active duty. You need to use this benefit within a decade of your last active duty.
- Reserve Educational Assistance Program
Also known as Chapter 1607, this also provides up to 36 months of educational benefits. This extends the program to those in reserve units and full-time members of the National Guard.
These are the popular educational benefits for armed forces veterans because of their versatility. There are also specialized benefits like the Montgomery GI Bill-Selected Reserve, Post-Vietnam Era Educational Assistance Program, and Survivors’ and Dependents’ Educational Assistance. It’s best to contact your local VA office to learn about these benefits in depth
2. Housing assistance
A mortgage is always on every house hunter’s checklist. Housing benefits help service members and veterans to buy a home or refinance their mortgages at good rates. You should still find a lender with the best mortgage prices,so you save more money. Their surviving spouses may also be eligible for this perk. There are various loan types offered for army veterans.
These include:
- Cash-out refinance – This lets you replace your current plan with a new one with different terms. You still need to meet credit score standards and have a certificate of eligibility to claim this benefit.
- Purchase loan – This lets you get a mortgage for your dream home with no down payment for as long as the price isn’t higher than the property’s appraised value. You also get better terms and interest rates than loans from banks, lenders, or credit unions.
- Interest rate reduction refinance loan – If you have an existing VA mortgage and you want to reduce your monthly fee, you can use this benefit to replace your current loan or get a new one with different terms.
- Native American direct loan – If you’re a Native American serviceman or a veteran married to a Native American, you may be able to get a loan to build or improve a house on federal trust land. This depends on your eligibility, as you also need to meet credit standards and have an agreement with your tribal government.
3. Health care benefits
The VA provides a variety of health care benefits. Its healthcare services cover hospital, dental, pharmacy, diagnosis, outpatient and prosthetic services. You can also get non-medical services to support your possible treatment, like transportation, caregiver support, and travel benefits. The VA also has a specialized system for prescriptions, so you can order refills and track your package all online. The Veteran Affairs department of the army provides a trove of benefits during and after your military service. These three are the main services you can claim to make your life and finances much easier. With the risks you had to face while you were enlisted, it’s only right that you have access to them.
No comments yet.