For many, Veterans Day is a time of reflection. Putting their lives on the line every day, the brave men and women of the United States Armed Forces are deserving of respect, admiration and appreciation for their service. From the first American soldiers of the Revolutionary War to the future veterans of tomorrow, each November 11 brings to mind family, friends and loved ones who fought to defend their freedoms.
For these veterans, many resources and benefits are available once their periods of service have ended. Ranging from education to health care to financial assistance, these are a few of the most prominent and all-encompassing.
G.I. Bill
Perhaps most famous is the G.I. Bill, a blanket term that refers to several programs designed to provide financial assistance, opportunities and benefits to veterans. While most commonly associated with college tuition expenses, this collection of bills also includes low-cost mortgages, unemployment compensation and low-interest loans.
Originally signed into law by FDR in 1944, the G.I Bill equivalents of today, particularly 2017’s Forever G.I. Bill, have helped tens of millions of veterans on their feet upon return from their service.
V.A. Health Care
Through the Department of Veterans Affairs, veterans can qualify for individualized medical benefits that meet their specific needs. In many cases, these plans are free. Immediate family members of veterans may also partake in these benefits, with different programs in place depending on the kind of care required.
Pensions
For wartime veterans, a pension program exists to supplement retirement income. Veterans who have served in World Wars I and II, Korea, Vietnam, and the Gulf War are candidates for eligibility.
Job Training
The Veterans’ Employment and Training Service (VETS) is an independent agency designed to provide educational and vocational training for veterans to secure and flourish in post-service careers.
This program, housed underneath the Department of Labor, partners with a host of other government agencies to ensure that veterans are equipped with the proper tools and skills for a variety of jobs.
Business and Business Loan Assistance
The Office of Veterans Business Development is an agency within the Small Business Administration that works specifically with veteran entrepreneurs. Enterprising veterans can take advantage of the office’s resources, including financial assistance, training programs, connections to supply chain channels and government contract advantages.
VA Home Loans
While preparing to make the transition from soldier to civilian, finding a suitable place to live should not be an area for concern. Thankfully, the VA offers a comprehensive home loan assistance program covering all bases of the homebuying process.
Some of these benefits include little to no down payments, comparatively low interest rates, no required private mortgage insurance and a limit on the amount of closing costs.
By Ryan Walsh