United States Veterans Researching Options for Financial Assistance

United States Veterans Researching Options for Financial Assistance

December 22, 2020
Twitter Logo Facebook Logo Pinterest Logo
United States Veterans Researching Options for Financial Assistance

Some of the links on this page may be from our sponsors. We provide you with helpful information and access to resources. Learn more about our mission and advertising.

Many United States veterans struggle when their military career is over. In fact, the federal government estimates that more than 40,000 veterans are homeless on a given night.

Our veterans struggle with physical and mental disabilities. For example, many have Post Traumatic Stress Disorder (PTSD) or depression from their service.

These disabilities often lead to financial issues. Some veterans struggle to hold a job or cannot find work.

The good news is that there are many assistance programs for veterans. Are you researching options for financial assistance?

Read on to learn about financial assistance for veterans. Explore government programs that help veterans get back on their feet.

Housing Assistance

One of the government's primary objectives is to provide housing to veterans. The Department of Veteran's Affairs (VA) and Housing and Urban Development (HUD) share this mission.

The VA and HUD have a housing voucher program to help veterans pay rent. In a single year, these government agencies hand out nearly 80,000 rental vouchers to veterans.

The VA also guarantees mortgages for veterans. This allows veterans to secure low-interest rates and more favorable terms than a traditional bank. For instance, a VA mortgage does not require a down payment or mortgage insurance.

Food Assistance

The next priority for veterans is that their nutritional needs are met. Many vets use the Supplemental Nutritional Assistance Program (SNAP) for their food needs. This program, formerly food stamps, extends to veterans' families as well.

Roughly 1.3 million low-income veterans use the SNAP program. There are also private food banks and local programs designed to help veterans.

Health Care

The VA provides health care for veterans. There are VA medical facilities and hospitals located throughout the country.

Here, veterans can get regular checkups and preventative care. They can also see a specialist like a cardiologist or gynecologist.

Any veteran that served 24 continuous months is eligible for VA health care. There are some instances where you can meet eligibility serving less than 24 months.

Veterans that were discharged for hardship are eligible. Others discharged for a disability made worse by their service also qualify. Lastly, veterans that served prior to 1980 also qualify.

Student Loans and Employment

The federal government wants our veterans to receive education and find gainful employment. There are many programs designed to help veterans get tuition or student loan assistance.

The GI Bill and Public Service Loan Forgiveness Program are two examples. We recommend inquiring with a college's financial assistance office to see what programs or grants you are eligible for.

For employment, federal and state governments have a veteran's preference for hiring. Disabled veterans can be hired via Schedule A to eliminate competition for a job.

A Recap of Researching Options for Financial Assistance

Times are hard for our veterans. The Covid-19 pandemic has only increased feelings of isolation and hopelessness. However, there are so many great programs out there to help.

Whether it is housing or food assistance, a thankful government is there to meet your needs. If you enjoyed this article about researching options for financial assistance, check out our assistance blog for more great content.

Subscribe

Ready to find top-notch financial resources tailored to you?

Let's personalize your experience!

Privacy Policy