For those who are thinking about enlisting, for active military, and even for retirees, service in the armed forces affords specific benefits. Of course, both active military and alumni receive high accolades and public admiration, but some of the most significant incentives for joining the military are financial. Educational benefits, job placement programs, housing assistance, and investment programs each are available to reward military personnel for their dedication and service. The following are the four best benefits of joining the military.
Because of the implementation of the Post 9/11 GI Bill, serving in the military offers educational incentives and reduced tuition costs for military personnel. As long as you have served 90 days actively in the military, the government will reward you by paying full tuition and fees at state schools in addition to granting financial assistance for additional certifications and training programs. Furthermore, to alleviate the costs of education, beneficiaries of this bill can receive housing allowances, stipends for books and supplies, and options for transferring these educational benefits to family members. No matter what age you are after you return from service, remember that no one is too old to acquire an education.
Job Placement and Security
Joining the military grants access to one of the most challenging and respected jobs in the nation. After actively serving, the military can help individuals find access to steady and lucrative sources of employment. The Army Career and Alumni Program offers professional job-hunting services in order to help soldiers return to civilian life. What’s more, serving in the military provides you with a network of military alumni in a range of job sectors. Job counseling services can help you get in touch with successful former military members, and based on education and job requirements, your chances of being hired in a lucrative career that you are passionate about could be much higher.
Reduced Mortgage and Living Expenses
The military offers many benefits to help those find and maintain housing as well as facilitate the process of relocating. While living on a base during active duty, military members and their families will not have to worry about the costs of housing, utility bills, and even transportation. Some may even receive a monthly stipend to alleviate the costs of food and other necessities. What’s more, upon returning home, real estate services appointed by the military can help get you into your dream home faster. VA loans for home buyers drastically reduce the cost of homeownership. VA loans can help homebuyers avoid down payments and mortgage insurance. In addition, these loans offer competitive interest rates, relaxed credit requirements, and they can even limit closing cost ceilings upon the finalization of sales.
One of the best financial incentives for joining the military is access to investment opportunities. Programs like the Federal Thrift Savings Plan allow military members to invest in low-cost mutual funds that for retirement purpose can result in long-term and tax-deferred yields. Placing your money in special accounts reserved for military service will ensure both you and your family’s financial future and a comfortable retirement.
The financial benefits of joining the military are not just limited to the four provided through this list. Plenty of other establishments, from small local shops to large enterprises, find ways to reward the military for their time, dedication, and service to our country.