As a military member, you can avail yourself of many free advantages and amenities to simplify life. From education opportunities to housing assistance, financial aid programs, and healthcare perks – all the free stuff military members can score is designed to support service personnel in their everyday lives.
Many military personnel are unaware of some of the benefits they are entitled to. Below we explore all the amazing things military members can take advantage of – from discounts on entertainment activities and travel expenses to specialized healthcare plans.
Education Benefits
The GI Bill is one of the essential education benefits for veterans and service members. It offers financial aid to cover tuition, fees, housing, and other educational expenses based on specific criteria. The amount of aid provided depends on factors such as length of service, type of degree sought, or any prior college credits earned. The GI Bill can be an excellent resource for military veterans to finance their educational pursuits.
Tuition Assistance (TA) is another great benefit available to eligible active duty personnel pursuing higher education while still serving in uniform. TA covers up to 100% of tuition costs at accredited institutions and can also provide funding for books and supplies needed for courses taken during off-duty hours.
Housing Benefits
As a veteran, housing is one of the greatest benefits you can receive. From VA home loans to military housing allowances and relocation assistance programs, numerous options are available to help veterans purchase or rent a home.
VA Home Loans
A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA). This type of loan helps veterans and active duty personnel purchase homes with little to no down payment and at competitive interest rates compared to other types of mortgages.
Military Housing Allowance
Veterans can get various housing benefits from the VA and other organizations, such as MHAP, allowing them to obtain cost-effective housing options in the present and future. Having the means to avail of these facilities makes it easier for veterans, no matter if they’re buying their initial residence, or searching for a flat, to make sure that their family has an appropriate place to stay during their service in uniform.
Financial Benefits
Financial benefits are an important part of military life. Military personnel and their dependents can access multiple fiscal advantages, such as tax reliefs, pension funds, and economical credits to assist in budgeting.
Tax Exemptions and Deductions
Military personnel enjoys certain tax exemptions that are not available to civilians. Service members who served in combat zones or hazardous duty areas may be able to exclude their pay from taxes for up to a year after exiting the zone or area. Those in the military may be able to subtract costs associated with official instructions if they surpass what is reimbursed by the state. Additionally, spouses of service members may qualify for special deductions.
Retirement Savings Plans
The military offers several retirement savings options for its personnel, including the Thrift Savings Plan (TSP). The TSP allows military personnel to invest pre-tax funds into a 401(k)-style account, deferring taxation until withdrawal at retirement.
Low-Interest Loans and Credit Cards
Service members often have access to loan products with lower interest rates than what civilians typically receive. Additionally, many banks offer exclusive credit card programs tailored to active duty personnel offering rewards points, bonuses, and other perks, such as waived annual fees and discounted balance transfer rates.
Healthcare Benefits
With healthcare benefits also available to service members, it’s important to understand what kind of coverage is provided by TRICARE health insurance program. As a veteran, you are entitled to some of the best healthcare benefits. TRICARE Health Insurance Program is a comprehensive health insurance plan for veterans and their families, providing coverage for all medical needs from doctor visits to mental health services.
Discounts and Perks
Military personnel can access reduced-price groceries via commissary benefits, helping them save on their grocery budget. Exchange shopping privileges also provide savings on items such as clothing, electronics, and other goods. Service members may be able to get up to 30% off certain items when they shop through the exchange system.
Recreation programs are another great perk available for those serving in the military. These programs offer activities like swimming pools, bowling alleys, golf courses, movie theaters, and more – all at reduced prices or even free.
Conclusion
In summary, military personnel can benefit from various free resources to help them save and simplify their lives. Benefits are available if you need housing assistance, medical treatment, or just want to save on your groceries. With a bit of research, you may be able to find discounts for many services you weren’t aware of.
