1. Housing Benefits
One of the major financial benefits to serving in the U.S. military is the extensive housing benefits. Those who have large families and need more space will get larger benefits than those who are single or have small families. The U.S. military will give a housing stipend to those in service for their rent if they are not about to purchase a home. If they do want to purchase a home those in military service qualify for VA loans. VA veterans loans allow a lower down payment than traditional loans and very favorable percentage rates. VA loans operate very similarly to FHA loans but only require that the home buyer be in the military.
2. Sign Up Bonuses
During particularly tumultuous times it is not uncommon for the military to offer significant sign up bonuses for new military recruits. These bonuses can range from a few thousands of dollars to something far more substantial depending on how the recruit tests when initially being placed. Recruits that are going directly into officer positions often have much higher signing bonuses than ordinary recruits.
3. Education Costs
Many recruits join the military specifically because of the funds they offer for education. The military will fully fund a recruit’s college education and will often pay off educational loans that the recruit took out before joining. These educational costs can exceed tens of thousands of dollars. Many branches of the military also offer exceptional on the job training and the ability to work towards a degree during ordinary service. The air force has one of the best universities in the nation and has many different training courses. Usually a recruit can finish their college degree by the time their service is done which allows them to enter directly into the workforce as a skilled applicant.
4. Discounts and Deals
Military recruits can also take advantage of many discounts and deals throughout retail stores. Many deals may require that the military recruit ask about it or request it but military discounts are extremely pervasive. Even fast food restaurants often offer discounts to the military and these discounts cam be extremely important when the military recruit is based in an area that has higher prices than they are used to. There are many locations in which a military recruit may find themselves and their family that has both higher grocery prices and restaurant prices than the family is used to and military discounts can help significantly. Furniture stores are another location that often offer discounts or special financing to members of the military.