Photo by Craig Adderley from Pexels
44 percent of all veterans deal with financial strain long after discharge from the military, according to a survey conducted by Blue Star Families. Those fortunate enough to have family look after them in their twilight years have some relief from this stress. But for those who do not have many people to lean on, things can get a lot tougher as they get older. If you’re a senior veteran who is having trouble juggling finances, read on to find out how you can get support for yourself and any dependents you might have.
Resources for hardship relief
Every veteran is entitled to financial benefits from Veteran Affairs. But many former servicemen are all too familiar with all the hangups that keep them from receiving these benefits. Fortunately, organizations such as the American Legion offer cash grants to veterans with minor-aged dependents. If you don’t have dependents, there is also The Coalition to Salute Americans, as well as Operation First Response. These organizations are committed to providing emergency financial assistance to struggling veterans. Just tell them what you are dealing with, whether it be eviction or utility shutoffs, and they will find a way to get you the help you need.
Housing support options
Aside from a pension, the VA also offers veterans home loans to allow veterans to refinance or improve their homes. These loan guarantees are more reliable than the VA’s financial grants because the VA outsources these loans to private lenders. These lenders primarily cater to veterans, so you will be given every accommodation.
However, as with any loan, your credit score still factors into how fast you can get approved for a loan and how much you can borrow. So it’s best to learn how to boost it if you haven’t already. If you think a loan might be too much to bear but have friends that are willing to help, they can assume responsibility for the loan through the VA Loan Assumption program. Otherwise, you can connect with USA Cares, an organization committed to ensuring that American veterans are guaranteed secure housing, as well as other needs. With a pool of $10 million in grants and counting, they are one of the best-equipped organizations to help veterans with minimal means.
Assistance for disabled veterans
A lot of the financial disadvantages that veterans experience after leaving the military stem from physical disabilities. This is what led to the growth of Disabled American Veterans, an organization dedicated to ensuring that vets with disabilities can live as comfortably as possible. The services they offer cover a wide range of veterans’ needs, such as housing, education, and healthcare. But they also specialize in bringing veterans the care they need with applications for all kinds of services. Claims for disability compensation frequently go wrong, so it is important to contact a VA disability attorney to ensure that you receive all of the compensation and benefits that you are entitled to.
Every veteran deserves to be repaid for their service to their country. But between bureaucratic delays and the sheer number of veterans that need to be taken care of, government help can end up being insufficient. Fortunately, a lot of dedicated individuals and organizations are here to ensure that no veteran has to live out the remainder of their life unrewarded.
Senior Outlook Today is your go-to source for information, inspiration, and connection as you navigate the later years of life. Our team of experts and writers is dedicated to providing relevant and engaging content for seniors, covering topics such as health and wellness, finances, technology and travel.