What are the financial benefits of a military career?

What are the financial benefits of a military career?

Life in the army is challenging and adventurous. Soldiers take part in military operations, carry out technical and support activities, train and guide juniors among other duties. Serving the country is an honor that one will take to the grave. If you intend to join the US army, you can read about the financial benefits of a military career in this write-up.

According to SCRA that stands for Servicemembers Civil Relief Act of 2003 (SCRA), gives the army members certain rights when they start service. These are related to income tax, various interest rates, rent agreements, and so on.  It also covers various protections given to the military members on duty.

Soldiers receive many benefits in return for their selfless duty for their country and countrymen. There are many tangible and intangible benefits of being a part of the US military; here are a few of them:

  • Good pay and cash bonus
  • 30 days annual paid vacation
  • Health care facilities
  • Special discounts and home loan
  • Educational benefits
  • Special training to survive even in adverse conditions
  • Sense of patriotism 

These selfless people know how much help and happiness they would receive in exchange for serving their country. Discussed below are some of the tangible monetary benefits that military life gives: 

Basic Salary 

No amount of money can be worth a person’s life. However, it helps to pay the bills and takes care of one’s family. A basic salary is provided to a soldier. This is a fee just to come on board with the military. This will vary according to the years served and the pay grade. Besides, there are some bonuses that you get for being a part of the military; for example, you get special pay. Based on your job and service, you get special pay in addition to the basic salary, like you have the provision to get enlisted flyer incentive pay, submarine duty pay, etc. 

Healthcare 

Hospital bills can be huge, and medical insurance is very selective. You never know what harm it might cause to you and your family. Along with the check-up, the scans and medicines cost a lot. Thankfully, medical care is free for a currently posted army officer. For veterans, the costs are reduced. Therefore, your money is saved in huge amounts concerning healthcare and dental care. 

Housing 

Under the military, you are always moving. You have goals to achieve that require you to move from one place to another. That is why the government provides free housing for both scenarios. You will not have to pay for your house on or off base. 

Education 

People who are currently serving the military do not have to bear costs for education. Besides, if you get into the military straight out of high school, it does not mean that you need to compromise with your education. The enlistees can get up to 100% of the college tuition fee via the Tuition Assistance Program (TAP) while they are serving the military. The education benefit program of the army includes Army, Navy, and military college funds, GI Bill, and college loan repayment. 

Conclusion

The military career can be a very satisfying one for those who are willing to serve their country. Along with the benefits of a military career, there are many additional benefits like traveling and making great friends. You also get the satisfaction of serving your country.

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