Financial Advantages Of Joining The Military

Whenever you hear that someone is in the military, the first instinct of yours is to thank that person for his or her services to the country. It is actually one of the perks of being in the United States military service. Military life is not easy, you have to stay away from home for years. Furthermore, people think that they will be shorthanded financially when joining the military, but they don’t know that there are some great advantages that can make their life if they join the military service. Get aware of the advantages in the section below of being in the military service of United States.

Getting Student Loan

The first advantage one can have through military service is student loan forgiveness. If you are at a college level and want to support your education financially, with the help of this program you can get a huge chunk of your college education paid for. There are several sub-programs like army student loan repayment program that will help you financially. For more information you can consult an army recruiter and get all the necessary information regarding loan.It is one of the best advantage of military service and if you are applying for entry level job in a company, it will take years for you to stand up financially.

Pay

Military personal gets handsome salary, their basic pay is set by the US congress every year in the National Defence Authorization Act. There are other bounties as well including allowances and basic pay.  Allowances include housing, food and clothing which is not possible if you are employed in a company. Moreover, you have to pay tax on your basic pay, but the allowances and special pay are tax free. Militants live a better life with outstanding bounties which other companies can’t offer.

Additional Benefits

There are additional benefits that military personal get other than their basic pay. There are special assignments and you get special pay on completion of the assignment. Other than special assignments, military is used for other events which include hardships, hazardous duty, hostile fire, warfare and diving duty. These are events that lead you to earn additional benefits in terms of extra pay. Special pay for military personal is added to the basic pay, although such pay programmes may be suspended at any time by the current president.

Enlistment Bonuses

Due to hard conditions of the job, most people think twice before signing up for the military. To counter the thoughts, military officials offer enlistment bonuses and try to make the job attractive. A typical enlistment bonus for recruitment is $40,000 which is a healthy sum. There are variations in the exact amount with the departments, it depends on which branch of service you will be training for army, navy, air force or the marine? The duration of your enlistment contract also contributes in your enlistment bonuses.

Taxes

The next advantage deals with taxes on pay of the military personal. Out of all the advantages, this can be considered as an important one as there are a lot of ease. As mentioned earlier most allowances are non-taxable and if you have special skills, you can make up to 20 to 40% of your total income with this. Furthermore, if you are stationed in a combat zone, your pay checks will be tax free for the duration of the duty at that zone. Some states allow military members to avoid paying state income taxes under special circumstances and many products and services for military personal are offered on a tax-free basis as well.

Medical Coverage

You know that medical treatments are very expensive. Most people couldn’t get cure because of the medical expenses and suffer their whole life with that flause. However, while getting employed in military service, you get full medical coverage for the employee and family. The treatments are for free which helps them save a huge amount of money. Be it a physical therapy, corrective surgery, supplements or anything, they are treated for free.

There are so many advantages or benefits one can avail through military services. you have to work in hardest conditions and that’s what makes people drop the option of joining armed forces, but with such harsh job, you are also provided with these benefits and advantages.