Financial Help for Veterans and Service Members: A Guide to Your Resources and Benefits
Key Takeaways
- There’s a wide variety of programs and organizations that provide financial support for veterans, service members and their families.
- Each branch of the military has a relief organization that offers interest-free emergency loans and other assistance.
- The VA offers special foreclosure-prevention programs for veterans who are behind on their VA-backed mortgages.
- NFCC-certified credit counselors can review your finances and offer personalized guidance.
Many families are struggling with their finances in the U.S. But when the cost of living goes up, military families often take the biggest hit.
In our 2025 Financial Literacy and Preparedness Survey, 50% of active-duty service members said they were “just getting by financially.” Additionally, 42% of veterans said they needed more information about the financial resources available to them.
Unfortunately, many veterans and service members aren’t aware of just how many resources are available to help them through tough times. Here are some of the ways you can get relief for yourself and your family when you’re in financial trouble.
Military relief organizations
Each branch of the military has its own military relief organization. These organizations offer a wide variety of support, including interest-free loans and grants for service members, veterans and their family members. Here’s an overview of each organization and who qualifies for help:
- Army Emergency Relief (AER): AER offers loans and grants to help with everything from mortgage and rent payments to utilities and childcare. The most common AER loan is a $1,500, 15-month loan, but you can borrow up to $3,000 at a time. AER services are available for eligible active and retired soldiers, Army Reserve and National Guard members, and surviving spouses and children.
- Navy-Marine Corps Relief Society (NMCRS): Active duty and retired Sailors, Marines, and their families can get help through NMCRS. The relief programs include interest-free loans and educational scholarships up to $3,000.
- Air Force Aid Society (AFAS): AFAS offers a variety of assistance programs, including emergency loans up to $1,500. You can potentially qualify for help if you’re on Active Duty or retired from the Air Force, Space Force, Air Force Reserves, Falcon Assistance, or if you’re certain National Guard personnel. Family members may also qualify.
- Coast Guard Mutual Assistance (CGMA): CGMA offers a variety of interest-free loans, including a debt management loan up to $7,500. The organization also offers loans up to $9,000 to cover closing costs on a mortgage. People who may be eligible for CGMA help include Auxiliary members, civilian employees, PHS Officers and Chaplains, Reservists, retired military personnel and surviving spouses.
VA mortgage assistance
The VA has several foreclosure-prevention programs that can help veterans stay in their homes when they’re behind on VA-backed mortgages. For example, there are programs that can potentially modify your loan and make your payments more affordable.
The newest option for struggling homeowners is the VA Partial Claim Program, which was launched in June 2026. With this program, you complete a three-month trial payment plan to show you can cover your future mortgage payments. Then, your loan servicer pays your mortgage amount that’s overdue. However, you’ll have to pay this amount back once your mortgage is fully paid off or when you sell your home.
Employment programs for military spouses
Frequent moves can make it hard for a military spouse to find work. If your spouse needs help finding employment, check into the government’s SpouseWorks program. This program, offers everything from special career opportunities to educational support, including:
Another option is to check into the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes (HOH) program. HOH includes career counseling, networking events and training, and it’s available to veterans, servicemembers and military spouses.
Student loan benefits
Are you a member of the military who has student loans? If so, you’ll want to make sure you’re using all of the military student loan benefits that can help you manage your loan payments. For federal loan borrowers, benefits may include the following:
- Public Service Loan Forgiveness (PSLF)
- Grace periods up to three years during active duty
- Payment pauses for military members who are in school
If you have private student loans, you can ask your lender about military service forbearance or other available relief.
Other assistance programs
The list of agencies that provide assistance to service members and veterans is practically endless. If you’re still not finding the help you need, here are a few additional resources you can look into for financial relief:
- The Family Readiness Center at your installation
- Your local Red Cross chapter
- Direct Financial Assistance organizations
- Your state’s FINVET resources
You can also visit your local Veterans Service Center (VSC) to get help navigating all of your available benefits and applying for assistance.
How can credit counseling help veterans and service members?
Nonprofit credit counseling can be a valuable resource for military families, especially when they’re struggling with debt and financial stress.
The National Foundation for Credit Counseling (NFCC) has a wide network of nonprofit credit counseling agencies that offer a range of free and low-cost services. They include:
- Financial education
- Budget counseling
- Credit report reviews
- Student loan payment counseling
- Debt management strategies
In some cases, nonprofit credit counseling agencies can even work with your creditors to reduce your interest rates and payments on certain debt.
In other words, there are professionals ready to help you improve your situation! If you’d like to talk to an NFCC-certified credit counselor, don’t hesitate to schedule your first appointment today.
