Military Finance Network

With the current issues with our economy, many people are having trouble making ends meet. That is why the VA is reaching out to vets who are having problems making their mortgage payments. Since 2000, VA counselors have helped about 74,000 veterans, active-duty members and survivors keep their homes, saving the government nearly $1.5 billion.
The [...]

I have a new feature to announce on this site - a military discounts page. There are a lot of ways to make free money out there and one of my hobbies is finding them! My goal is to bring everyone regular updates on ways you can save money and make money through deals, discounts, [...]

One of the best benefits that many military veterans have is the GI Bill. Unfortunately, many veterans don’t take advantage of this benefit. There are many reasons people don’t take advantage of the GI Bill - not enough time to go to school, no desire for more education, or no need. But this is costing [...]

With the school year coming to a close, now is a great time to apply for a few more scholarships before college starts up in the fall. College and college-bound children of military members are invited to apply for $1,000 scholarships through Homefront America’s American Patriot Freedom Scholarship Program. A total of twenty-five scholarships will [...]

Certain Ohio residents are eligible for great mortgage rates for first time home buyers. The Ohio Heroes Program is a new first time home buyer program that aims to help Ohio residents in certain professions qualify for a 30-year, fixed rate mortgage.
These loans are made through the Ohio Housing Finance Agency (OHFA) and are available [...]

The military budget has gone through a lot of changes in the last few years. The ongoing War on Terror has stretched the budget thin, to the point of almost breaking. Each service needs an influx of billions of dollars to restock and refurbish their equipment and supply the ongoing war efforts.
But how much of [...]

The GI Bill is one of the most valuable benefits that most veterans are able to take with them when they leave military service and transition into civilian life. The value of a college education vs. not having a college education can be well over a million dollars throughout the course of a lifetime. Using [...]

Congratulations to all military retirees in the State of Ohio! Veterans who receive military pensions no longer will have state income taxes taken from their monthly retirement checks.
On 20 Dec 2007, Ohio Governor Ted Strickland signed legislation that exempts military pensions from state income tax. House Bill 372 allows tax exemption of military retirement pay, along [...]

A bill was recently introduced to the House of Representatives that would exempt all active duty military pay and benefits from federal taxes. Read the full text of the bill.
Rep. John Culberson, R-Texas, is the chief sponsor of the bill, HR 1559, which is being called Armed Forces Tax Relief Act.
Culberson said the the Armed [...]

Military Times reports that military pay raises might be lower in the near future compared to the last few years because the gap between military and civilian pay is closing. This article was written based on a Congressional report released Friday by the Congressional Budget Office, which is a nonpartisan analytical group within Congress.
The current [...]

Legislation was recently introduced in the Senate by Sen. Hillary Rodham Clinton, (D-NY). The proposed legislation will enhance GI Bill benefits, VA Home Loans, and Small Business Loans for Veterans.
Proposed Enhancements:

GI Bill: The proposed new version of the GI Bill would eliminate the requirement to pay into the system, and would only require the [...]

In 2003, President Bush signed into law the Servicemembers Civil Relief Act (SCRA). The SCRA further clarified and solidified the Soldiers and Sailors Civil Relief Act (SSCRA) which benefits active duty military members and was signed into law in 1940.
There are many benefits that servicemembers can receive as under this law.

6% cap on interest rates [...]

Military veterans have a plethora of educational benefits available to them. Often times, you just need to know where to look to find the information (and money!) you need. Here are some of the options available to you:
Montgomery GI Bill (MGIB)
The 2008 GI Bill rates go into effect on October 1, 2007. The new rate [...]

The Department of Defense has announced that they will begin full replacement value for items lost, damaged, or stolen during PCS moves. The program will be phased in starting October 1, 2007, and will eventually cover all personal goods shipments to and from international destinations, within the continental US, and non-temporary storage.
This is a great [...]

The National Defense Authorization Act for Fiscal Year 2007 lifted the cap for military retirement pay. Previously, retirement pay was limited to 75% of the base pay for 30 years of service. Anyone who served more than 30 years did not receive any additional compensation.
Military members who retire under the Final Pay or High 36 [...]