The economic fallout from COVID-19 is just beginning in many parts of the country. Active duty servicemembers—and their families—are neither isolated, nor immune, from such financial consequences. For those serving our country—be it through the U.S. Air Force, Army, Coast Guard, Navy, or Marine Corps— and facing financial hardship, be assured there are resources to help. Whether resulting from a spouse’s loss of income, increase in insurance co-pays, medical bills, a travel emergency, or loss of rental income, service relief organizations are standing at the ready, ready to help.
While each organization has its own eligibility requirements, assistance guidelines, and procedures, all are dedicated to ensuring those in need succeed. Relief organizations continue to provide financial assistance to active duty members and other qualifying individuals, such as active reservists and retirees, and may offer interest-free quick assist and traditional loans, grants, and/or free individual financial counseling.
As with any loan, before signing the agreement, be sure the terms of the loan are understood. If the loan repayment amount is to be automatically deducted from your pay, ensure your budget reflects that additional deduction. This includes adjusting (e.g., reducing) all other automatic monthly payments to compensate for the reduction in pay. Once loan repayments have begun, let the relief organization know if you are still struggling—additional help may be available.
For those serving in the Maryland National Guard, financial assistance also may be available.
Additional information regarding financial assistance may be found below.
No matter where, or when, you served—thank you for your service.
Air Force Aid Society (AFAS)
Army Emergency Relief (AER)
Navy Marine Corps Relief Society