Grants for Veterans

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Veteran grants are funded by the federal government to help veterans start small businesses of their own or to provide financial assistance for the education of their children. There are also grants for veterans that are not only geared to help veterans start business, but are focused on helping the veterans themselves to receive higher education and occupational training as well.

The United States military veterans receive numerous benefits for their service. There is the pride and respect that comes with having been a member of the service. There are also tangible benefits such as the ability to receive treatment at veteran’s medical facilities or hospitals and monetary discounts. There are also various scholarships and grants available to veterans who wish to apply.

The United States Department of Labor in 2008 announced 103 different grants for veterans which amount to approximately $300 million to help them receive job training for their futures. These grants were formulated to assist veterans with their shift to civilian careers. These grants were awarded by the  United States Department of Labor’s Homeless Veterans Reintegration Program (HVRP) and the Veterans’ Workforce Investment Program (VWIP).

The G.I. Bill isn’t any new government grant. It has been changed since the September 11, 2001 event. It covers the veteran’s tuition at any public university, and after 9/11 the changes made it possible to cover a big portion of tuition for private education as well. A veteran must fill out the necessary application for the G.I. Bill and submit them. Then he has to apply and enter into a university and have his enrolment certified and approved by the School Certifying Official (SCO) and submit to the necessary government office in order to begin his free schooling.

This bill aims to bring a big number of veterans to colleges and universities. The US Dept of Veterans inspects the attendance rates of veteran’s college and the outcomes and how support programs affect them. Educational grants are generally awarded on basis of competition.

In February of 2006 in the state of Illinois, the proceeds of the lottery tickets go straight to supporting the veterans of the state. Some of these grants can cover disability benefits, health insurance costs, research, housing assistance and post-traumatic stress disorder treatment.

There are housing grants available for veterans, in the form of housing programs that are specially adapted for vets with disabilities. Disabled vets can build their own homes by apply for grants. They can even adapt or rebuild their existing home to fit their needs with the use of this grant. This encourages independent and healthy “barrier-free living environments” for the veterans.

Children of Veterans Tuition Grants are offered by some states like Michigan. The grants aim to offer and assist on the undergraduate tuition of specific children – those over the age of 16 and under the age of 26. These students must be the veteran’s adopted or natural children from the state of Michigan. The total amount of scholarship assistance that students can receive through this veterans children grant is $11,200.

Military Tuition Grant is offered by Ashton University for those who are veterans of the armed forces. This grant pays for a portion of a veteran’s tuition and all of the applicable technology fees that the university charges. An individual must be eligible for VA benefits through the Department of Veteran’s Affairs if he/she wants to apply for a grant. The applicant can directly apply through the university at the registrar’s office for this grant once the veteran is enrolled in classes. This tuition grant is only for undergraduate classes.

Related Resources:

What are Grants
www.grants-for-everyone.com

Va Benefits

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The Department of Veterans Administration has a number of programs for veterans that provide medical, financial, and other assistance. American’s who received a general or honourable discharge, there are four major benefit programs:

  • Disability compensation
  • Programs for Veteran’s pension
  • Low-cost or free  medical care through VA medical facilities and  hospitals
  • Programs for Education

 

If you are veteran of the military with a disability that is service-related you may qualify for monthly benefits of over $3,100. Veterans who have injuries or diseases that happened while on active duty, or were made worse by active military service are paid these benefits. It is also paid to certain veterans disabled from VA health care. The benefits they receive are free of tax.

Many veterans of wartime service are completely unaware of the fact that if they are 65 or older and on a limited income they may qualify for a VA Pension without being disabled.

Veteran’s Pensions Eligibility:

  • you were discharged from service under other than dishonorable conditions,
  • you served 90 days or more of active duty with at least 1 day during a period of war time.
  • It is required that anyone who enlisted after 9/7/80 has to serve at least 24 months or the full period for which a person was called or ordered to active duty in order to receive any benefits based on that period of service. With the advent of the Gulf War on 8/2/90, veterans can now serve after 9/7/80 during a period of war time. When they do, they generally must serve 24 months to be eligible for pension or any other benefit.
  • you are permanently and totally disabled, or are age 65 or older,
  • your countable family income is below a yearly limit set by law.

Members are qualified for a life insurance up to a maximum of $400,000 under Service members’ Group Life Insurance (SGLI).  A maximum of $100,000 is available for spousal coverage while children are covered automatically for $10,000 at no cost.  Any member of the uniformed services covered by SGLI is qualified for a traumatic injury protection rider that provides payments between $25,000 and $100,000 to members who have a traumatic injury and suffer losses such as, but not limited to, blindness, paraplegia and amputations.

Full-time and active duty National Guard personnel have education benefits that are available to those who have contributed $1200 under the Montgomery GI Bill,  served for at least two years and, and members of the Selected Reserve that are certified as eligible under the Montgomery GI Bill – Select Reserve. The Chapter 1606 program provides a monthly stipend while the Chapter 30 program is limited to payment for tuition and fees.

After serving on continuous active duty for 90 days persons on active duty are qualified for a VA home loan guaranty. Exemption from the loan guaranty funding fee are extended to those going through a pre-discharge claim program who are found to have service-connected conditions that will be rated as compensable.

To be qualified for financial assistance to adapt a vehicle to accommodate a disability or to purchase a vehicle, they must have certain qualifying disabilities (e.g. loss or permanent loss of use or one or both feet) that were acquired during active military service.

During emergency situations, theVA health care facilities are available to active duty service members and when referredl by military treatment facilities through Sharing Agreements or under your TRICARE coverage.

For those personnel who are on active duty and who have been given the Medal of Honor and determined to be qualified by one of the service departments are entitled to receive a special Medal of Honor pension from the VA.

Va Home Loan Rates

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A VA-guaranteed loan is a loan made by private lenders like savings, banks, & loans, or mortgage companies to veterans who are eligible. If you wish to buy a manufactured home, condominium or home, the VA can guarantee a loan of up to $417,000. A much higher than what you can get with other home loans. VA has two options for those considering to refinance an existing loan. Either you take cash out/ equity or lessen the current rate of interest. The option for “cash-out” is limited to $144,000.

A down-payment is a part of the purchase price of your home that the buyer pays in cash and doesn’t finance. Borrowing from VA loan doesn’t make you worry about your down-payment. Certain funding fees  like the percentage of total home loan paid to the VA and closing costs, the expenses other than the price of the property incurred by sellers and buyers in transferring ownership of a property. You must be able pay a part of these fees upfront.

The VA guarantee loan lets you get a mortgage with great interest rate. If you fail to repay the loan, the lender you borrow money from is protected against loss up to the amount of the guarantee, and you have the flexibility to buy your dream home. Visit the website of the Veterans Administration for the current table of VA Funding Fees and for information on veterans who are exempt from funding fees.

Specifically, a VA home loan can help veterans:

  • Buy a residential condominium or home
  • Alter, repair, or improve a home
  • Refinance an existing home loan
  • Purchase a manufactured home with or without a lot
  • Improve and buy  a manufactured home lot
  • Build a home
  • Install a solar cooling or heating system or other improvements
  • Buy and improve a home along-side with energy efficient improvements
  • To reduce the interest rates by refinancing an existing VA loan
  • Refinance a manufactured home loan to acquire a lot

The administration may suspend from the program those who take advantage of veteran borrowers, or decline to sell a new home or make a loan to an eligible veteran of good credit because of color, race, sex, religion, disability, status of family or national origin.

New home builders are required to give the purchasing veteran a warranty of one year and assurance that the home was built VA-approved specifications and plans. A  warranty must be given for new manufactured homes.

The VA may compensate or pay the veteran borrower for any structural defect corrections of new construction completed under VA or HUD inspection. They may get compensated if it affects the livability of the home and if within four years of a home loan guarantee assistance was requested.

When the borrower avails a VA loan may only be charged the fees and other allowable charges prescribed by VA as allowable. The borrower can prepay without penalty the entire loan or any part not less than the amount of one installment or $100. The VA encourages holders to extend  if a borrower becomes temporarily unable to meet the terms of the loan.

To help the Veteran borrower, Loan Guaranty has Loan Technicians in 8 Regional Loan Centers and one Regional Office who intercedes  with the servicer to explore all options to avoid foreclosure.  Veterans or service members VA-guaranteed home loans can call (877) 827-3702 to reach the nearest Loan Guaranty office where Loan Technicians are prepared to discuss potential ways to help save the home.

The loan servicer has the primary responsibility of reviewing the loan to resolve the default, so it is imperative borrowers contact their loan servicer as quickly as possible.

Related Resources:

www.busyrealestateagent.com

Va Disability

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A veteran is paid the disability compensation because of diseases or injuries that occured while on active duty, or worsened by being active in military service. It is also paid to certain veterans disabled from VA health care. All the benefits are free from taxes. They may be eligible for disability compensation if they have a disability that is service-related and were discharged but not dishonourably.

The amount of basic benefit paid ranges, depending on how disabled you are.  Note: You may be paid additional amounts, in certain instances, if:

  • you have very severe disabilities or loss of limb(s)
  • you have a spouse, child(ren), or dependent parent(s)
  • you have a seriously disabled spouse

Kindly attach your dependency records (marriage certificate and children’s birth certificate), Hospital and doctors reports, and separation or discharge papers to you application form. An online application is available by accessing the website at http://vabenefits.vba.va.gov/vonapp.

Other benefits are:

  • Grants for Specially Adapted Housing
  • Clothing Allowance
  • Military Exchange & Community Privileges
  • Priority Medical Care
  • Federal Employment Preference
  • Vocational Rehabilitation
  • Service-Disabled Veterans Insurance
  • Automobile Grant & Adaptive Equipment
  • State/Local Veterans Benefits

As part of the VA’s disability compensation program, Individual Unemployability (IU)  allows VA to pay particular Veterans compensation at the 100% rate, even though VA has not rated their service- connected disabilities at the 100% level.

To be eligible for this benefit, a Veteran must be unable to maintain substantially gainful employment as a result of his/her service- connected disabilities.  In addition, a Veteran must have:

  • One service-connected disability rate at 60% or more, OR
  • Two or more service-connected disabilities, at least one disability rate at 40% or more with a combined rating of 70% or more.

Veterans who are in receipt of Individual Unemployability benefits may work as long as it is not considered substantially gainful employment.  The employment must be considered marginal employment.

Substantially gainful employment means the employment at which non-disabled individuals earn their livelihood with earnings comparable to the particular occupation in the community where the Veteran resides.

Marginal employment is seen to exist when a Veteran’s earned income does not exceed the amount established by the U.S. Census Bureau as the poverty level for the Veteran only.

If the percentage criteria isn’t met, special consideration will be given for Veterans when the following is accomplished:

  • A Veteran is deemed unemployable due to a service-connected disability but does not meet the minimum percentage standards, OR
  • There is proof of unusual or exceptional impairment of earning capacity as a result of the disabilities (Ex: frequent periods of hospitalization or interference with employment)

Once a year, veterans may have to answer an employment questionnaire in order for VA to determine his continued eligibility to Individual Unemployability.

The VA can even give additional compensation to a Veteran who, incurred the loss or loss of use of specific organs or extremities, as a result of service in the military.

Loss of use , or loss, is defined as either an amputation or, having no effective remaining function of an extremity or organ.  The disabilities VA can consider for SMC include:

  • loss, or loss of use, of a foot or hand
  • paralysis or immobility of a joint
  • loss of sight of an eye (perception of light)
  • complete loss, or loss of use, of both buttocks
  • complete loss, or loss of use, of reproductive organ
  • absence of bone and air conduction / deafness of both ears
  • organic aphonia /inability to communicate by speech
  • a percentage loss of tissue from a single breast, or both breasts, from mastectomy or radiation treatment

For combinations of these disabilities, the VA will pay higher rates such as the loss of use of the feet, arms, legs, and hands, based on the particular combination of the disabilities.  A higher compensation is given to those with various combinations of bilateral blindness with severe deafness.