VA Programs: Financial Resources
Financial stability is an important component of a successful, happy life. Unfortunately, many of the factors that commonly affect veterans—including substance abuse, lack of financial literacy, lack of affordable housing, lack of affordable healthcare, and under- or unemployment—are also linked to financial instability and poverty. If not addressed, financial issues can eventually result in homelessness.
Fortunately, the Department of Veterans Affairs (VA) offers a variety of resources designed to help qualifying veterans improve their financial literacy and achieve (or maintain) financial stability. Here, we’ve outlined some of the resources and programs available to veterans who need financial help:
Who Is Eligible for Help?
Some of these VA benefits are available for free online; other programs, such as banking benefits and mortgage delinquency assistance, may have additional eligibility restrictions. For more information on which services you qualify for, contact the VA or visit your local VA facility.
What Services Are Available?
The VA offers a range of resources and services for veterans in different financial circumstances and stages of their lives, whether they’re newly transitioning to civilian life, undergoing a financial crisis, or have become homeless. These include:
- Home loans and mortgage delinquency assistance
- Fiduciary services
- Financial counseling for veterans and beneficiaries of claim payments
- Financial hardship assistance
- The Veterans Benefits Banking Program, which offers a secure way to receive and manage any financial benefits from the VA
- Economic Investment (EI) Initiatives, which are region-specific events designed to connect veterans with economic resources such as benefits, job fairs, and other economic advancement opportunities
- Free online resources, including informational materials on how to avoid fraud and identity theft
- The Retirement and Financial Literacy Education Program (RFLEP), which includes a suite of resources and tools such as a savings calculator, budget worksheet, money tips, guidelines on how to improve your credit score, and more
- Housing programs and other resources for veterans experiencing homelessness
To learn more about these VA programs and take the first step on your journey to financial stability, contact your nearest Vet Center or call the general VA hotline (800-827-1000). Homeless veterans and those at risk of becoming homeless can also call the 24/7 hotline for homeless services (1-877-424-3838).
National Veterans Homeless Support seeks to eliminate homelessness among veterans in Central Florida and nationwide. NVHS takes a proactive, intervention-based approach to homelessness by meeting homeless veterans where they are and helping them from there. Through programs like Search and Rescue Outreach, NVHS helps homeless veterans get the supplies they need to survive, connects them with support and resources, and helps them transition off the streets and into temporary or permanent housing. If you’re able, consider supporting our mission by donating or signing on as a volunteer.