Posts Tagged VA

Military College Grants

The General Henry H. Arnold Education Grant Program is available to every member of the Air Force, or his or her spouse and children. Immediate family members of active duty members, as well as surviving spouses and children of deceased Air Force members are eligible to receive as much as $2,000. Eligibility is very simple and is based on family income and amount of college tuition and fees payable.

The Spouse Education Assistance Program allows spouses of U.S. Army active duty members to obtain financing of $350 every academic term.

Spouse Tuition Aid Program, specifically designed to address educational needs of Navy personnel spouses, offers grants as high as $1,500 for undergraduate studies and up to $1,750 for graduate studies, per year.

The Marines, Coast Guard members, and their families may benefit from grants disbursed through a number of programs, such as Enlisted Commissioning Program, Marine Enlisted Commissioning Education Program, and Medical Enlisted Commissioning Program. As much as $2,000 per academic year may be claimed by eligible students under above programs to cover tuition, fees, and other educational expenses. In addition, another $150 per annum may be claimed under the Coast Guard Mutual Assistance Program. While it does not pay for direct educational expenses, such as tuition and college fees, it may be used towards other eligible expenses, such as books, tests, dormitory expenses, and so forth.

The Iraq and Afghanistan Service Grant

The Iraq and Afghanistan Service Grant (IASG) is available to eligible students - children of deceased parents who died in Iraq or Afghanistan while serving in U.S. military after September 11, 2001. This grant is of great help to kids who were raised without a parent because of service to their homeland. IASG is available to students who are eligible for Pell Grant, as well as to those who are not. Eligibility criteria are very simple. College student should have been 23 yrs of age or less at the time when parent or legal guardian passed away. Students older than 23 years old may become eligible if at the time of death of their parent or legal guardian they have been already enrolled in college. In addition, students applying for IASG should meet all Title IV eligibility demand for college students. This grant was only established recently and is effective from the 2010-2011 school year onwards. Funds disbursed under IASG do not require any repayment from the student.

Described above are only few most popular grant programs available to active duty members and their families. More grants are available from U.S. Government, as well as from a number of nonprofits, to those who had committed to serve the United States.

Article Source: http://EzineArticles.com/?expert=Kate_Ross

Tags:

VA Loan

Before you even contemplate a VA mortgage, one of the requirements you have to meet is being or have been in the military. If you have not served in the military, no need to read further. Take a look at other loan programs to see which will suite your needs better. But if you have been in the military read on for the VA loan requirements.

VA Loan Requirements:

 

  • Obtain a Certificate of Eligibility
  • Loan must be for a purpose approved by the VA
  • Veteran must occupy or intend to occupy the home within a reasonable time after closing
  • Veteran must have good credit
  • Veteran must have income enough to make the mortgage payments and other necessary costs to maintain the home

 

Here is a break down of each of these requirements:

Certificate of Eligibility

This is a documents that provides proof of your military service and eligibility for a VA home loan. If you do not have a certificate, you can acquire one by making application on VA Form 26-1880, Request for Determination of Eligibility and Available Loan Guaranty Entitlement, from your local VA office. You would also include copies of your most recent discharge or separation papers covering active military duty.

VA Home Loan Purposes

The VA Mortgage is designed to help veterans toward home ownership. Below is a list of some of the approved purchases:

 

  • To buy a home.
  • To build your own home.
  • To purchase and improve a home at the same time.
  • To refinance an existing home loan.
  • To buy a manufactured home.

 

Occupancy Requirements

The veteran must reside in the property as their primary residence. What if the veteran is on active duty? The spouse residing there satisfies this occupancy requirement.

Credit Requirements

You will need one year of good credit history and at least a credit score of 620. So if your credit is not too good, work on your credit first so you will not have any problems qualifying for a VA home loan.

Income Requirements

Just like any other loan product, you will need sufficient income to cover daily living expenses plus your possible housing expenses for buying that sought after home. They will look at any debts you have such as car payments and credit card debts. So its a good idea to have your debts paid down when you apply. Another method they use is the debt to income ratio. When using this method the VA home loans use a ratio of the total debts including the new house payment. They usually like to see your total debts being no more than 41% of your total income this includes the estimated house payment. So take a look at what you owe. Do you have room to make a house payment?

Tags:

VA Loans

     Well, this is the first time that I write something about VA Loan.In fact,many people are not familiar with this kind of loan because it is not designed for everyone.Ok,I will introduce it to you now.You will be available for you if  you are an soldier.Well,that is the essential for you to get VA Loan because there are still many other requirements,such as the ages.As it is divided into four different kinds of VA loans,I will introduce them to you  respectively.

     1.VA loan Eligibility for Prior Active Duty.You must Must have served at least 90 days during wartime or have served 181 days during peacetime .Obviously,you can apply for it if you are not a soldier .And you should also take care that you have served in the army for certain period of time.

     2.VA Loan Eligibility for Current Reserve Duty.Unlike the loan I have mentioned above,it requires that you must have served in the army at least six years. So this one is much stricter.

     3.VA Loan Eligibility for Prior Reserve Duty.You must have served at least six years in the Reserves or National Guard.

    4.VA loan Eligibility for Current Active Duty.This one is the same with VA loan Eligibility for Prior Active Duty.

     You can judge according to your conditions.If you find that you are able to apply for a VA Loan,the thing that you have to do now is to find a good agent to help you.We all know it is very important for you to get some professional suggestions when you are applying a VA Loan.I will take VA Home Loan as an example here.In my point of view,veteransloans.com is very professional because many of my readers reflects to me that this agent is very good.And I think  it  surely will satisfy you!

     Well,that is all. I hope that this post will help you.

Tags: