Are you a military service member or veteran? Check out what benefits you are entitled to, according to the Trump administration
Supporting active and former military members is essential for promoting service in the US. Fortunately, the Trump administration will continue to honor these legal and financial benefits for US soldiers, veterans, and their families.
If you or a friend went on to do military service, you already know how tough things can get. It’s movie-like, except it takes place in reality and is vital to the nowadays global climate that we all have to live in.
The risks and dangers that American troops face for the country are key to everyone’s security. In return, the government grants benefits, tax breaks, and legal protections for their bravery. Trump’s government has announced new perks for 2025.
We compiled an updated list of the 10 most beneficial money perks for military service members. Check which ones apply to you or explore what you could get out of it!
In my experience with colleagues and neighbors, there is still a good proportion of American military service members and veterans who are not aware of these perks. No one seems to guide you unless you keep updated and redeem the allocated government funding and policies meant to protect and reward you.
1. Service members get the TSP retirement plans
The Thrift Savings Plans (TSPs) are offered to service members for low-cost access to retirement saving plans. Thanks to the low charges and fees in the program (TSP expense ratio of 0.042% per year; compared to approx. 0.5-2% in average 401(k) plans), you can now keep more of your lifetime savings.
The TSP plans also allow service members to index chosen mutual funds or pick a flexible target, with retirement savings becoming more conservative as the due date gets closer. This can definitely be appreciated as a considerable and well-deserved win for any hardworking military service member.
In 2025, the maximum TSP contribution is $23,500 but raises to $69,000 for active members serving in a combat zone.
If you’re aged 50+ and have not accessed the program yet, you can contribute an additional $7,500 to catch up.
NEW: TSP beneficiaries aged 60-63 are now eligible to contribute an additional $11,250 instead of $7,500.
Check your eligibility and program criteria on www.tsp.gov.
2. Service members get a savings deposit program with a 10% guaranteed return
This savings deposit program allows deployed service members to invest up to $10,000 in the program each time they are deployed.
Exclusively part of the scheme, they receive 10% annual interest, compounded monthly and paid into the account quarterly. The program can be accessed for up to three months following the soldiers’ return.
In comparison to the normal national savings deposit programs, which offer up to 0.41% returns in interest, the military service members’ program rate is 100 times higher.
3. Service members get tax-free Roth deposits
Popularly, contributors to a Roth IRA get tax-beneficial growth in savings for retirement under certain conditions. However, taxes are never zero.
Service members get to deposit money into the Roth entirely tax-free. Specifically a clever advantage for those active service members also receiving tax-free combat-zone pay, the military Roth deposit would then enable a double tax skip!
For service members aged 50+, the catch-up contribution is $7,500, making the total maximum contribution $31,000.
If your spouse is out of work, you can contribute the maximum amount for them as well.
NEW: In 2025, the general maximum contribution has been raised to $23,500 from $23,000 in 2024. Also, service members aged 60–63 get an increased catch-up contribution limit of $11,250 instead of $7,500 as of 2024.
4. The post-9/11 GI Bill: service members get free college tuition for themselves or family members
This military perk covers the full cost of in-state tuition and fees at public colleges for up to 36 months (or a four academic year degree).
While tuition cost support funding exists for some private and foreign colleges as well, this only goes up to $29,937.09 in total.
The program also offers up to $1,000 per year in housing and school supplies stipends.
Whether service members would like to continue their education or transfer benefits to children, this is majorly agreed upon as one of the best military perks.
Read more about the post-9/11 GI Bill at va.gov.
5. Servicemembers’ group life insurance
One of the lowest-cost life insurance programs is available to US military service members. It costs approx. $420 per year to receive benefits totalling up to $500,000. No matter your age, pre-existing health, or deployment activity, service members can therefore enjoy a superior healthcare.
For comparison, an average cost for life insurance that would cover $500,000 would be approx. $5,412 per year – that is more than 10 times more!
Their spouses are included in the program and can receive coverage of up to $100,000 for as little as $54 per year, if the spouse is aged 35 or below.
6. Service members get state tax breaks
At the state level, the law allows service members to keep legal residence in a state, even if they live in another.
This is a good loophole for those residing in a no income tax state wanting to move somewhere else, as they would be exempt from the new state taxes.
This policy is directed at active soldiers only.
7. Service members get loan caps and lease protections
As part of the Servicemembers Civil Relief Act, this policy offers legal benefits for service members, including an interest rate cap of 6% per year on any loans. This can apply to credit cards, mortgages, auto loans, student loans, and more – even if you took them out before enrollment.
The policy also entitles service members to terminate an ongoing apartment lease if deployed to a new location for 90 days or more.
Find your nearest Armed Forces Legal Assistance Office and submit a request.
8. Service members get a house with no money down
The Department of Veterans Affairs grants access to VA loans, which allow service members to get a house with no money down.
Specialists warn this can be a significant disadvantage if prices drop in the case of recession.
See the VA website for more information.
Are you a civilian aspiring to be in the US military? Here’s a concrete guide you need to skim through to understand the Armed Forces.
9. Service members get tax-free military housing allowances
However, service members can safely opt for this other housing perk option.
Based on military rank and zip code, the Department of Defense calculates the values of the given subsidies. Depending on each service member, housing allowances can cover full or partial costs, such as rent and mortgage.
This perk is available for active soldiers only.
10. Service members get a low-interest loan from your closest military branch
Emergency funds can be accessed at any military branch. They are normally small and directed at temporary emergencies.
Ask about interest-free loans at Army Emergency Relief, Navy-Marine Corps Relief Society, Air Force Aid Society, or Coast Guard Mutual Assistance.
Some will even bypass credit checks while offering great interest rates.
Takeaway
We see Trump giving plenty of attention to the US military service members. As a result, the policies attract more people into the military. Isn’t it more than honorable for service members to be able to enjoy lifetime legal and financial perks?
Do you think US service members need Trump to pass any other necessary policy? Let us know what you think down below in the comments.
Did you find this useful? Continue reading Exposed: 9 Most Corrupt US States in the Nation.