Eligible for the program are Spouses and children of Servicemembers in the following statuses: Active Duty, Deceased Active, Retired, Deceased Retired, Medically Retired, Grey Area Retiree, AGR and ARNG / USAR on Title 10 Orders for the entire Academic Year for which they are applying.
What qualifies for an AER grant?
Eligible for the program are Spouses and children of Servicemembers in the following statuses: Active Duty, Deceased Active, Retired, Deceased Retired, Medically Retired, Grey Area Retiree, AGR and ARNG / USAR on Title 10 Orders for the entire Academic Year for which they are applying.
Can you get an AER loan for debt?
The loans issued by AER can cover a variety of emergency-related needs . But certain uses like debt consolidation and legal expenses don’t qualify.
How much will AER give you?
AER’s most powerful program. Company Commanders or First Sergeants can approve financial assistance up to $2,000 .
How much can a commander approval for AER loan?
Soldiers can request up to $1,500 in assistance by submitting AER Form 600 to their immediate Commander. Commander has the discretion to validate request by having Soldier produce bills or other documentation to substantiate their problem or to complete a budget.
What is the max amount for an AER loan?
There is no upper limit for AER support , however, the most common assistance we provide is $1,500 for a 15-month loan. Some categories of assistance have dollar limits while other categories have requirements related to grants versus loans.
Do you have to pay back AER loans?
AER doesn’t charge late fees for its zero interest loans, but it does require you to repay them . Your payment amounts will be determined by your AER officer. Active-duty soldiers and families can pay by paycheck allotment, which AER can set up for you. You also can pay online or through check or money order.
Can you get 2 AER loans?
There is no loan dollar cap, though soldiers are limited to two AER loans per year without command approval . Troops, regardless of rank, can also go through their commander for an immediate loan approval of up to $1,500. Loans are generally repaid by paycheck allotment, which cannot be turned off by the soldier.
How does Aer provide financial assistance?
AER provides funds to help Soldiers with immediate financial needs with rent, utilities, emergency travel, etc . AER also provides emergency funds to Soldiers’ orphans and Surviving Spouses and offers undergraduate scholarships to Spouses and Children of both active and retired Soldiers.
Can the army help with debt?
Military OneSource Financial Counseling
Military OneSource provides free financial counseling and financial management programs covering: ... Debt consolidation and debt management. Assistance with housing issues. Guidance on savings, investing and retirement plans.
How is Aer interest calculated?
- Divide the stated interest rate by the number of times a year that interest is paid (compounded) and add one.
- Raise the result to the number of times a year that interest is paid (compounded)
- Subtract one from the subsequent result.
What does AER mean in banking?
AER ( Annual Equivalent Rate )
Illustrates what the interest rate would be if interest was paid and compounded each year.
What is Army ACS?
All Army Community Services (ACS) programs support Soldiers, civilian employees and Families in maintaining readiness by coordinating and delivering comprehensive, responsive services that promote self-reliance, resiliency and stability.
How do I check my AER loan balance?
On the AER website, www.armyemergencyrelief.org , click on ‘MANAGE YOUR LOAN.” If “MANAGE YOUR LOAN” is not visible, click on the drop down next to “Assistance” and choose “Manage Your Loan.” Page 5 5 2. Next, click on “View Your Loan.” This will direct you to our loan portal to view your loan history.
How long is emergency leave in the Army?
According to Army Regulation 600-8-10, soldiers may be authorized emergency leave for up to 30 days for emergency situations within the immediate family.
What ar covers ACS?
ACS – Army Community Service AR 608-1 .
