Army Advantage Fund Benefit
What:
- To help recruit and maintain the quality of Soldier required for America’s Army, the Army is introducing an innovative new benefit option, the Army Advantage Fund (AAF)
- Soldiers who qualify can choose a substantial down payment for home ownership or significant seed money to start their own businesses
Why:
- Research tells us that home and small business ownership are valued by many of today’s young people
- The AAF gives Soldiers new choices for achieving success after their Army service
Benefit Details:
The AAF benefit includes up to $40,000 (taxable) as outlined below:
Dates:
- The AAF test phase begins February 4, 2008 and the length of test will be determined by performance.
- The Army is the only service to offer the AAF and has been authorized by congress to run this pilot program for three years. Should the Secretary of the Army decide to request that AAF become a permanent incentive program, the Army will seek statutory authorization. The legislation can also request the establishment of a deposit fund without fiscal year limitation. This type of fiscal management will allow the Army to obligate the money and to hold the funds until the Soldier requests payment sometime into the future.
Markets:
- The five markets that will be included in this test phase are Albany, Cleveland, Montgomery, San Antonio, and Seattle
- If the test is successful, the Army expects to roll out the program nationally
Eligible Soldiers:
- The offer is open to first-time enlisting Active and Reserve Soldiers only; currently or formerly serving Soldiers, ROTC Soldiers and the National Guard are not eligible. A high school diploma and top 50% score on the Armed Forces Qualification Test (AFQT).
Email
Print
