The U.S. Army recently introduced the Army Advantage Fund (AAF), an innovative recruitment program that offers qualified recruits up to $40,000 down payment assistance for homeownership or seed money for a business. This program is being tested in five markets: Albany, NY; Montgomery, AL; Cleveland, OH; Seattle, WA; and San Antonio, TX for the next six to nine months. Availability for AAF on a national level depends on the results of the pilot test.
Qualified soldiers who commit to five years of active service are eligible up to $40K, and those who enlist in a reserve component for five years are eligible up to $20K. Studies have shown that home and business ownership are highly appealing to young Americans. In the test markets, 95% of young adults surveyed agree that it is important for them to own a home.
“America’s Soldiers truly are the strength of our nation, and they deserve the best support, stability and compensation available in return for their dedication to our country,” said Lt. Gen. Benjamin Freakley, Commanding General, U.S. Army Accessions Command. “The Army has a long legacy of preparing young Americans for success through skills training and education-based programs such as the GI Bill and the Army College Fund. This new offering demonstrates the Army continues to understand what young Americans consider critical to their future.”
