Army Emergency Relief Loan
Army Emergency Relief (AER) Loans are one of the forms of assistance for Army families. According to Ft. Hood's Army Community Service webpage, the Army has a policy of "Taking Care of Its Own". AER is one of the resources to follow through on this pledge. It should, however, be the soldier's final choice in receiving financial help.
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AER, What Is It?
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Incorporated in 1941, AER exists to assist Army soldiers, whether active duty or retired. It is also available to the spouses and orphan's of soldiers who have died. For deployed soldiers, the spouse may apply for an AER loan by bringing a valid Power of Attorney to the AER office. As a non-profit organization, the AER holds funds for soldiers who find themselves in an emergency situation that is beyond the soldier's control. The AER headquarters website states that in 2009, nearly $72 million was provided to soldiers in need.
AER Funding
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Funds held by AER do not come from the government; it is a non-profit charitable organization. All funds come from three avenues. Most funds come from the repayment of loans. Soldiers, both active and retired, also make contributions during fundraisers, and contributions can be made at any time. Making a donation to AER, however, is not required to seek financial help through AER. Contributions are often made as memorials to fallen soldiers by family members. Finally, AER has investments which provides for operational costs.
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AER Process
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Before applying for AER assistance, soldiers must first meet with his or her Command Financial Specialist (CFS). The Unit Commander must also sign all DA 1103 forms (Application of Financial Assistance). The CFS will make an appointment for the soldier to meet with the AER office and the soldier will need to provide documents that support need and the emergency situation. These situations must be out of the soldier's control. There is no AER assistance for non-essential items, such as ordinary leave, home purchase, debt consolidation or fines. The soldier in need can expect to receive aid in the form of an interest free loan, a grant or a combination of the two.
Pay Your Loan!
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If an interest free loan is received, the soldier is able to repay the loan in payments or in a lump sum. For payments, an allotment can be started, which is directly removed from the soldier's pay prior to being deposited into a bank account. The loan payment can also be made on the AER website by registering and then logging in to the online payment portion of the website.
Army Financial Programs
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The Army provides several financial readiness classes to assist soldiers and families in developing and maintaining financially healthy portfolios. Each post is unique in course offerings and availability. The Army Community Service office on each post maintains these offerings and will register soldiers and families for open classes. Solid financial planning is also one way that the Army is "Take Care of Its Own".
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