Veteran's Administration

Definition of 'Veteran's Administration'


A U.S. cabinet department that provides patient care, veterans' benefits, and other services to veterans of the U.S. armed forces and their families. Commonly referred to as "the VA," the organization also provides this group with disability compensation for those who are injured or contracted a disease while serving, education and training, medical, surgical, and rehabilitative care, readjustment counseling, bereavement counseling, surviving spouse benefits, care and benefits to homeless veterans, medical research, life insurance, vocational rehabilitation, headstones/burial markers, and home loan assistance.

Investopedia explains 'Veteran's Administration'


To be eligible for a VA-guaranteed home loan, veterans must have served on active duty in the army, navy, air force, coast guard or marines. The specific service requirements vary, depending on the time during which a veteran served. A certificate of eligibility is required to obtain a VA loan, and the loan can be obtained through any mortgage lender who participates in the VA home loan program. As of early 2009, this is the only 0% down payment loan available. Veterans who were dishonorably discharged, as well as the imprisoned and parolees, may not be eligible for benefits, and benefits are not available to those with outstanding felony warrants.



comments powered by Disqus
Hot Definitions
  1. Treasury Inflation Protected Securities - TIPS

    A treasury security that is indexed to inflation in order to protect investors from the negative effects of inflation. TIPS are considered an extremely low-risk investment since they are backed by the U.S. government and since their par value rises with inflation, as measured by the Consumer Price Index, while their interest rate remains fixed.
  2. Gilt-Edged Switching

    The selling and repurchasing of certain high-grade stocks or bonds to capture profits. Gilt-edged switching involves gilt-edged security, which can be high-grade stock or bond issued by a financially stable company such as the Blue Chip companies or by certain governments.
  3. Master Limited Partnership - MLP

    A type of limited partnership that is publicly traded. There are two types of partners in this type of partnership: The limited partner is the person or group that provides the capital to the MLP and receives periodic income distributions from the MLP's cash flow, whereas the general partner is the party responsible for managing the MLP's affairs and receives compensation that is linked to the performance of the venture.
  4. Class Action

    An action where an individual represents a group in a court claim. The judgment from the suit is for all the members of the group (class).
  5. Retail Sales

    An aggregated measure of the sales of retail goods over a stated time period, typically based on a data sampling that is extrapolated to model an entire country. In the U.S., the retail sales report is a monthly economic indicator compiled and released by the Census Bureau and the Department of Commerce.
  6. Okun's Law

    The relationship between an economy's unemployment rate and its gross national product (GNP). Twentieth-century economist Arthur Okun developed this idea, which states that when unemployment falls by 1%, GNP rises by 3%. However, the law only holds true for the U.S.
Trading Center