Air Force Aid Society's Falcon Loan undergoes changes to policies

  • Published
  • By Airman 1st Class Andrew Moua
  • 2nd Bomb Wing Public Affairs
BARKSDALE AIR FORCE BASE, La.-- --  The Air Force Aid Society's Falcon Loan is available to Airmen of all ranks who need funds in an emergency situation to cover short-term, unexpected situations.

Updates to the restrictions and usage of the loan were made on Sept. 1, 2013.

"The AFAS decided to make changes after looking at the other Armed Services policies," said Forest Carper, Airman and Family Readiness Center community readiness consultant. "Their respective organizations didn't have the restrictions we have in place, so the AFAS saw fit to make those changes to be more in line with theirs."

One of these changes included the removal of the amount of loans a service member may take out over the course of their career.

"The biggest change would have to be lifting the four loan cap," Carper said. "We're hoping it'll encourage Airmen not just at Barksdale, but across the Air Force, to come to us for assistance than an outside party where they'll be charged a high interest rate."

Falcon Loans may now also be provided for emergency travel regardless of the relationship to the member.

"The removal of this restriction will allow Airmen to see those who are ill or who have died even if they are not immediate family," said Carper. "It can be anyone from a close friend to someone who raised you but isn't directly related to you, as long as it falls under the loan's criteria."

Aside from those two major changes, slight changes are being made to other types of emergency services service members may qualify for.

"Basic living expenses, child care and medical and dental expenses are all staying as they are," Carper said. "Payments, repair, insurance and registration will qualify for the loan but not the purchase or down payment of a vehicle."

Despite these changes, many policies remain in place, such as the loan amount cap of $750 and being active duty Air Force, Air National Guard or Reserve on Title 10 United States Code orders, spouse with power of attorney, or paying off a current Falcon Loan.

Overall, the goal of the Falcon Loan program is to assist Airmen with their immediate emergency need in a streamlined process thus making the experience of having to ask for help a positive one.

"With the AFAS making changes to the Falcon Loan, hopefully it'll encourage Airmen to come to the A&FRC," said Stephanie Reyes, A&FRC chief. "Instead of going to places that are going to charge them high interest rates, we would prefer them to come to us and hope it will be a positive experience for them."