$22 Million Relief: Verizon Launches Bold Initiative for Veterans

Rhea-AI Summary

Verizon (NYSE:VZ) has announced a significant $22 million commitment to provide debt relief for veterans through 2026 in partnership with ForgiveCo. The initiative has already eliminated $8.79 million in medical debt for over 6,000 veterans in the Great Lakes market, averaging more than $800 in relief per person.

The company has partnered with major sports franchises to amplify the program's impact, including a new alliance with Columbus Crew that provides $500,000 in initial debt relief plus $100,000 for each win or draw in the 2025 season. Veterans will be contacted directly by ForgiveCo, with no application required.

Positive

• Commitment of $22 million for veteran debt relief through 2026
• Already eliminated $8.79 million in medical debt for over 6,000 veterans
• Average relief of more than $800 per person
• Strategic partnerships with major sports franchises to expand program reach
• No application required for veterans to receive debt relief

Negative

• None.

CHICAGO, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Verizon is elevating its commitment to support military veterans by committing $22 million in debt relief through 2026 through its continued partnership with ForgiveCo. The partnership has already erased $8.79 million in medical debt for over 6,000 veterans throughout the Great Lakes market.

This initiative targets the crushing weight of debt—a significant burden that disproportionately affects veterans transitioning to civilian life and seeking care. By removing this burden, the program aims to provide a pathway to greater financial stability for those who have served the nation.

Since launching in 2024, the collaboration has provided an average of more than $800 in relief per person. Verizon has aligned with prominent sports franchises, including the Cleveland Browns, Detroit Lions, Green Bay Packers, Indianapolis Colts, Pittsburgh Steelers, St. Louis Blues, and Team Penske, to promote awareness of the debt relief initiative and extend its impact within local communities.

As part of its expanded commitment, Verizon recently announced a new alliance with the Columbus Crew. Through this alliance, Verizon will provide an initial $500,000 in debt relief, with an additional $100,000 for every win or draw for the remainder of the 2025 season, up to another $500,000.

"When a veteran sees $3,000 in medical debt disappear because of our work with the support of their favorite team- that’s not just relief, its restoration,” said Andy Brady, President of Verizon, Great Lakes. “These aren’t numbers on a ledger. They’re our neighbors, our colleagues, our community. And they deserve more than gratitude- they deserve action.”

"Verizon’s $22 million commitment sends a powerful message to our veterans: that their service, sacrifice, and legacy will always be honored," said Erik Antico, President of ForgiveCo. "When companies lead with purpose and connect that purpose to the cultural and community impact of sports, the results are both transformative and lasting."

Verizon, recognized as a Military Friendly® company for seven consecutive years, employs thousands of veterans nationwide. The company’s commitment to the military community extends beyond debt relief, including working directly with the Department of Veterans Affairs to supply VA medical centers with critical communications and offering specialized resources for veteran-owned small businesses.

Veterans impacted by these relief efforts will be contacted directly by ForgiveCo; no application or enrollment is required. Verizon also offers special discounts for veterans and active military members on mobile and home internet plans. To learn more or check eligibility, visit verizon.com/military or a participating Verizon store.

About Verizon: Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

About ForgiveCo: ForgiveCo is a Public Benefit Corporation that provides business advisory services to corporations, non-profits, and brands for the acquisition, administration, and cancellation of consumer debt, and advisory services in the fields of branding, goodwill creation, and bulk debt management – Transforming debt into goodwill.™

Media contact:
Jeff Kew
jeff.kew@verizon.com
(234) 350-7883

Rachna Luthra
rachna.luthra@verizon.com
(773) 636-3070

FAQ

How much debt relief is Verizon (VZ) providing for veterans through 2026?

Verizon is committing $22 million in debt relief for veterans through 2026 through its partnership with ForgiveCo.

How many veterans has Verizon's debt relief program helped so far?

The program has already helped over 6,000 veterans in the Great Lakes market, eliminating $8.79 million in medical debt.

What is Verizon's partnership with Columbus Crew for veteran debt relief?

Verizon will provide $500,000 in initial debt relief, plus $100,000 for every Columbus Crew win or draw in the 2025 season, up to an additional $500,000.

How can veterans apply for Verizon's debt relief program?

Veterans do not need to apply; eligible veterans will be contacted directly by ForgiveCo regarding their debt relief.

What other benefits does Verizon offer to veterans?

Verizon offers special discounts for veterans and active military members on mobile and home internet plans, and provides specialized resources for veteran-owned small businesses.