$6 Million Debt Relief for Hoosier Veterans Announced

Verizon is leading the effort with ForgiveCo, aiming to relieve up to $6 million in veteran debt in Indianapolis.

Scott McLaughlin during Indy 500 qualifying — Source: James Walsh/Penske Entertainment / other

SPEEDWAY, Ind — The Indianapolis Motor Speedway, Indianapolis Colts, Verizon, and Team Penske have teamed up to provide $6 million in debt relief for veterans in Indiana over the next two years.

Team Penske is contributing $4 million in May, including $1 million for 2025 and an additional $1 million if Will Power finishes in the top 10 at the Indy 500. The Colts will add $2 million in debt relief over the next two years.

“Verizon’s commitment to helping veterans is a testament to their values,” said Roger Penske, founder and chairman of Team Penske.

The 109th Indianapolis 500 is on May 25, where Will Power will race for his second win and possibly secure another $1 million in debt relief.

Verizon is leading the effort with ForgiveCo, aiming to relieve up to $6 million in veteran debt in Indianapolis. This is part of a broader $22 million program across the Great Lakes region.

“Relieving up to $6 million in veteran debt in Indianapolis is a testament to our dedication,” said Andy Brady, president of Verizon’s Great Lakes Market.

Verizon has also upgraded technology at the Indianapolis Motor Speedway to improve connectivity. Additionally, Verizon offers discounts to military members on mobile and internet plans.

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