At a time when upward social mobility is stagnating and economic opportunities continue to be starkly different by race, the U.S. Army has recruited millions of young Americans to serve with promises of individual opportunity. General Colin Powell said that “the military [has] given African‐Americans more equal opportunity than any other institution in American society.” Indeed, enlistment could increase opportunity and reduce racial inequality by providing a stable source of income with generous education, tax, and health benefits as well as opportunities to develop new skills, build networks, and migrate to other parts of the country. Yet volunteer service also includes significant risks. The army separates young people from their communities when many of their peers are attending school or developing professional skills; exposes enlistees to violence, injury, and trauma; and is associated with high rates of disability receipt.