Financial Education Resources for Veterans [Video]

https://www.youtube.com/watch?v=e1Qkqwj4kLU

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Welcome and thank you for standing by at this time all participants in a listen-only mode until the question and
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answer session at that time to ask a question you may press star 1 today's conference is being recorded if you have
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any objections you may disconnect at this time and now for today's meeting over to
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bucola ah thank you you may begin thank you hello everyone and thank you so much for joining us in our third installment
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about Thursday's community college webinar series today we will focus on financial education resources for
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veterans my name is Abby Buccola da-da and I work at the Consumer Financial Protection Bureau office of students as
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an outreach specialist we have three speakers lined up today from Consumer Financial Protection Bureau we'll hear
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from Tony camilli we'll also hear from Kim Myers from the Department of Defense and Daniel Avigail
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from ceará Community College before we get started I have to give our legal disclaimer as an employee of CFPB this
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presentation does not constitute legal interpretation guidance or advice of the CFPB any opinions or view stated by the
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presenter or the presenters own and may not represent the bureau's views we are not affiliated with and do not endorse
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any of the speakers or entities participating in today's presentation now with things that being said I will
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turn things over to our first presenter camilli thank you for Cola will good afternoon everybody my name is Tony
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camilli and I am going to be talking to you a little bit today about some of the CFPB's tools and resources for college
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administrators that serve veterans as well as for the veterans themselves if it's something that you work if it's a
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group you work regularly with you can pass these on as tools that are available to them next slide please
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I'm just going to go ahead and skip this because the cola already covered it sorry we got ourselves mixed up there
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with double disclaimers this is me who I am as you can see I'm a lieutenant colonel in the Air Force
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Reserve I've been an Air Force Reserve ten years and I'm sorry eleven years and I was on active duty for about seven
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years so I've got about 18 years of experience now working inside the military population which I really
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credit with forgive me a lot of insight as to how this community operates and also the the comings and goings of what
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things are changing in the military population next slide please so here is a little bit about what I'm
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going to cover I'm not going to read this to everybody but Jesus just these four topics and I've only got about 15
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minutes so I will be pretty brief on most of the slides but I believe we're going to have time at the end of the
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webinar to receive and answer questions next slide please all right next slide so a little
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background about the CFPB I'm not going to read a see it but I but I know these slides are going to be
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provided to all participants after the webinar itself so I wanted you to have this this tells you a little bit about
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our mission statement and our vision statement and like I said I'm not going to read it to you but I wanted it to be
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in the slide deck so people can refer to it after the webinar next slide now the part of the bureau that I work in is
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called consumer education engagement and as it says here on the slide what we are what we try to do is we develop an
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implement initiative to educate and empower consumers to make better informed financial decisions and so
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these are the other parts of the CFPB here highlighted in this slide but really the part that I'm going to really
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focus on today is Cee as we often call it and I'm going to talk a little about consumer response too because that's
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very important if you've got veterans who who need help if they have a problem with a financial product or service and
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how they can access our consumer response function next slide please okay so C is we call it internally our
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consumer education engagement we serve the general public but we also have these special population offices and
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myself I'm part of the office of servicemember Affairs so we work to do education and engagement empowerment for
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the military population which includes in uniform their family members and those who have served previously but we
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also have a number of other special population offices that focus on groups like the older older American population
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the underserved neck anomaly vulnerable population and a few others in here including as you all well know are
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college age population and even our youth in the K through 12 arena so next slide please so I know this is a this is
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a group I'm speaking to that knows quite a bit about the the college-age population so I apologize if any of this
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is redundant or repetitive that you've heard it or seen it before but I think it's worth highlighting just to sort of
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provide some context about some of the challenges that college students including veterans are facing as a as
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they transition from military service to college life so next slide and this is not probably not new to you but College
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financial planning isn't really happening this is based on a couple of studies that are referenced here in the
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footnotes but you know people are not saving for college a lot of people large portion of students have student loans
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and there's been a decrease in scholarship money as you can see by the numbers they're reported next slide so
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there's also in addition to the fact that people aren't saving up money there's there's not enough money to be
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saved because the adult young adults are struggling to meet their financial obligations as demonstrated by some of
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the data points here so this is kind of a recipe you know for for for what happens in the next slide a little bit
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which is we we have a we have quite a bit of a large increase in the number of students that are taking out student
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loans now so next slide and I will I can refer back to my days as a college student I did not know the difference
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between a federal and a private student loan back in the day and it's many many days ago now but this has continues to
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be a problem in the student age population along with a few other things which is that a lot of students based on
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some of the study here that was done in 2015 didn't really know about student loans
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and they would probably change their for decisions had they known more so that demonstrates to us at least the
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CFPB that there is a demonstrable need for financial education of this population so next slide and this is a
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this is to demonstrate sort of what's become an outcome or this now is is that student loan debt is now the second
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highest category of household debt obviously it's dwarfed significantly by mortgage debt but but just you got to
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remember not too far into the past was student loan debt beneath auto loan debt and maybe even believe credit card debt
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as a composition of household debt so it's really exploded in in in probably recent past times and so it's it's now
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become quite a burden on our young people in the society next slide and there's just sort of the numbers for you
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that talk about the total actual outstanding number of student loan debt it's now in the 1.5 trillion range next
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slide and this is what the this is ultimately what student loan debt has an impact on what we call here the domino
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effect you know it affects students abilities ability to make choices with regard to home ownership to save for
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their future and retirement to build wealth over time and it even in fact impacts their ability to make career
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choices or whether or not it they think they're financially ready to form a household but by getting married or
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having children so there's a very significant impact all of this next slide I think it's good maybe to
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transition to a little bit of data that we have at the CFPB and what you're seeing before you here is a chart that
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is drawn from our annual report from 2017 and this is showing the the types of student loan complaints that we
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received at the CFPB in 2017 we received about 20,000 student loan complaints and about 87 of the 7% of those were sent
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for review and response and I'm going to talk a little bit later about how we review and respond to those complaints
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about 9% of those complaints were referred to other regulatory bodies or 4% were found to being complete so we
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weren't able to respond to them so but this gives you the flavor for what students are telling us when they submit
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a complaint that's about a student loan you can see the top category law far and away the top category is problems
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dealing with their lender or their servicer of their student loan so next slide I'm going to transition a little
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bit now to the the tools and resources that we offer at the bureau de for the veteran population really all all
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population out there next slide our number one tool and I really would call this our flagship
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product is our paying for college tool now as a lot of you know veterans get access to the GI Bill or almost all
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veteran seuss assuming they meet the minimum amount of service time but sometimes the GI bill is not enough to
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fund their education especially if they're if they happen to have families and they have other other expenses to
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pay during their time in college they often the GI bill isn't enough necessarily so a lot of veterans also
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undertake or start to take on student loan debt so our paying for college you know is it it's I'm sorry pay for
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college tools like a set of tools or suite of tools that's targeted to students it helps them evaluate their
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options when they're financing a higher education and it really allows them to address the entire life cycle of
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financing college everything from comparing college costs to financial aid offers to shopping for a loan and then
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assessing options to how to repay their student market next slide we also have what are we called a resource portal
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focused on student loans and so this is in addition to the paying to college a tool and so this is really the help
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people understand things like figuring out how much they need to borrow what types of grants and scholarships apply
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or don't cover or don't apply how to find out how to balance out your student loans how to determine how much you can
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afford to pay for example understanding what's you know what are your choices when it comes to refinancing versus
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consolidating your student loans and then if you need to make a student loan changed your student repayment plan this
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this this resource portal teaches you how to do that as well next slide so what you're seeing here is a screenshot
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from this particular tool that shows some of the key questions that we recommend prospective students ask
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before they sign a student loan contract so just give you an idea the type of information what it looks like on our
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website and what's available next slide and then this is a screenshot from our paying for college comparison tool and
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what's really useful about this is that this is an interactive tool so you tell us the name of the school that is you're
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thinking about considering to going to and we provide information about that school things like what does it cost to
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go there what is the what is the average living expenses associated with that school and then if you see at the bottom
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of this slide there is a category called money for school and what's really nice about that for the veteran population is
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integrated into that tool is a link to say hey I'm a veteran and I have a GI Bill here and so we import that GI bill
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information as well to help the veteran get a real much clearer sight picture as to what their expenses are going to be
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there are all their total expenses and also what expenses are not necessarily going to be covered by their GI Bill
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entitlement next slide and this is another screenshot teaching it helps teach users about you know what are the
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difference between a federal loan a private loan again as we talked about you know most students don't really
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notice when they're taking out the loans myself included when I was a student so the idea here is to get them get them
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more familiar with understanding the terms and the knowledge and the phrase is like a private loan versus the
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Stafford loan versus you know what does it mean to have a loan repayment what does it mean to have a deferred
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deferment on your student loan for example so next slide another tool we're going to talk about
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our resources for public service workers so we've got a bunch of different guides that are focused on different
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populations of people in the workforce so if you are in the Oh Terry for example you qualify for
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public loans student sorry public loan forgiveness and it also applies to a bunch of other categories and so the
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Bureau has put together these special guides really targeted to specific audiences such as the military such as
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the Peace Corps such as AmeriCorps such as such as teachers because as the slide points out about 25 percent of the labor
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force works in public service so there's there's good options for folks out there to help get assistance for their student
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loans but there's a lot of process involved and it's very important to get that process done right or you may not
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be able to get the loan forgiveness that you you're seeking next slide okay so the last one of the last things I'll
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talk about here well I got one or two more slides is our ask CFPB portal and so this is our number one tool overall
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on the CFPB's website we get about we've had over about 20 million visitors since we've launched this and so this is kind
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of like an online knowledge base like you know you go to this website and if you have a question on a sort of any
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financial product or service chances are we have a category we've looked at it we've received this question whether
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it's a credit card issue a student loan issue a credit report issue a debt collection issue what-have-you the point
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here is it's all out there and available to to people to utilize and it's all credible information that isn't put
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together and thoroughly vetted by the CFPB so that you can rely on it we want people to know they can rely on this
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information when we use it next slide and I would be remiss if we didn't talk a little bit about some of the
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publications we have you know we have a lot of great resources and tools on our website but at the same time for those
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of you who work with students even though students are generally are more along the younger population we know
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that oftentimes you want to be able to provide them something to put in their hands in front of them if you're meeting
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with them and so we've got literally hundreds of publications in English and many other languages that focus on
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specific topics so if you want to if you want to get topics that are devoted to things like student loan student
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loans and understanding student loans we've got brochures on that and the nice thing about it is there's a website here
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at the bottom you can go to our website there that we have at the bottom you get to see our entire catalog and you
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literally just look at what brochures you want with a couple of keystrokes you drop them in a cart just like you would
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shopping on Amazon and say hey I want all these brochures delivered to my to my school and you you know you hit click
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and it's pretty much as seamless as Amazon with one caveat is there's no one-day shipping here so it is a it is
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run by the Government Printing Office and then they unfortunately shipping is not quite as efficient as Amazon but I
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will tell you usually guests stay within one to two weeks all right I've only got a few minutes
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left here I'm probably even over my time but I just want to let people know if you do have a veteran who's having a
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problem with a financial product service this is how they get help so next slide I mentioned earlier office of consumer
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response this is who receives complaints at the CFPB and this is who manages that process and you can see they handle a
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lot of complaints 20,000 telephone calls a month 25,000 complaints per month it's a well-run or well-oiled machine in
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terms of handling complaints next slide and so this is what happens this is why handle submitting a complaint is useful
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the person who submits a complaint can get individual help but also every complaint we get helps us understand if
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there are problems in the marketplace and so it's a it's a win-win situation if somebody submits a complaint to
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complain to us because they're getting help individually and then it's also helping us make sure that there's not a
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sort of problem lurking in the marketplace that were unaware of because at the end of the day we are a regulator
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of the marketplace and our job is to kind of look out for tech consumers and make sure that there is a fair and a
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fair marketplace being put in effect next slide so this is how you reach us if you need to submit a complaint we
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have a telephone number toll-free it's listed our website there eight five five four one one CFPB or two three seven two
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and then you can also just submit a complaint at our website at that web address
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slide and so when you consume and when somebody does submit a complaint this is basically the process how it works I'm
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not going to get into the nitty-gritty for because of time constraints but essentially somebody submits a complaint
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we work through and review it we get a response back usually from the company that the complaint is about and and then
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we try and get we send that back to the consumer for to let them know here's your response and let us know if you
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have any feedback on that so my time I have gone over my time I apologize to my next presenter Kim Ornette but if people
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do have any questions further questions about about the CFPB's processes as well as in any resources or questions about
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connecting with the military community working with veterans please don't hesitate to reach out to us this is the
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best way to reach us here that's our that's our organizational email account that's monitored all the time and we
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will be happy to get back to you so with that being said I'm going to turn it over to Kim Myers from the department
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defensed sorry can I cut in your time for a little bit that is not a problem at all and it's all incredible
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information that they need to have on hand so I certainly don't mind so I will just provide slightly to make sure that
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we stay on track for everybody else so a special thank you to the CFPB for inviting us to participate in this
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webinar today and be able to share some information and resources that our office is able to provide to you I'm Kim
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Myers I'm a program analyst in the Office of Financial readiness and I oversee our strategic communications
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efforts to research service members and families on important financial education and literacy topics so it
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could be resources it could be law changes it could be policies any number of things but our office does develop
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policy to support financial readiness we perform oversight on financial readiness efforts and of course that's in
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conjunction with our military service department we do advocate for the DEA's DoD on on the basis of financial
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readiness and the literacy of our service members and families and then we try to deliver innovative education
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resources and some of that we'll share with you today and we definitely love to collaborate with our other federal
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partners such as the CFPB the SEC the Federal Trade Commission to make sure that we're providing a
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well-rounded educational tools and resources to everyone and then we support the delivery of the financial
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readiness programs through this military services however we possibly can and look at new technologies to do that next
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slide please great so I want to talk a little bit about some of the resources that we have
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available that your service population may be able to access the first is our personal financial managers and
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counselors these are certified certified financial counselors that are located across the United States and overseas at
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military installations that can provide a financial education counseling the one-on-one or in a maybe even for a
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family or potentially in a group or workshop setting if a service member is in your you're studying a classroom
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where ever the case may be and you notice that they're looking for some assistance in that way the website
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listed there through Military OneSource not know can point them in the right direction of identifying a personal
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financial manager counselor nearest to them now some of these councils will provide support and service virtually so
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it doesn't necessarily mean that they have to be able to be on a military installation to receive that support now
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the service is available to our active duty National Guard and Reserve Services it is available to our veterans within
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the first hundred and eighty days of their separation date and then of course to our surviving spouses we provide that
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service as well they provide individual consultations and workshops as I've mentioned and then
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also another resource that is be available either virtually are on a military installation
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is the use of educational counselors now each service branch does tend to run their their voluntary education program
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slightly different and so we provided the resource there as well through Military OneSource so that you can
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locate an education program near you and speak to someone and they'll talk to them a little bit about actually a lot
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about guidance on how to access education find an educational institution that
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will fit their needs and how to pay for that education whether it's through tuition assistance utilizing their GI
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Bill and other resources that will help them look at what they're eligible for next slide please
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another benefit that is available to some veterans that recently came out was a 0% student loan benefit this is an
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interest relief program that applies to direct loans or a portion of a direct consolidated loan it is determined or
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eligibility rather is determined based on the servicemembers status and where they were deployed and if they were in a
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hostile fire or in the danger study now the way a service member would identify if this applies to them looking at their
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leave and earning statement or their military orders that show if they were in a service or area that is considered
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hostile or under imminent danger if that information is unavailable because the service member has not been in the
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service or has not been activated in quite some time they can show Chrissa that by looking through the military
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records and having someone provide a certified letter and signature stating that they were in fact in those
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locations now service member will need to contact their student loan servicing provider to be able to determine their
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eligibility and apply for for this reimbursement or deferment of the interest rate and there will be certain
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documentation that they'll need to be able to provide such as that statement philemon earnings statement or a copy of
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the military order showing that they were in fact in the hostile fire imminent danger area now there's some
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information on this program available to service members it's a fantastic handout here that I've listed through the
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Education Department on student AGF but also the CFPB pointed out several resources that provides a lot of
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benefits available to service members as well so you have a couple of resources there that you can access to help with
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that next slide please another area that we've really been focused on in speaking with our service
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members and families as of late and actually still going on is the recent changes in the tax laws that may impact
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them now by and far there were not a few number of laws that that will apply but there are some and it's important that
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that our service members are aware of this specifically I wanted to point out because you may be working with
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populations that are in the reserve components could be National Guard or reserve and they may have seen that
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moving expenses are no longer allowed as an exemption under their taxes however this is does not apply to the members of
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the US Armed Forces that are being called to active duty so it's important that they realize that because that
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could sometimes be a little bit of a financial burden and we certainly don't want them to feel like they are carrying
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the cost of something that they don't necessarily need to be responsible for there's also a change in the tax laws
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that allow service members that have served in the Sinai Tencent Peninsula to be claiming that as service in a combat
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zone and that is retroactive so for folks that may be you may have encountered with to be aware that that
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is retroactive back to June of 2015 now a lot of this is very leaked out illegally based and so we do encourage
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our service members to speak to a legal representative and that is also a no-cost service available to them at
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military installations and I provided there for you a link so that a service member can find their nearest legal
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assistance office to support them there are also other resources that I want to make sure I point out that support
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service members is there looking at their taxes and one of those is the Volunteer Income Tax Assistance sites
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these are volunteer run sites that have trained personnel to assist service members and families as they are filing
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their taxes we've provided a resource there for youth or Military OneSource to locate a Vitus site that would be near
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or on a military installation nearby now the IRS also does have vitae sites listed on their website that would be
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off military installations or worldwide so you may want to check that out as well
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well the other thing I want to mention is the tax cut and Jobs Act booklets that are issued that our office is
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created and this does highlight some of the major changes to to the tap custom Jobs Act the issue link that you see
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listed there provides a digital booklet that a service member can access what we tried to do is really highlight some of
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the major changes but then show how these might apply to a service members particular situation sometimes when you
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have that that persona if you will that they can relate to and identify with it that's somewhat similar to their
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personal situation that helped them understand how a change or a law may apply to them we also want to make sure
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that we're mentioning the Armed Forces tax guides it's also available on the IRS website there are some great
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information in there that also links out to a couple of other changes that have recently taken place that I just want to
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make mention of and that is the veterans benefit and transition Act because this does apply and will impact
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servicemembers taxes actually it'll impact the taxes because of the military servicemembers spouse the veterans
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benefits and transition access allow military spouses the file in the States under their service member state of
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residency if they so choose to do so this certainly can make things a little bit more streamline and easier when
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they're filing taxes especially if you're filing a joint return so that is something to certainly look into and
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then of course there are some states where there is no state tax though in some cases it could be financially
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beneficial for the military family to utilize this option then also under the veterans tax fairness act there are
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veterans who may have paid taxes on disability severance pay and in certain circumstances that disability pay is now
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no longer taxable so it's important for servicemembers that you may be encountering that that are do receive
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disability pay check into the veteran's tax and Fairness Act and see if they're eligible to apply for reimbursement or
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just be aware and ensure that they aren't paying tax on any of that severance pay in the future that just
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happy to a the next slide please talk a little bit about the new military
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requirement system I'm not going to go into a huge overview of it simply because it is it is quite large and all
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service members that they were eligible to opt into the blended Retirement System have already received training on
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that but within the blend into retirement system there are a couple of things I want to make sure that I point
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out to you one of those being that all service members are entitled to continuation pay between their eighth
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year and twelfth year of military service now when they receive that pay is dependent upon how the military
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service branch has has set that up and that is at their discretion but this does allow for a service member to
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receive a nominal amount of money based on their career field in their years in service that they may need to make a
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financial decision on that's where these personal financial managers and counselors will really come into play
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and be able to help support service members is when they're looking at this kind of funding perhaps it would be to
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fund education it could be to pay off debt it could be for a number of things but to look at their options tax
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implications and things of that nature that may impact them is very important another point that I want to make is the
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lump sum payments that is also an option to service members when they are retiring under the blended retirement
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systems the one sum option gives service members the opportunity to elect to take a payment or a one-time lump sum of
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their future retirement dollars so essentially they would take a discounted rate of their retirement pay in exchange
00:30:40
for a lump sum that they would receive up front whenever they retire and that can be in the amount of 25% to 50% so
00:30:48
when you're talking about a service number that has 20 plus years or more of retired of military service and they're
00:30:54
retiring and you're looking cumulatively at what their earnings would be for their lifetime and they take 25 to 50
00:31:01
percent of that that's a good good sum of money as well that also may have tax implications and just need some some
00:31:09
guidance and and thought put into whether or not that is the best financial option for them
00:31:14
based on their personal goals in the direction they went ahead in retirement so of course we do have resources to
00:31:20
support service members as well as they're looking at retirement and planning financially for retirement and
00:31:27
one of those is also another digital publication on the blended retirement system that provides a little bit more
00:31:33
in-depth and detailed information on all of the different components so that is a great resource that you can certainly
00:31:40
reference folks too as well then the other resource that I want to make sure that I mentioned is the military
00:31:46
compensation website and under that website there is a header for the uniformed services blended retirement
00:31:52
systems on this site you'll find all kinds of policy and educational tools and resources as well as links to our
00:32:00
online education components and a calculator that will help them determine and look at the blump sum payout option
00:32:09
so a lot of a lot of tools there on that website as well now service members are looking at
00:32:15
retirement and you can go on to the next slide please we work with the Department of Defense
00:32:21
transition veterans program office so while this program does not fall under the wheelhouse for the office of
00:32:28
financial readiness we are certainly well versed and well aware of it because as everyone knows when somebody does
00:32:34
transition from the military there are financial implications and so the transition Assistance Program has
00:32:42
created curriculum that aims to help service members understand and plan for the changes that will impact them during
00:32:49
the transition in the form of their personal finances so they offer a lot of curriculum it's a week-long course that
00:32:56
they can take at the military installation and a portion of that is very very targeted and focuses on final
00:33:02
financial planning so some of those topics include short term and long term goal setting based on an understanding
00:33:10
of their current financial situation they're also going to talk about their income and they're going to evaluate
00:33:16
what their current financial and salary information is so that they can better determine what kind of salary
00:33:22
requirements they Needham post-transition this will be really important as service members are
00:33:27
looking at potentially creating an education plan as well for post-transition
00:33:31
since not all service members necessarily attend school while they're on active duty so this will be very
00:33:38
important for them to look at and evaluating in conjunction with their education plan as well they're going to
00:33:44
look at debt and really evaluate what their current total debt is and the effect that it may have on them as they
00:33:51
move in to retirement or their next career it's also afford them the opportunity to meet with those personal
00:33:58
financial managers and counselors to set up maybe a debt repayment plan to help them pay down any personal debt that
00:34:05
they may not that they may have incurred and get themself set up on a better a better path for planning for the future
00:34:13
they're also going to talk about savings and assets and how to identify what their net worth is because there are a
00:34:19
lot of different types of retirement assets and options available especially post-transition some of those things may
00:34:25
include looking at retirement plans under the previous retirement system which we call the legacy retirement
00:34:33
system it's pretty cut-and-dry what a service member would receive in retirement as far as their pay but under
00:34:39
the new retirement system and then also moving into a civilian job where perhaps you may have someone that's 38 to 40
00:34:47
years old they may be looking at a separate retirement and understanding 401ks and different retirement options
00:34:54
will be very important to them at that point in time now all of this information because it's a lot and I
00:34:59
just kind of hit some of their key learning objectives within the transition Assistance Program but there
00:35:05
is a participant guide available that goes into more detail on all of this as far as the financial planning for their
00:35:12
transition you'll see the link they're listed on the website and is downloadable and I would encourage you
00:35:18
to maybe even take a look at that and share that resource with your service members that may begin your classroom
00:35:24
settings and then I'll transition to my last slide here and it's just mentioning some additional resources as I mentioned
00:35:33
our office does collaborate very heavily with a lot of other federal emcees and within the Department of
00:35:39
Defense there is the military community and Family Policy and they have a huge program and oversight of a program
00:35:46
called Military OneSource if you've not been to this website it's phenomenal and is a wealth of information for service
00:35:53
members and families there is a public facing side that you can certainly access there are resources available to
00:36:00
service members and families that do require a login and validation that they are in fact a registered in deers or the
00:36:10
defensive system for validating service member affiliations and so Military OneSource is a 24/7 website that offers
00:36:20
information answers and support through a plethora of family life program resources they also have individual
00:36:28
consultations and coaching available for service members and families and they also provide personal financial
00:36:35
counselors to service members as well and it's a little bit different than the program that we run in our office where
00:36:41
the personal financial counsellors are available at the military installations the services that are available through
00:36:47
Military OneSource can also be offered virtually but they have also worked with personal financial
00:36:52
counselors in local communities to be able to provide a no cost service to service members and family so just
00:36:59
because the service member isn't located near military installation there are avenues throughout the DoD that afford
00:37:05
them an opportunity to receive the service where they're at and use them where they are another resource the
00:37:10
Military OneSource offers is non-medical counseling we know that transition that military life can
00:37:16
be stressful and overwhelming at times and we also know that personal finances can play a part in that stress and
00:37:22
overwhelming feeling the non-medical counseling is also a program that can be offered at no costume military service
00:37:28
members as well and then the Millers and then Military OneSource also has another program that is a very
00:37:34
robust pack service and it's called their mill packs program and it allows service members and families to receive
00:37:43
tax preparation at no car and that is available through the Military OneSource program as well they can also silver
00:37:51
the vitae offices if they prefer to go somewhere in person but we do know that this day and age a lot of people are
00:37:56
self-sufficient and like to do things online and so that program is also available and then another program that
00:38:02
I want to mention that specific for military spouses is called the spouse career and education opportunity this
00:38:08
program helps provide assistance to military spouses on on finding employment
00:38:15
we know that military spouses have a difficult time as a transition from one location to another with their military
00:38:21
spouse and so this program has partnered with companies throughout the United States to afford military self is an
00:38:28
opportunity to pursue their careers as well another program office that we collaborate very heavily with is the
00:38:36
military consumer office and they are part of the Federal Trade Commission and they are joint initiative to empower
00:38:43
service members active duty reserve component and retired and their families with resources as a first-line defense
00:38:50
against fraud they do provide scam alert and they also provide an avenue for service members and families and the
00:38:58
general public as well to report spam we interface with them very heavily coming in the month of July through their
00:39:07
military consumer awareness month where we'll provide a lot of information resources and outreach to service
00:39:14
members and families on military consumer protection also you'll see another issue reach where we have
00:39:22
compiled addresses that talked about military consumer protections can take the Servicemembers Civil Relief Act as
00:39:30
well as the military Lending Act which offers specialized services on on protects and store servicemembers and
00:39:36
family and then a mobile program that I want to mention specifically for you all as our service providers is the military
00:39:43
family running the network this is a program that provides opportunities and education credits for those that if you
00:39:51
often see a certified financial top will have some sort of accreditation provide some in depth and higher level all
00:39:59
financial education training so that as you're working the service members of we did not provide a role you have some
00:40:07
additional tools that you might be able to utilize and then I did of course mention to CFPB on this slide because we
00:40:15
greatly appreciate the collaboration efforts and work that we are able to do with them and not to reiterate but to
00:40:23
fit stop the wealth of resources that are available on their website as service members are looking at financing
00:40:31
education so I certainly want to put some fat as well so then I know you can go to the next slide I believe it says
00:40:38
questions but I know that the questions are being helped put it in but I do want to make sure that you all are aware that
00:40:45
we do have Facebook Twitter Instagram and YouTube and we've also just recently launched our own blog series on medium
00:40:53
and the handle is still the same DoD thin red so I would certainly encourage you to check all of those out
00:40:59
for any upcoming events and engagements that we have and I record the end of the presentation where we're able to maybe
00:41:05
answer some of your questions and point you in the right direction to further support our service members and families
00:41:11
so with that I'd like to turn it over to Daniel Alvin gallio's to speak next so thank you all for your time Thank You
00:41:20
Kim good afternoon everyone Tim and I came in Tony thank you so much for all that good information hi
00:41:28
everyone my name is Daniel Conley OMB director of student services at Sierra College which is located right now at
00:41:34
Sacramento here in California I'm a Marine Corps veteran myself served five years in a Marine Corps from 2004 to
00:41:40
2009 and actually deployed three times Iraq I'm a communication myself here once I transitioned out the Marine Corps
00:41:47
so definitely now as a college administrator I'm kind of boots on ground kind of dealing with all the vets
00:41:53
here in the state of California as one of the advocates here in California next slide please
00:41:58
a couple things I'm gonna talk about today is how our California chemical system works so transition issues that
00:42:05
we've that we've seen here in California facing veterans that many of you are probably seeing at your local community
00:42:10
colleges GI Bill the stressors support the importance of veteran resource centers and also some resources that you
00:42:18
can use next slide so this you guys know there's 114 California community
00:42:25
colleges we're about to have another college added on as our as our distance College for online courses we have 1.8
00:42:32
million veterans residing in California one the large will be largest in the country and back in 2016 with eighty
00:42:39
nine thousand veterans active duty reservists and dependents attending the California Community Colleges this do
00:42:46
you guys know the way that it works here in California all of our community colleges are divided into regions and
00:42:52
there's ten regions in California and each region actually has a representative representing those
00:42:58
regions and I'm the regional rep for region two which is in Northern California and I have about ten colleges
00:43:04
underneath me that I provide support to as a regional rep there is a veteran's advise Advisory Committee that's set up
00:43:10
for the California Community Colleges chancellor's office so we do meet regularly they kind of discuss some
00:43:15
issues that bring brought up in the state amongst our colleges so it's kind of a way for us to kind of communicate
00:43:21
and collaborate to kind of share ideas and that the how to better support veterans that are entering into our
00:43:28
system and their families as well next slide of course you guys may be aware there's the GI Bill there's you know
00:43:35
there's five different chapters the benefits I won't go into them there but chapter 33 which is the post 9/11 GI
00:43:40
Bill is the main GI Bill that the veterans used as they're exiting out of the military and transitioning in and
00:43:48
it's actually the main source of income many of them when they get out they're basically starting over so when they
00:43:53
come they're coming to school unless they got a good program as far as separation goes taking their their taps
00:44:00
courses or whatnot each each branch has their different name for the separation course courses the classes that they
00:44:05
offer and you got to realize too that when it comes to GI Bill they're limited to 36 months of benefits so having the
00:44:13
type of support that Toni and Kim mentioned it's key and vital because many of our vets are going to have to
00:44:19
use those benefits wisely as they're navigating our system especially if they want to transfer to a four-year
00:44:24
university it's important to kind of realize that hey you have 36 months only so you got to utilize those benefits
00:44:30
wisely and whatever that you plan on a 1 into T Weatherby career-wise getting a AAAS degree a
00:44:36
certificate program completed or transfer to a 4-year to move on it was kind of important to kind of help them
00:44:42
realize that as they're coming to the colleges and realizing they have limitations on their benefits next slide
00:44:48
this transition issues transitioning itself can be difficult when I got out the military after five years in I was
00:44:56
stationed in North Carolina I I'm from California I when I moved back you know i destroying to navigate the system was
00:45:03
kind of hard for me and back when I got out in 2009 that post 9/11 GI Bill just came out so whenever they're entering
00:45:10
into our system especially at the community colleges you know they have to deal with the process of entering into
00:45:15
the college but also dealing with the process of dealing with VA there are policies in place that we have to follow
00:45:21
as a college to actually certify the students for their benefits so it's important to kind of realize they hey
00:45:26
these are the rules behind using your benefits and it's important to have a point of contact on campus that they can
00:45:32
realize that they can get support from um budgeting suit you know getting out again I'm into them starting over a lot
00:45:40
of them need that financial literacy piece especially how to properly use their GI Bill benefits and and the
00:45:45
benefits are included in that with the monthly housing allowance of whatnot and then navigating the Kimiko system I said
00:45:51
already mentioned it can be a typical difficult task as far as trying to figure out what they want to do in the
00:45:56
careers and whatnot being a civilian you know I always mentioned this whenever I present you know in the military we have
00:46:03
identity of who we are we're so structured we can tell by began to call up somebody or at the chest that what
00:46:09
rank they are and how to address them you know I'm I was a Marine I addressed myself as a Marine but when we're
00:46:14
entering out of the military we have to kind of figure out what our new identity is going to be and as a college we're
00:46:20
supposed to help guide them through that and kind of figure out what their next next identity will be so it's kind of
00:46:25
important to kind of realize that we play a major role in that it's in helping them discover their new selves
00:46:30
as the new identity as they're entering into the civilian world and in the nights or does it looking for a purpose
00:46:37
you know a lot of them don't know what they want to do sometimes you know some of them don't have a plan all they know
00:46:41
is that they have a GI Bill can use when they're getting out and again when they meet with a counselor
00:46:47
they have to is key for them of that counselor to realize that hey we needed to advocate them right and that
00:46:53
thirty-six months comes into play especially if they're using that the benefits and it's a main source of
00:46:57
income next slide please stressors that's it starting over if you're enlisted you do start over after
00:47:04
you get out five years in I lost my health care the only only main source of income was my GI Bill when I got out I
00:47:12
didn't really have a plan when I got and this is what I see many times with the many of our veterans getting out you
00:47:18
know family life we do have a lot of vets that are that have kids and are married and we do also have a lot of our
00:47:23
women veterans within transitioning out who are single parents so as a college we got to be prepared for all that
00:47:28
advanture obligations I've already mentioned about new career educational goals no health insurance and lack of
00:47:35
support so I've been through many colleges in California I visited a lot being the regional rep being one of the
00:47:42
main advocates in the state and a lot of cases a lot of colleges are not prepared to actually serve veterans they do not
00:47:48
have a VRC they may have abuse of one representative as a VA certifying official but that person is not trained
00:47:54
to actually deal with lot of the transitional issues that are with mental health with financial issues connecting
00:48:00
veterans or resources when they're getting out of the military at that college so it's important to kind of
00:48:05
realize that if you're going to serve veterans you need to provide that support for them and then next next
00:48:11
slide please and Inventor resource centers currently my program here Sierra serves about 700 veterans at the
00:48:18
previous college I was that we served about 1300 we are we at both colleges we were one-stop shops with all our
00:48:25
services located in one area with us having mo use with many with a VA providing mental health with vocational
00:48:33
rehab with a lot of our community partners in place to kind of have and we'll use with and that's what you need
00:48:38
to have you know you need to have your certified officials in place in the center having your own veteran's
00:48:44
counselor which I have here at Sierra College I have two veterans counselors in place and having those wraparound
00:48:50
services you know they need to be prepared and trained on all your staff needs to be prepared in training
00:48:55
actually how to serve veterans when they're in crisis all the resources and whatnot I do at least five workshops
00:49:02
a semester I'm aim that faculty and staff if we're and also to student veterans themselves so it's important
00:49:10
and this is where financial literacy you give bringing that financial literacy piece in I do hold workshops on
00:49:15
financial literacy and you have a person that I bring in to do that with those workshops VA home loans mental health
00:49:21
suicide prevention for faculty and staff those are all key points that you want to bring into the college because when
00:49:27
you're talking about changing the campus culture and making them more aware of veterans you need a blasted out there
00:49:33
and making sure that the campus is well versed in that of the transition issues that veterans face when they're
00:49:38
transitioning out and that includes the instructional faculty they need to be prepared and know that there's someone
00:49:44
on campus that they could turn to for resources and help if they see one their veteran students in need and that's
00:49:49
where the VRC better resource centers come to play and so it's important to have that some other partners right
00:49:55
there I know everyone's running out of time by now by do you want to you know answer any questions that anyone has
00:50:00
those are some of our all campus resources that we have Emily use with we even have a service stop class that we
00:50:05
offer with veterans that's covered by a nonprofit that we work with next slide you know some of our resources commute
00:50:13
collaboration mental health we did partner up with the vet centers some nonprofits like the soldiers project and
00:50:20
the VA you know Department Veteran Affairs it's important to understand the different branches of the VA you know do
00:50:26
we have a Veterans Health Administration the Veterans Benefits Administration and in the National Cemetery all three
00:50:32
different entities that deal with different things evolving VA those key for cause is another difference between
00:50:36
those three and then knowing in your states that you're at the difference between the county benefits the state
00:50:43
benefits the federal benefits for VA or veterans there is a difference between all three so if you're going to be
00:50:49
working with veterans it's important to know what those differences are in your state because each state is different
00:50:53
how they offer benefits as Sepher on the federal level so make sure you're in tune to what the your state offers as
00:51:00
far as county and state benefits so that way you can share that with your veterans when they're coming in to see
00:51:05
you and then I did partner up here in Sacramento with the Sacramento Kings and other sporting
00:51:10
and serving on their veterans advisory committees but that way we can promote games to our veterans to attend with
00:51:18
their families that way they're getting that type of support there and then I wanted to touch T on this because we
00:51:24
here in California we this recently got States funded by the by the state of California for money so we back in about
00:51:33
two years ago I helped organize operation Vet Center funding and we actually had multiple colleges
00:51:39
throughout the state of California come to Sacramento at the state capitol and actually met with every single
00:51:45
legislator there promoting and asking for funding to help support our better resource centers and they did give us
00:51:52
funding we received five million dollars this year in last year we see five million as well and that was divided up
00:51:59
based off the number of veterans that dependent certified that your call it's our benefits so now each College now in
00:52:05
the state of California is receiving some type of chemical is receiving some type of funding now from the state and
00:52:11
that helps support our vrc's there are rules behind that I won't get it again in detail about that but you have
00:52:17
questions about that please reach out to me on that but each school now is receiving a certain amount of money debt
00:52:22
from the state that helps support our programs here in California veterans emergency funding I work with a not with
00:52:29
Wells Fargo and they donated over 100 grand to up to our programs that provide strictly veterans only emergency funding
00:52:38
so the vets in need for example if there's a delay and being a benefits for a veteran we can provide that emergency
00:52:43
funding for them they'll purchase the books or provide that monthly housing loans if they have it if they don't have
00:52:49
a place yet to help provide it and there's always emergencies that come up in life so we want to make sure that we
00:52:55
are able to provide that emergency funding there to help support them and then important also is a creative
00:53:01
foundation account for your veteran Resource Center you know I work with our foundation account foundation each
00:53:06
College has some type of foundation I created a foundation account that I can actually promote out in the community
00:53:12
and ask for folks that actually provides our nation's to that account so that way you use those monies to help support
00:53:17
your program you know if you're if you're familiar with state funding or grant funding there are limitation
00:53:23
you can use the money for when it comes to that but with the foundation account you can actually use the money self
00:53:28
support events that you may have especially providing scholarships so if you haven't done that already that's
00:53:33
something you definitely should look into is creating that account and then promoting it letting people know what
00:53:37
you're kind of doing with that funding excited and that's pretty much all I have right now I could talk about VR
00:53:45
veteran Resource Center's forever and I've been working in higher ed or about nine years now but definitely been a
00:53:51
major advocate here in the state of California especially in getting that state funding which is key to to our
00:53:56
success I want to turn it over back to Buccola and thank you so much for your time everyone thank you so much thank
00:54:08
you everyone for all of the information shared today before we open it up for questions if you're wondering how you
00:54:15
can get a copy of today's presentation we will have it available on our web sites within a few weeks so feel free to
00:54:22
check our website that is consumer finance that govt you can also contact us via email if you want to receive
00:54:32
additional information about this presentation our email address is student at CFPB gov now I'll turn it
00:54:43
over to the operator to open it up for questions for our speakers thank you if you have a question please press star
00:54:57
followed by 1 on your touch-tone phone to ask a question and record your name clearly when prompted one moment please
00:56:36
are we showing any question I'm showing no questions thank you at this time okay well then thanks again
00:57:14
for to all of our speakers and thank you to all of the participants in today's webinar
00:57:19
this concludes today's webinar thank you all that concludes today's conference thank you for participating all
00:57:30
participants can now disconnect at this time speakers please hang back for your post

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