Financial Education Resources for Veterans [Video]

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