- “Financial resources on base: Every military installation has a personal finance management program, on-installation counselors, and on-base advisers that can help answer financial questions.
- Financial resources off-base
- NFCC and Military OneSource: The nonprofit NFCC partners with Military OneSource, which offers strategies to help service members consolidate and pay down debt, as well as save for retirement or college and create financial plans. The NFCC, which is the longest-serving and largest national nonprofit financial counseling organization in the U.S., also has a branch specifically to help with military families' debt relief.
- Financial Institution Regulatory Authority: The Financial Institution Regulatory Authority (FINRA) offers a fellowship program for military spouses to earn an Accredited Financial Counselor certificate and to develop financial skills. The program is in partnership with the National Military Family Association, and there is no cost to participants.
- ClearPoint Reconnect: The program provides online and phone counseling in English and Spanish, online financial education (courses include Managing Financial Stress and Reshaping Credit) and identifies local resources to help veterans reach their short-term financial goals and create economic stability. The counselors are knowledgeable about opportunities through HUD, FDIC and the U.S. Department of Veterans Affairs. ClearPoint has partnerships with organizations such as New Directions for Veterans and Operation Homefront. ClearPoint, an Atlanta-based division of Money Management International, says there is no cost for military service people to participate.
- Consumer Financial Protection Bureau's Office of Service member Affairs: The CFPB, a government agency that makes sure banks, lenders and other financial companies treat consumers fairly, recognizes the unique financial challenges military families face. CFPB's Office of Service member Affairs monitors complaints, and offers tools and resources to assist military homeowners, make student loans more affordable, provide predatory loan protections and recover money for military members who have been targeted by scams and illegal practices.”
Article Link: http://www.ktvb.com/article/money/magnify-money/these-resources-can-help-military-veterans-get-out-of-debt/507-528965771