Veterans

October 26, 2012

DOD helps troops with student loan expenses

By Lisa Daniel
American Forces Press Service

WASHINGTON, D.C. — The Defense Department is again working with the federal Consumer Financial Protection Bureau to help service members with their higher-education expenses.

Defense Secretary Leon E. Panetta and Holly Petraeus, the bureau’s assistant director for service members’ concerns, announced they are starting a training program for judge advocate general personnel, personal financial managers and education service officers. The training is to spread information about the benefits and consumer protections service members are afforded under the Service Members Civil Relief Act, including interest rate reductions, loan deferral programs, principal reduction options on certain loans for service in hostile areas, and loan forgiveness on certain federal loans for public service.

“We also plan to push out the message through a variety of media to all service members,” Petraeus said. “We want them to know that even if they did not know about or ask for student loan repayment benefits when they entered the military, it’s not too late to do it now.”

The announcement came as the bureau released a report outlining the unique obstacles service members report in trying to pay off student loan debt. The hurdles they describe range from not being able to get the information they need to hitting roadblocks when pursuing benefits.

With many entering service with tens of thousands of dollars of debt — and financial problems being the No. 1 reason troops lose their security clearances — the intervention could go a long way in helping ease the burden of college debt.
In an effort to educate military consumers and the advisors seeking to assist them, the bureau has developed a guide for service members with student loans. Service members also can use the CFPB’s Student Debt Repayment Assistant online tool at www.consumerfinance.gov/students/repay.

The new outreach on student loans is the latest to make higher education more affordable and easier to attain for service members and their families. Last spring, President Barack Obama signed an executive order cracking down on colleges and universities that prey on service members, their families and veterans.

As military benefits go, the Post-9/11 GI Bill is one of the best, which is why some 325,000 service members and 550,000 veterans have pursued college degrees under it. With the help of the protection board, the DOD created a memorandum of understanding that colleges and universities must abide by, including providing clear information about their programs, before GI Bill money can be used there. The change goes into effect Jan. 1.




All of this week's top headlines to your email every Friday.


 
 

 
HHM_14_Poster

Hispanic Heritage Month: Knowing the facts

In 1988, Congress established National Hispanic Heritage Month by amending the 1968 law that created National Hispanic Heritage Week. Under this law, the president was asked to issue an annual proclamation designating the “31...
 
 
4-of-11-photo

U.K. cemetery resting place for 452nd men

(Fourth in an 11-part series that was first run in the Beacon in 2007) Thirty men killed while serving in the 452nd Bombardment Group during World War II are buried at an American military cemetery near Cambridge, England. They...
 
 

Comprehensive Airman Fitness: A lifestyle and culture

WASHINGTON (AFNS) — Comprehensive Airman Fitness (CAF) is comprised of a multitude of targeted programs and activities as well as resiliency skills taught to enable Airmen to make sound choices. The program’s goal is to build and sustain a thriving and resilient Air Force community that fosters mental, physical, social and spiritual fitness. The new...
 

 

Suicide prevention takes courage, communication, official says

WASHINGTON (AFNS) — The Veterans Affairs Department has named September National Suicide Prevention Month, but the Defense Department continues its year-round, comprehensive, multi-pronged approach to address the issue of suicide in the military, a Pentagon official said Aug. 21. Army Lt. Gen. Michael S. Linnington, military deputy to the Under Secretary of Defense for personnel...
 
 
U.S. Air Force photo/Tech. Sgt. Megan Crusher

Padres honor Team March Airmen during Air Force Appreciation Day

U.S. Air Force photo/Tech. Sgt. Megan Crusher San Diego Padres second baseman, Jedd Gyorko, greets Senior Master Sgt. Donald Branscum, 1st Sgt., 452nd Civil Engineer Squadron, as he took his position on the field, during the Pa...
 
 

Air Force revamps Air Expeditionary Force

WASHINGTON (AFNS) — The Air Force will deploy Agile Combat Support (ACS) Airmen under its redesigned air expeditionary force (AEF) construct October 1. The primary purpose of the redesign was to look at ways to deploy more ACS Airmen with their units and standardize dwell times across the Air Force as much as possible to...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Directory powered by Business Directory Plugin