Financial Literacy

Financial literacy is a crucial tool when navigating the world of loans and payments. The military provides its members and their families with resources that help understand the different types of loans available to them. The need for financial literacy for military families has been focused on with efforts such as the Servicemembers Civil Relief Act in 2003, the Military Lending Act of 2007, the Higher Education Opportunity Act of 2007, policy actions by the Consumer Financial Protection Bureau, and news reports. Resources that meet the need to protect military families from predatory lending and promote their postsecondary education attainment are provided not only within the federal government, but also by professional and not-profit organizations.