Recipient Organization
UNIV OF MARYLAND
(N/A)
COLLEGE PARK,MD 20742
Performing Department
FAMILY AND CONSUMER SCIENCES
Non Technical Summary
This project provides instruction on financial management for service members assigned to Walter Reed Army Medical Center (WRAMC) to support the operational and mission readiness of the Department of Defense (DOD). This project provides classes for first term soldiers at WRAMC who must receive an eight hours of mandatory training at their first duty station. This class is designed to improve financial readiness and of military members and their families. Class topics include pay and entitlements, banking, checkbook management, budgeting, saving, the Thrift Savings Plan and individual retirement accounts, insurance, credit management, car buying, major purchases, and information. Family In collaboration with the "Financial Readiness Manager" (FRM) at WRAMC, a year long schedule is established for one on base eight-hour instructional day each month, additional days or part days have been scheduled as needed. The instructional space, computer equipment, and LCD projector are provided by Walter Reed Army Medical Center. Promotion of the class is done by the FRM through the WRAMC intranet system. The curriculum is based on the mandatory topics as designated by DOD. PI and the instructors are responsible for instructional materials and the copies of handouts and worksheets. Each attendee receives a training packet, a pre-test and post-test. An end of class evaluation is collected and returned to the FRM at the end of the session. Participants are expected to increase their financial knowledge and their financial well-being in the long run as results of attending the class. The FRM provides the certificate of completion for participants.
Animal Health Component
100%
Research Effort Categories
Basic
(N/A)
Applied
100%
Developmental
(N/A)
Goals / Objectives
The purpose of this agreement is to provide support to the Commander, Walter Reed Army Medical Center (WRAMC), Army Community Service, Consumer Affairs/Financial Assistance program in assisting service members and their families in areas of basic financial management. This financial management training, provided by the University of Maryland Cooperative Extension, is essential to improving the quality of life and financial readiness of soldiers and their families. Individual program components, staff requirements, and costs will be addressed in a mutual agreement by the University of Maryland and the WRAMC. The mandatory program is a standardized curriculum for First Term Soldiers in Personal Money Management. The U.S. Congress and the Department of Defense have directed all services to provide standardized mandatory personal financial management training for all first term soldiers (E1-E5). First term soldiers were initially to receive twelve (12) hours of personal financial management training. Soldiers now receive an additional eight hours of mandatory training at their first duty station. Commanders are expected to ensure that this training is received [IAW DODI 1344.7 and AR 608-1 (Army Community Service), AR 600-15 (Indebtedness of Military Personnel) and AR 360-81 (Command Information Program)]. The University of Maryland Cooperative Extension has been designated to provide the mandatory training to the Walter Reed Army Medical Center Community.
Project Methods
A year long schedule (eight-hour trainings on base once a month) will be established by the PI in collaboration with the "Financial Readiness Manager" (FRM) at WRAMC. It is possible that additional days or part days will be scheduled as needed. The instructional space, computer equipment, and LCD projector will be provided by Walter Reed Army Medical Center. Promotion of classes will be handled by the FRM through the WRAMC intranet system. The curriculum is based on mandatory topics designated by DOD. The PI and instructors are responsible for providing instructional materials and copies of handouts and worksheets for participants. Each attendee receives a training packet, as well as a pre-test and post-test. A class evaluation is collected and returned to the FRM at the end of the session. Participants are expected to increase their financial knowledge and their financial well-being as a result of attending the class. The FRM provides the certificate of completion for participants.