To begin the process of earning college credit for service, Marines may order their Sailor/Marine ACE Registry Transcript (SMART) at https://smart.navy.mil. From there, they should research which institutions will accept units from their military transcript as transfer credits. A good bet would be one of the nearly 1,900 Servicemember Opportunity Colleges (www.soc.aascu.org) – higher learning institutions that have formally agreed to award credits, when appropriate, for military training.
Service members and veterans may also earn credit before enrollment by participating in the DoD’s DANTES credit-through-examination programs, which include the 38 DANTES Subject Standardized Tests (DSSTs) available at www.getcollegecredit.com. Many separating service members will be additionally eligible for educational benefits from their respective state governments, and should check out the websites of their state veterans agencies.
Financial Assistance
Military families listen closely as Lewis Summerville, financial specialist, teaches how to manage money in the ‘Beyond the Brief’ class at Midway Park aboard Marine Corps Base Camp Lejeune, N.C., Sept. 19, 2012. Summerville answered a lot of questions and concerns attendees had for different situations and scenarios. U.S. Marine Corps photo by Cpl. Anthony J. Kirby
The VA offers a number of financial services to separated service members. To help purchase or refinance a home, it guarantees loans, through qualified lenders, of up to 103.15 percent of the purchase price, or a 20 percent second mortgage and up to $6,000 for energy efficiency improvements. No down payment is required for VA loan amounts up to $417,000. The specifics of a particular loan, in a particular county, vary widely among applicants, and Marines are urged to connect with a loan counselor at the Ginnie Mae website (www.ginniemae.gov) or by calling (800) 569-4287. Complete VA loan information is available at www.benefits.va.gov/homeloans.
The government also makes a number of insurance options available to veterans. A Servicemembers’ Group Life Insurance (SGLI) term policy, for example, can be converted to a Veterans’ Group Life Insurance (VGLI) policy after separating from active duty. As of 2005, the maximum amount of VGLI that can be purchased is $400,000. VGLI is a term policy, but can be converted to an individual permanent (whole life or endowment) plan with more than 50 participating insurers. The VA also offers veterans access to low-cost life insurance options that include coverages for spouses and children, as well as traumatic injury and mortgage protection. To learn about premiums, coverage, and other options for life insurance, visit the VA’s Insurance Center at www.insurance.va.gov or (800) 419-1473.
Many additional resources – for family and caregiver support, child care, money management and financial counseling, and other services, offered at the national, state, and local levels – are available through large, broad-based portals such as Marine for Life, the National Resource Directory, and eBenefits.
For all the challenges of active service, the multitude of concerns uncorked on separating service members – including work, education, and finances – can still seem overwhelming. Fortunately, there is a wealth of support for Marines. When then-Commandant Gen. James Jones directed the establishment of Marine for Life in 2002, he said, “For those who have served honorably, our debt of gratitude must extend well beyond their last day of service.” Many Americans – as the multitude of support programs now available to Marines across the country demonstrate – share Jones’ sentiment.
This article was first published in Marine Corps Outlook: 2012 Edition.