Free Financial Counselor Training for Spouses

February 9, 2006

By John Buhl

Some military spouses can become accredited financial counselors for free. The National Military Family Association (NMFA) partnered with the NASD Investor Education Foundation to create the Military Spouse Fellowship, which pays for tuition, registration and study materials.

The fellowship offers 200 military spouses access to the Accredited Financial Counselor Program. Upon completion of the program, participants are accredited financial counselors through the Association for Financial Counseling and Planning Education (AFCPE).

To be eligible, applicants must be current or surviving spouses of active duty or retired members of the Army, Navy, Air Force, Marine Corps, Cost Guard, National Guard or Reserves.

Other requirements are a high school education, an interest in financial education and familiarity with military protocol. Preference will be given to military spouses with college degrees, financial or banking experience and/or military community volunteer experience.

The program requires 18 months of self studying (approximately four to six hours per week) with periodic group conference calls. Participants also must take examinations and meet certain score requirements.

Participants are required to pursue additional financial counseling experience while earning the certificate.

To accommodate unforeseen circumstances that military spouses often encounter, spouses in the program can receive a one-time extension of up to four months to complete the program.

Applications can only be submitted online. The application deadline is Feb. 14, 2006. Participants will be notified by March 15, 2006.

After receiving accreditation, spouses will have several potential careers available to choose from. AFCPE-accredited counselors work in credit counseling, law and banking, as well as community and family service agencies.

For more information, visit www.nmfa.org/site/PageServer?pagename=afcpe_faqs.