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2	AER Mission and Operations
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4	AER Eligibility and Access Eligibility: Active duty Soldiers and family members Army National Guard and Army Reserve Soldiers on active duty over 30 days and their family members Retirees and family members Surviving Spouses and Orphans GRANTS Access: Army Installations - 90 locations worldwide Thru other Military Aid Societies - 317 locations worldwide The American Red Cross - 760 local chapters and two Emergency Communication Centers (after duty hours)
5	Emergency Financial Assistance Interest Free Loans and Grants Assistance for: Travel Rent Essential POV Medical/Dental/Hospital Funeral Expenses Rent/Utilities/Clothing No-pay Natural Disaster Widows (Grants)
6	Exception to Policy AER Regulation (AR 930-4) provides regulation guidance but does not cover all situations Exception to Policy Authorities Garrison Commander Staff at Headquarters AER Criteria Best interests of US Army and Soldier Director, AER reserves authority to make exceptions to eligibility
7	Commanders’ Referral Co Cdr/1SG can approve interest free loan up to $1,000 Program fully implemented 31January 2006 YTD, 30% of all assistance cases Army – Wide Key is proper emphasis by Co Cdr/1SG Company/Battery Chain of command can directly respond to financial needs of Soldiers “The Commander’s Referral program is an incredible tool…..It empowers the chain of command and helps protect the Soldier!” - Company Commander, Fort Hood
8	“Alternatives” “Pay Day Loan” $1 per day per $100 borrowed = APR 360% $25 for 15 days = APR 600% Pawn Shop Loans: $12 per $100 per month = APR 144% (VA) $25 per $100 per month = APR 300% (FL) 2006 Defense Authorization Bill places cap on Payday Loans at 36%
9	Children’s Scholarships (AY 2007-2008) 2,766 Children awarded Scholarships Max $4900 Student Average $3114 per yr X 4yr = $12576 $8,653,750 Total Dollars Awarded Over 900 Colleges & Universities participating Annual increase in scholarship amount consistent with increase in college tuition & fees
10	Spouse Scholarships OCONUS (AY 2006-2007) 1029 Spouses receiving Scholarships $918,135 Total Dollars Awarded Overseas part time (ESL, CLEP & DANTES) CONUS (AY 2007-2008) - 495 Spouses receiving Scholarships - $1,156,250 Total Dollars Awarded - 158 Colleges & Universities participating Stateside must be full time Max $2700 per year
11	Widow Assistance All assistance is in form of grant Applies to widows of active and retired Soldiers Monthly financial aid program Free Lifetime membership in Armed Forces Services Corporation (AFSC)
12	Lifetime Membership in Armed Forces Services Corporation (AFSC) For Surviving spouses and families of Soldiers who die on active duty Partnership between AER and AFSC AER pays for lifetime premiums Casualty Assistance Officer informs families of services Letter sent from AER Director to Surviving Spouses offering AER assistance and free membership Services provides annual printout with information regarding life insurance, survivors benefit plan, Veteran’s Administration benefits, and Social Security entitlements
13	AFSC Good News Stories Widow of SFC (Pentagon attack): law change, wasn’t receiving SBP Lifetime future value of +$116,000 Widow (CW2) missing commercial life insurance AFSC initiated claim for $800,000 Widow (CPT) not included in SGLI retro-increase law change AFSC prepared ABCMR request, recently approved = +$150,000 Widow (CPT) unaware of law change – SBP “Child Only” option AFSC coordinated new SBP option. FV = $328,000 Widow (MSG) not receiving DIC AFSC prepared VA claim = Lifetime future value of $1.02M
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15	Source of Funds and Investment Management AER Funding Sources (2007) - $68.3M* Loan repayments 68.8% Annual Campaign 14.8% Interest and Dividends 12.9% Unsolicited donations 2.5% Investment Portfolio Preserve corpus of Soldier funds Insure fair rate of return AER Investment Policy Investment Management – Northern Trust Global Advisors
16	Recent INITIATIVES Commanders Referral Program Co Cdr/1SG can approve up to $1000 (Simplify – Expedite – Streamline) Lifetime membership in Armed Forces Service Corp for surviving spouse. Spouse education now available world-wide. Children’s scholarship limits increased to $2,700/$4,900. Children of Soldiers who die on Active Duty receive maximum. $200 Grants for evacuated Wounded Warriors. Expanded “Auto Repairs “ Normal Maintenance & Safety Items Hurricane Katrina & Rita Loans converted to Grants ($856K)
17	"AER is our ability to..." AER is our ability to “Take care of our own.” The Army family taking care of soldiers!