DCUC Provides Key Considerations to Senate on Financial Literacy Ahead of Education Secretary Nomination

WASHINGTON, D.C. – Today, the Defense Credit Union Council (DCUC) sent a letter to the Senate Health, Education, Labor & Pensions Committee highlighting key financial considerations regarding Linda McMahon’s nomination as Secretary of Education.

​DCUC Chief Advocacy Officer Jason Stverak emphasized the Department of Education’s critical role in financial education, student lending, and service member protections—"issues central to DCUC’s mission and the financial well-being of those who serve our country.”

In the letter, DCUC provided the following key recommendations:

Enhancing Financial Literacy

• Partner with credit unions to integrate financial education into schools, especially in military communities.
  
• Expand digital financial resources and promote DoD-endorsed literacy programs.
  

Student Loan Reform

• Streamline Public Service Loan Forgiveness (PSLF) for service members and expand eligibility for military families.
  
• Improve oversight of loan servicers to prevent misinformation.
  

Credit Union Involvement in Student Lending

• Reduce regulatory barriers and allow credit unions to offer student loan refinancing.
  
• Ensure fair policies that support credit unions as key financial educators.
  

Protecting Military Families from Predatory Lending

• Strengthen oversight of deceptive lending practices targeting service members.
  
• Collaborate with consumer protection agencies to enhance borrower protections.
  

DCUC’s letter also referenced a supportive case study, sharing how since 2017, Redstone FCU has launched student-run branches in eight high schools and three colleges, providing financial literacy, work experience, and scholarships. The program has awarded $52,000 in scholarships and generated over $742,000 for schools through specialized debit cards.

DCUC urges the committee to seek clarity on McMahon’s stance on these issues and looks forward to collaborating with the Department of Education to support military financial readiness.

​For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy.