Asset Development: Debt Considerations in Vocational Planning Asset Development & Vocational Rehabilitation 30-Second Training Series

TACE Center: Region IV, a project of the Burton Blatt Institute. Funded by RSA Grant # H264A © 2013 Why Does Debt Matter in Vocational Planning?

TACE Center: Region IV, a project of the Burton Blatt Institute. Funded by RSA Grant # H264A © 2013 Why Does DEBT Matter in Counseling and Guidance? It doesn’t. Vocational Rehabilitation’s role is to assist an individual with a disability to obtain employment. A client’s financial situation is none of our business unless the client has resources to pay for services. A B If a client is in debt that is an issue. The counselor should pay attention to the level of debt because it can be an indicator that the client is irresponsible. The counselor may want to conduct a work assessment to determine if the client is serious about working. C Select the best answer The level and type of debt a client is in can impact not only multiple components of vocational planning but ultimate employment success as well. Poor credit scores can impact career options. Clients may quit work because wages are being garnished. The level of wages the client needs to earn to get out of debt may require long term planning. The client may not be successful without additional assistance in financial literacy or debt reduction programs.

TACE Center: Region IV, a project of the Burton Blatt Institute. Funded by RSA Grant # H264A © 2013 Incorrect … Vocational Rehabilitation’s role is to assist individuals with disabilities in obtaining or maintaining employment. Debt in today’s society impacts individuals’ ability to obtain or maintain employment. What do you mean they wouldn’t hire me because of my credit score!

TACE Center: Region IV, a project of the Burton Blatt Institute. Funded by RSA Grant # H264A © 2013 Incorrect… There is no correlation between being in debt and being irresponsible about work. People are in debt for many reasons. Medical expenses, for example, are one of the most common reasons for debt.

TACE Center: Region IV, a project of the Burton Blatt Institute. Funded by RSA Grant # H264A © 2013 You are on the money! CORRECT! We need to be aware of clients’ debt so we can refer them to services that help them think strategically and assist them in creating a pathway to a strong financial future. Employment is the first step in that journey. Resources Student loan debt To learn more, visit TACE's Asset Development Exchange [tacesoutheast.org/network/ax/] TACE's Asset Development Exchange

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TACE Center: Region IV, a project of the Burton Blatt Institute. Funded by RSA Grant # H264A © Disclaimer This presentation was developed by the TACE Center: Region IV ©2013 with funds from the U.S. Department of Education, Rehabilitation Services Administration (RSA) under the priority of Technical Assistance and Continuing Education Projects (TACE) – Grant #H264A However, the contents of this presentation do not necessarily represent the policy of the RSA and you should not assume endorsement by the Federal Government [34 CFR (b)].