<p>I read there was a substantial loan $6,000-$10,000 or something like that, that is incurred upon entrance into the academy to pay for uniforms and such. My dad wants to know if this loan is required or can one pay on sight all or a portion of that loan. Also can checks be made from home after I-day to clear the remainder of the loan up? </p>
<p>Were not super rich or anything but my dad wanted to contribute some towards it, and he hates the idea of loans. Is this possible? Also with no outstanding loan to the government will there be any effect on monthly allowances/net pay?</p>
<p>you have to take the loan. this is how you are "issued" your uniforms, computer, deoderant, everything. then the Academy will automatically take it out of your pay each month. Technically cadets get $900 a month, but as a freshmen, we only see about $150. about 18 months after in-processing, you will no longer have any money being deducted. so your parents can't send money directly to get rid of the loan, but they can still send you money! :) honestly though, $150 a month is plenty as a freshmen since you can't do anything with it! and that amount steadily increases over the 18 months.</p>
<p>I'll add a note (somewhat related)...
If you have bonds/scholarships/etc. that can only be used at a college, you can have it sent to the academy. I had a college savings bond, which had to be used at a college. My parents had the academy use it to help "pay-off" the loan. I didn't get my pay increased (or deducted less), but when cadet finance settled my held pay, I got a pretty nice paycheck.<br>
[Part of cadet's pay is deducted monthly (called held-pay), and used for issued stuff/"magic money." At the end of that 18-ish months, finance will pay the cadets any funds remaining in their held-pay account...unless they've changed their system recently...]</p>