<p>Wait.. isn't the ACE loan or what ever the 2,500 to begin with?</p>
<p>Alright.. this makes no sense. How many different stipends are there?</p>
<p>And it's a loan integrated into the payment system, right? So as long as I stay at USNA it comes straight out of my Mid pay, and when I finish, I will owe nothing, correct?</p>
<p>I'm sorry I sound so clueless.. I wasn't informed about any of this from my Command Career Counselor or the OPNAV instructions I used as a reference located on the USNA website. The only thing they stated was about the 2,500 up front fee.. which is now nullified, at least in the context it was in on the instruction.</p>
<p>The ACE loan is about $9000.00. It covers everything that is "issued" to you. You are right, it will all come out of your mid pay and you will owe nothing when you finish. Mid pay is about $900.00 per month, but you will only see $100.00 of it each month for plebe year, 200.00 per month for Youngster year and so on until the loan is repaid. These figures are approximate and are subject to change.</p>
<p>So, it is still better that you don't have to pay the 2,500 up front.</p>
<p>And for the issue of how that "loan" falls all on the shoulders of the mid by coming out of his/hers pay... so what. We'd still be getting paid as Mids.. and for a top-notch education and great experiences followed by great career options to come along with a pay check... that's not something to complain about.. at least in my mind.</p>
<p>You're correct in that you will receive a world-class education, degree and commission.</p>
<p>And in your case, presuming especially that you are effectively emancipated from your parents, i.e. you're on your own, this mode does indeed work better for you. Either way you'd be responsible, and so your point is that it might be troublesome for you to pay $2,500 w/in the next 60 days or so, and in any case in advance of I Day.</p>
<p>Now re: your point that ...
[quote]
...so what. We'd still be getting paid as Mids.
[/quote]
Given your druthers, which would you prefer to be net paid let's say as a youngster ... $100/month or $150/month? Well, at some point, altho the figures will be other than those in my illustration, you'll be paid the $100/mo. because you are paying for the $2,500 computer fee that you took out in loan.</p>
<p>Thanks 2012Mum for 'splainin' . In summary, it's not waived or eliminated. It's simply paid for via payroll deduction vs. writing the upfront check which Plebes in 2011 and earlier did.</p>
<p>"Whew! Is this Kansas, Toto?" :eek: </p>
<p>"No, and who told you red pumps were part of the uniform of the day, Plebe!" :mad:</p>
<p>Haha.. thanks for the clarification. Whistle Pig.. I completely understand what you mean, and I know that my pay will essentially be less than some other mid that used scholarship money for the fees, but to me that doesn't particularly matter to me. Studies and other things are quite more important than being all nostalgic about leaving "the yard." </p>
<p>Now I know I can't predict what I'll be doing, but I'm sure this pay cut I'll be receiving (from Enlisted pay to Midshipman) won't be too detrimental to my overall experience as a Mid.</p>
<p>Actually, if any of you have scholarships, they can help pay the ACE loan. It is kind of complicated, but later you will be glad you went through the hassle of getting it applied to the loan.... more $$ in your pocket for other stuff. Either that, or hit up your parents for spending money. Been there, done that.</p>
<p>Superdoc - all mids (in class year) get the same pay stipend: $50 PS, $100 4/C year, $200 3/C year $300 2/C year and then your firstie year, Ace loan is paid off, and your pay will reflect your actual deductions so can very every month. Hopefully by then budgeting will be second nature.</p>
<p>All mids have the same pay grade.</p>
<p>Payout of held pay is where there will be differenced. More for those with Scholarship, and more for those who watch their Midstore spending. If you over spend at the Midstore you will bill rather than a check.</p>
<p>Yes, I understand. And I know we're all the same pay grade, and budgeting is second nature for me. I'm not one to blow all of my money. And as above, it isn't necessarily that I like this new policy because I'd have trouble paying that 2,500 in the next 2 months, it's that it is more convenient that way.</p>
<p>And.. scholarships aren't an option for me either. I think that when I stated that "that pay cut wouldn't be too detrimental to my experience as a mid" people may have been confused.. See, I'm Enlisted, and I'm currently receiving Enlisted pay, but when I transfer over to the Academy, it will be stopped and I'll receive a hefty pay cut down to Midshipman pay.</p>
<p>Yes your pay will decrease to a Mid monthly stipend but you will have all those extra "chest candy" rows to show prior service. I am always surprised at the decorations displayed by prior service Mids. Have seen some Purple Hearts which is truly amazing.</p>
<p>Funny, but we know a "prior" Mid, and the one thing he often complains about ..."No $$$." He'd a hot car, apt, etc. and many of the acoutrements essential to young men on the prowl. But as he reminds ... "temporary inconvenience for lifetime improvement"</p>
<p>"NO $$$$" is a constant complaint for any pay grade. I remember trying to do New Orleans weekends and Gulf Coast Beaches on $90 a month LOL. Came off the pipeline construction making $450 a week. Talk about wallet shock!</p>
<p>Hahaha Whistle Pig, I can totally attest to that as well. Won't have my Mustang there with me.. kind of a shame, but It's alright. I really haven't been "In the Fleet" long enough to re-adjust to normal life after all of the boot camps and training commands I've gone through while deprived of all the necessary, as you said it, "acoutrements."</p>
<p>And I definitely agree that this is just "a temporary inconvenience for a lifetime improvement." It's gonna be a good thing for me.</p>
<p>The chest candy or what ever is nice too.. but I won't be showcasing any silver stars or purple hearts.. a pat on the back for all those who did though.</p>
<p>My son mentioned that many plebes had a difficult time adjusting to the $100/month ($25/week) they see in their pay. Many had jobs as High School students and were used to having more discretionary funds. Pretty difficult to supplement the King Hall "cuisine" on that amount. </p>
<p>Graduation gift suggestions:</p>
<p>Gift cards to chain food places, Drydock gift cards, wholesome and filling care packages from home, to mention a few.</p>
<p>I hadn't heard of plebes who had a hard time adjusting to the $100/month. For all of plebe summer and so far MOST of Ac Year, there is NO TIME to spend money. By the time our plebe thinks to ask about money, another month has gone by. Now and then, a pizza is a nice supplement, but for the most part, every minute is so busy, there's not been time to spend money.</p>
<p>I would say I did have one that did have a hard time adjusting to $100.00 a month. Especially as the class of 2010 had a lot of overnights as Plebes. Even to this day he does enjoy the food gift cards and a decadent care package or two! (Grandma is good for the CC cookies) Annapolis can be expensive.</p>
<p>The "Loan" is 0% All have it whether you send scholarship money or not. If 529 or scholarship money is sent then there will be a bigger payout when overage in held pay is distributed. You will need to check with tax accountant as to what is allowable under 529 or Coverdell. Must be for educational purposes - my understanding Uniforms etc are not allowed. We used the Coverdell for books and computer. </p>
<p>Subway, Moes, Starbucks, City dock cafe (can order these - alternative to Starbucks - City</a> Dock Coffee) are all just outside gate 1. Plebes especially like these as they can walk to them on a Sat afternoon.</p>
<p>The plebes would get really good at making financial decisions when every purchase was an easy percentage of their pay. (That soda is not "only $1" but 1% of my pay!)</p>
<p>Friday night take-out is very popular -- Chick 'n Ruths, Pizza, and Chinese Food. Cash is always good for this (versus putting it on the Yard Card)</p>
<p>The nice thing is that unlike most colleges - almost all the plebes are in the same boat financially. Even those that get more $$ from home generally just work off the $100 like all their friends. I think there was a lot less pressure to spend, have, and do.</p>