<p>Do service academy parents supplement the pay their cadet/midshipmen receive from Uncle Sam while at an academy? If so, is there a generally accepted amount that is given? I am starting to work on my 2007 budget and don't know what to include. I assume that most parents pay for travel to and from an academy at a minimum and some parents may give their cadet/midshipman a monthly allowance like other college kids, but I am not sure. Any help would be greatly appreciated.</p>
<p>I seem to spend an awful lot of money on airfare. There are more weekends to come home than I ever expected (not complaining at all). And with at least 3 trips to West Point during plebe year for several family members, it adds up - especially when the hotels in the area set a very high rate for the big weekends. Then again, I send lots and lots of boodle, too, which adds up in a big way. I've noticed that more and more pizza is being ordered and delivered in the evenings also.</p>
<p>We live about 50 miles from WP. So travel cost is minimal. They really don't have anything to spend money on and they get a monthly salary. I randomly give my son money when he's home but no allowance. He seems to enjoy being independent. I buy him dinner or lunch when we go up to visit. It's even difficult to buy gifts - minimal amount of civilian clothing needed, etc. I asked my son today whether he wanted an iPod - said he wouldn't have time to use it. And remember, after Plebe year your cadet will no long qualify as a tax deduction for you.</p>
<p>Really, is the tax status after plebe year for all the academies?</p>
<p>Our experience with our plebe is like BigGreen's, but we have major travel expenses like momoftwins. So we give our son extra spending money when he's home, but he's on his own while he's on post. Like BigGreen's son, our son enjoys the independence, but a couple extra bucks in the pocket when visiting with friends over the holiday isn't too bad either.</p>
<p>IMHO- kids are no different than the rest of us when it comes to $$$$- never enough of it, always welcome, hard to come by and gone if a jiff! </p>
<p>Allowance is a very personal thing- they can (and do) survive without it, but it certainly goes a long way in making it a bit more enjoyable when they can spurge on a pizza or sports event - (the latter thay have to purchase tickets for themselves for those that require tickets)- the way we look at it, if he needs he asks and we send- and then we always tuck in a bit extra in those care packages that ship on a regular basis...</p>
<p>now that is something to budget for- all those $8 boxes at the postal service! LOL!!! I am on a first-name basis with just about every postal worker in a 10 mile radius between home and work..... :eek:</p>
<p>what is costing me $$$$ are all the gym fees while home on break....between the gym and Y, the former to stay in shape and the latter to try and validate out of swimming classes.... add in the protein shakes and keeping the refrig stocked- double :eek: :eek:</p>
<p>but to have the little angel home and in his own bed.... priceless! :o</p>
<p>My parents didn't have me on an allowance or anything, but if I needed money all I had to do was ask.</p>
<p>Fortunately, I wasn't a big spender back then, so I didn't bug them much.</p>
<p>And girls just love buying clothes that they have no time to wear. I think it's really just about the shopping and having new clothes that aren't part of a uniform.</p>
<p>No allowance for my Plebe. Cant afford it. I do take her and roommate to lunch whenever I can, they can and I'm in Annapolis. Have in the last six months slipped her maybe $30.00, and kept the care packages going. I ask if she needs it, she tells me no. Doesnt seem to be doing without anything. I know her roommate is in a similiar situation. We are close so travel isnt expensive. She was always conservation with money, seldom asked for additional funds, guess some things never change.</p>
<p>FWDAD: </p>
<p>What, if any, money you give your cadet is totally up to you. I relay our experience in hopes that it gives you one perpective on this topic.</p>
<p>Our USMA yuk son likes the financial independence of paying his own way. So far he has been able to cover his expenses (except for airfare home) out of his monthly pay (first year $200, now $300) and the "top-off" money he received at the end of his plebe year. A simple explanation of Top-off money is that it is "extra" money left at the end of the year if the cadet spends less than expected on books, uniforms and some other items. Our son had about $1000 of top-off money last year. Cadets can leave the money in their cadet accounts or spend it. I don't know how this works at the other academies.</p>
<p>Our financial support to our son has been limited to covering airfare home (No small sum since he has come home 5 times this calendar year). If he choses to go somewhere else, such as his showshoe backing trip to Colorado last spring break, it is on his own account.</p>
<p>The $200 monthly pay seemed to be enough plebe year since the cadets had limited free time. However, this year our son has more free weekends and more opportunities to spend money(online as well as off base). Our son has found living on $300 a month this year harder than living on $200 last year. He's also learned that trips to New York City or even the local mall are expensive. I loved hearing him say "I spent over $100 last weekend in NYC and didn't do anything!" It's a great lesson for him to learn. I'm convinced he learned far more about personal finance by spending $100 of "his own" money than spending thousands of dollars of "mom & dad's" money.</p>
<p>This week our son was already talking about wanting a car spring semester of his third year when cadets are first allowed to have one (and cadets get access to the $30,000 cow loan). His enthusiasm was tempered by hard financial reality when he calculated the cost of owning a car. By the end of the discussion he was saying that the $300-400 a month cost(low estimate if you factor in all the costs) for a car might not be worth it and it may make more sense to wait until after graduation. I am certain that conclusion would never be reached if he was spending "mom&dad" money.</p>
<p>In closing, guess what our son said he wanted for Christmas. You guessed it,
"Money, Dad. No gifts, just money."</p>
<p>Additional Thoughts - finally figured out what gift to get my son for Hannukah this year - a top-of-the-line Braun electric razor. I told him it was more for us not having to look at him being scraggly, than for him.</p>
<p>Also, my son hates to spend money - he set up an account at mutual fund to deposit his salary and he seems to enjoy watching the amount grow. Market's been good this year so he's done quite well.</p>
<p>Thanks for all the advice. It is greatly appreciated.</p>
<p>Our story is pretty much the same as others posted here. We do also receive the Alaska Permanent Fund Dividend, so that is placed directly in son's account annually, and after half goes to the Roth, the other half serves to augment the monthly stipend. </p>
<p>We pay the travel expenses (generally between $1,000 and $1,200 per round trip ticket) and have accounts at Navy Federal so that we can transfer any funds directly as needed (we paid for a skydiving trip in Bowie, for instance). No real allowance, but a few dollars here and there. Son had enough to pay for his own ring, although we insisted on replacing the funds. We do reimburse for the cell phone bill, though, since we want to hear from him. :)</p>
<p>Travel for us settled down after plebe year, but we are gearing back up for Firstie Year next year. Firstie parent weekend, Army-Navy, Commissioning, will all put a pretty sizeable dent in our budget. That's okay, though, we'll earn many frequent flyer miles! </p>
<p>The only other huge expense---the USNA wardrobe! :)</p>
<p>Actually, 99% of parents are not able to claim their cadet as a dependent even for the year they enter the Academy. Unless you can prove that you provided more $$$$ to their support during that year than the Academy did. The figure has been in the neighborhood of $33,000 or more. </p>
<p>Cadet allowance ...... nope. We did pay travel costs as they are considerable for us and supplied money if it was really needed.</p>
<p>In addition to our son's cell phone and travel expenses at Thanksgiving and Christmas, we also pay for his magazine subscriptions (Newsweek, USN&WR, Scientific American...).<br>
Care packages have cost us about $1.00 per pound from OH to USAFA. One of the first requests our son had after basic was rather expensive. He asked us to send him Under Armor type compression shirts and briefs. I spent at least $300 for black short sleeve shirts and boxers. Our son said that package was a God Send. Do you really want your cadet uncomfortable and chafe?<br>
Don't forget gifts for your sponsor family.</p>
<p>This is a little off topic but I was wondering what happens to all of the scholarship and FAFSA money that a cadet earns when they get to the academy.</p>
<p>Ksarge - if you get scholarship money that is not restricted for tuition or room and board use only then you can use it at the service academies. They will put it in your cadet account and it will be used toward other items such as your computer, books, uniform fees, etc. If you are awarded a scholarship check with they entity that gave it to you, they will tell you if it is limited or not. I am not 100% sure about FAFSA but I think if you are at a service academy you would not be eligible for any federal aid since the government is already paying for your tuition, room and board, medical and dental.</p>
<p>I found the following information on the WA State USMA Parents Club website under FAQ. The link is: <a href="http://www.west-point.org/academy/malo-wa/educators/faqs.html%5B/url%5D">http://www.west-point.org/academy/malo-wa/educators/faqs.html</a></p>
<p>Outside Scholarships
Q: My son has received a couple outside scholarships and is a finalist for a large scholarship from a nationally known corporation. The scholarship can be used at any US accredited school for post-secondary study. My question is: Has anyone had any experience with outside scholarships at West Point. I know his scholarships can be applied toward books, ect. The instruction manual he received along with forms for bank drafts and police record checks states the first year a cadet will pay approximately $10000 for books, uniforms, ect which is deducted from their cadet pay. Does that mean the amount for books will not be deducted from his pay if he has a scholarship directed toward that? How exactly has it worked in the past?
A: The question was posed whether cadet candidates can receive outside scholarships. The answer is YES.... and NO. As the admissions packet clearly states: Cadets are permitted to receive scholarships. HOWEVER, since there is no tuition, room or board charges at West Point, scholarships stipulated "for tuition, room or board only" or based on need rather than merit cannot be accepted. If the scholarship can be used for textbooks, uniforms, or other expenses, inform the donor to make it payable to Treasurer, USMA. ..... and yes, if the scholarship goes into his cadet account, (as provided above) it will offset the cost of books, etc.
That said, it is really up to the individual corporation how they frame the scholarship. Personal experience: Our older son was a National Merit Finalist, and did, in fact, receive a NON-NEED based, merit scholarship - to wit, the Duracell Community Service Scholarship. However, under the language of the National Merit Board at the time, individuals attending any of the military academies were specifically precluded from receiving the scholarship money, even the base honorarium amount.
He also received a Thomas J. Watson Scholarship from IBM, and under those terms, he was entitled to a one-time $2,000. honorarium from the scholarship program, not the $2,000.00 PER YEAR non-need based amount stipulated for students attending other institutions and having no financial need.
Likewise, he received a scholarship from the State of Connecticut, and the very day he reported, we received a call that "as USMA was not either a public nor a private institution as determined by their regulations" he was not eligible for his honorarium... Not public? Go figure.....
He was awarded several local scholarships, and they sent the money in to the Treasurer.... This money has been in his cadet account, and it just means that his balance in that account is a tad bit healthier and wealthier than it would otherwise have been.
Bottom line is - it's NOT going to be West Point holding back on the ability to obtain scholarships .... it's more likely the guidelines and interpretations (and sometimes misinterpretations) of the administrators of those outside scholarships.... Apply to any/all - but look upon it as "found money" if any comes through.....</p>
<p>Ok thanks that help a lot</p>