<p>Looks good and no annual credit card fees. Is there a place near the academy he can deposit directly to USAA or is he planning on depositing to NFCU then transfering to USAA? In other words will NFCU be his home account so to speak?</p>
<p>Thats the $100,000 question. Don't know how he'll utilize this new account yet. There are no branches I can find but I imagine he'll use whats in his NFCU account to transfer from time to time. Guess this a wait & see kind of thing. He'll wait to see how his next ship does it's pay & go from there. Don't know how often he'll see land being MSC or if they'll issue actual pay checks. Maybe LFWBDad knows? Its nice to know about the check scanning going directly into your account. Don't know if he'll utilize that either. Oh well. He now has three accounts going.... We'll see which one ends up being the most useful.</p>
<p>A quick question, a little off topic. Does the USMMA academy offer its graduates the a 30k loan after graduation for about .75 percent interest rate. I know UNSA and USCGA offers it and I forgot to ask the admissions officer this question.</p>
<p>Yes, we were wondering too about the USAA loan at graduation? Does USMMA get it too??</p>
<p>Also, I saw mention a while ago about a car insurance break from USAA for kids that go to the Academy. Can anyone tell me about that at all? I've been with USAA for 20+ years now but don't know about that perk.</p>
<p>Thanks!</p>
<p>They do get a loan offer. Don't know the specifics other than its a darn darn darn good one. Son has told me about it but I've apparently put it to the far part of my mind since 2 years is a ways off yet. KP2001? Know the details on this one? Can't comment on the car insurance other than to say when the kids graduate, they'll more than likely go with USAA due to the great rates.</p>
<p>USAA Banking: a great deal, but there are very few branches; as in one at West Point and one in San Antonio and I think that's it. Previous to the newest addition of scanning checks at your computer and that being the deposit method for USAA you had to mail your checks to them unless it was direct deposit. They don't charge any ATM fees so alot of people like it. I personally use NavyFCU as they have branches at all the Navy bases and I just prefer to have a physical branch i can go to for certain things.</p>
<p>Graduation Loan: yes, USMMA 1/c are elgible for this loan. I personally did not partake and can't remember the full details. I do seem to remember that it wasn't quite as good as I thought it would be. Many in my class did take advantage though.</p>
<p>Insurance break: Have not heard of this, other than you can get a break by taking them off your insurance while there at Kings Point without access to a car. My parents used USAA while I was there and I don't think they got anything.</p>
<p>I learned (at least in our state) that higher insurance rates apply for the first three years after the license is granted. That means at 19 (given you too were at the DMV at opening time on your kid's 16th birthday) the kids rates drop nearly 50%. We were advised even though a student may not take a car to school with them to retain them on insurance for the three years at least so that went they take on insurance themselves they will start at the lower rates. Also one other trick, when you take them off your insurance they have to surrender their license. </p>
<p>If anyone knows other info please...pass it along.</p>
<p>USAA treats them as if they are out at sea without access to a car. They remain on your insurance policy and are even covered if they are home on break but there is no charge for them while in school or drive a car if home on an occasional weekend. They may require them to be paid for if they are home more than 4 -6 weeks on a break. My son was put on this program when he did a semester at sea his junior year in HS and again while he is at USMMA. I cannot remember the name of it, but if you call up & tell them that your child will be attending USMMA without a car, they will know what you are talking about.</p>
<p>We had a similar experience. The first go-round with the insurance company was fruitless, but when I suggested that USAA would be glad to have our business and suspend charges for our son at Kings Point, they discovered a new spirit of cooperation. We supplied a copy of his letter of appointment and they deleted him as a "rated driver." I am not certain if this policy applies uniformly, state by state, and I suspect your claim/accident history may be a factor as well. However, given the rates for young adult males, it is at least worth a try. Your midshipman will gladly spend the money you save in New York City.</p>
<p>We have Allstate. They put the boy on "away" status & we've really saved some dollars. Didn't have to do anything special such as supplying proof of him being at KP. But then again, our insurance guy is a family friend. He told us with son only being back home maybe three times a year, we could remove him as a rated driver. Seems to be per the company policy & not by state since so many of us have done this?</p>
<p>yes, DH took care of the car insurance policy, and I know we saved a ton of cash by him going to KP. He is still listed on our policy, but we don't pay much to have him on, if anything. I am not sure what status they have declared him, but I am just happy.</p>
<p>We have liberty mutual.</p>