<p>hmmm... no one said it ever comes easy!</p>
<p>No, but it is stinging to a parent who shows up with their child and is required to take out a loan.</p>
<p>Look, folks. Think about it. Your kid gets a $350,000 education for an investment of $2,500. Not even Microsoft stock gives returns like that. It's also not a secret, so parents shouldn't be showing up not knowing the amount is due.</p>
<p>Besides, people borrow more than they should because they "need" a new TV or car. At least this is for something worthwhile.</p>
<p>Yes, other loans were mentioned. They know the amount that is due, but are worried about how to get it. </p>
<p>Financial situations are not equal for everyone. I'm glad my son is getting a stupendous education! I know exactly how much it's worth (and so does his guidance councelor because it makes the school look sooooooooooooo good for them; users). NEway, while it's easier for some, it's not for others. Nuff said.</p>
<p>atrmom- shopping card? I thought it belonged to the kids. We get one as a parent? -</p>
<p>
[quote]
while it's easier for some, it's not for others.
[/quote]
</p>
<p>No doubt. Believe me, I know. I've been swimming in loot and on the verge of bankruptcy. However, sacrifices often have to be made. I've never heard anyone complain about it.</p>
<p>The NAPSters really have the best deal: The $2500 is garnished from their pay while at NAPS, so it really IS a free ride.</p>
<p>Entrance Fee and Advance for Clothing and Equipment Loan</p>
<p>Entrance fee and ACE Loan: Every midshipman candidate is required to pay $2500.00 entrance fee. The entrance fee is used to partially defray the initial cost of outfitting each Midshipman with uniforms, computers, and supplies. Each midshipman also will receive an interest free government loan. This ACE loan is repaid through monthly pay deductions from the Midshipman pay starting in September of their Plebe year. The amount of the loan for the class of 2010 was authorized up to $6000.00. All Midshipman receive this loan upon taking the oath of office on I Day. This loan is independent of the $2500.00 Entrance fee.</p>
<p>For the Class of 2010 Scholarships may be used to pay all or part of the entrance fee, and/or offset part of the ACE loan. Scholarship funds in excess of $2500.00 will be applied to your Ace Loan balance. A letter from the awarding organization outlining the authorized use of the scholarship should accompany the scholarship check. </p>
<p>I would think that this will be the same for the class of 2011. Mine still applied for scholarship $ after he accepted the Appointment and some scholarships also can be used towards books.</p>
<p>Also, your plebe’s travel to USNA will be paid for or reimbursed. We paid and were reimbursed, I think there also was an option to have USNA book the travel, but I’m not sure.</p>
<p>No one is complaining about making sacrifices for their children. That's what being a parent is about. I have the stretchmarks to prove it. Ouch.</p>
<p>USNA garnishes, too, is what I've read and have been told. There were questions this morning, and after swimming in my own ignorance for a while (it's quite shallow there with all of the little sea urchins), I asked. However, I made the mistake of calling USNA, instead of letting the boy do it. From now on, Boy will make the phone calls. I'm a handing over the reins, pardner!</p>
<p>with all do respect... </p>
<p>what was the plan if the child did not get into the academy? Again, no disrespect intended, but even the best community colleges charge "something" far more than what is being requested at USNA...</p>
<p>personally, I know lots of kids who worked their way through college- me included...but expecting to pay...nothing???? hmmm.....</p>
<p>Our friend's son went to USAFA with a $3000.00 scholarship and it was put towards that.</p>
<p>Personally, I'm still paying off my student loans and I also worked my way through.</p>
<p>"Our friend's son went to USAFA with a $3000.00 scholarship and it was put towards that...."</p>
<p>And you son too can get on the scholarship hunt. He can use scholarship money to pay the $2500.00.</p>
<p>We did that for our son. He recieved one $2500 scholarship and one for $500 </p>
<p>USNA Class of 08's entrance fee was $2200 which gave him a little cushion, but he still paid the plebe loan. </p>
<p>He makes $300.00 now as a 2/C and he's just applied for his 2/C loan so he can buy his car. $30,000 at 1/2% with a 60 month term that he won't have to start paying back until after graduation. Not bad at all</p>
<p>Even as plebes they are thinking "what will make a good "Ensign-mobile" for $30,000. Doesn't cost anything to dream so may as well dream big!</p>
<p>Tell him to go to Carmax in Baltimore and buy used, then invest the rest.</p>
<p>Trust me. I wish I'd done that.</p>
<p>Profmom2-</p>
<p>Thank you, but I was putting out the feelers for another parent. I'm okay with the fee, but thanks. </p>
<p>Additionally, he is already on the hunt for extra scholarship dough. BSA (Boy Scouts of America) has some good ones.</p>
<p>Actually Zaphod, he is planning on only spending about 18-19,000 on a car and investing the rest. Every company has a financial representative that goes over investment options starting their plebe year so he's been listening and learning for 2 1/2 years. He figured that there's no point in getting a shiny new car when it's probably going to be spending most of it's time outside especially for the next few years!</p>
<p>Smart kid! :D</p>
<p>"has a financial representative that goes over investment options starting their plebe year"</p>
<p>System does seem to work as mine is now the first to say "that costs too much" We almost have to convince him to spend any money. - but over breaks will still try to get mom to pay.</p>
<p>Sounds familiar. Our son couldn't spend his money fast enough when he was in high school, but not anymore. Now, he tracks every dime. We still deposit a little bit of money into his savings account every once in awhile just to help out. His eyes really opened up when he had to spend a month in San Diego for summer training. The phone calls were priceless usually starting with "Mom, you would not believe how expensive (fill in the blank) is!! I love when they hit that reality wall!!!</p>
<p>atrmom-</p>
<p>So, the sieve actually stops? My son spent a HUGE chunk of his pay check on a PS3 (I think that's the name), then hits me up for gas $. </p>
<p>I can't wait! :D</p>