ACE loan and Initial Fee

No clue as to the discrepancy. Just quoting information from printed material.

The process of how our kids at the SA's are paid is what I find as valuable information. :smile:
 
Although all midshipman have to take out the ACE loan, is it possible for parents/relatives pay that upon entering the academy?
 
Profmom2 said:
Plebe Summer every Plebe will receive $50.00 at the End of July and End of August. Starting in September it goes up to $100.00 per month. This is all that is "left" after all of your deductions from your ~850 per month pay. Starting in July of 3/c year your cash pay (no not in cash but deposited to your Navy Federal Account) is $200.00 per month, and then in 2/c year it goes up to $300.00 per month. Starting your first class year it looks more like a real paycheck as the loan is paid off it but there are still some fees that will be subtracted at different times of the year so some months will be above $500 and others more like $350 (you pay for your Alumni membership,2 months and Books)
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So as I understand it, the $50.00 during Plebe Summer, and the subsequent $100.00 a month Plebe year, we actually receive in an account; that is after payment of a portion of the ACE loan and expenses. So out of the ~$850-$900 pay we are really getting, the majority of it is just going to pay for the ACE loan, etc, and we just see more of it as the years go on?

Just trying to clear up.
 
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How much is the loan for? And can it be paid upfront? If so, would the Plebe get his or hers full pay? (less extraordinary fees)?
 
Don said:
How much is the loan for? And can it be paid upfront? If so, would the Plebe get his or hers full pay? (less extraordinary fees)?
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I don't know the amount, but it's nominal. Back in my day I seem to recall a number of around $3-5,000 or so.

As for paying it up front, I'm not sure if you can, but I wouldn't bother doing so. To begin, I doubt the financial benefits (if any) would be significant, and secondly (more importantly) you just don't want to stick out as a Plebe for stuff like this. Everyone else pays it and makes due with the difference, so there's no reason to upset the apple cart. In my first semester as a Plebe, I received the princely sum of $50 per month. Second semeseter saw us REALLY in the money by receiving $100 per month. My parents sent me a little extra if I needed it, which I rarely did.
 
Thank for the insight. Don’t stick out, that’s as good as advice gets.

Where’d you get that Obama quote? It’s pretty scary.
 
Strictly satire (for now). A spin on the quote from Winston Churchill. The fact that more than one person has thought it's real speaks volumes, IMO.


Regarding sticking out, if you REALLY want to stick out as a Plebe, do it because you got on the Supe's List, or because you broke the 400M swim record in Lejeune, or because you saved an old lady from a burning building....

NOT for stuff like paying off your loan early, memorizing Reef Points before Plebe Summer, etc. :wink:
 
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