Financial Changes at USCGA

Discussion in 'Coast Guard Academy - USCGA' started by USCGAhopeful, Apr 22, 2012.

  1. USCGAhopeful

    USCGAhopeful Member

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    I was talking to a one of my friends from high school (now a 4th class cadet at USCGA) and he told me that there were going to be a lot of financial changes starting next year. He said that the white card accounts were being removed and that cadets would be paid their full paycheck but that they would also have to pay for all uniforms, books, etc directly rather than charge it to their white card. Can anyone confirm this, and if so, explain it in a little more detail?
     
  2. USNA1982BGO

    USNA1982BGO Retired Staff Member

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    This is already the case for 3/c and above where they are receiving the majority of their paycheck based upon their current white card balance (our cadet, a 3/c, receives the majority of their salary). It is very important to learn financial management and what better place than USCGA? :thumb:
     
  3. shellz

    shellz Parent

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    From what I can glean from 2/c son, they must keep a certain balance on their white card acct. (or rather, it is kept FOR them). Anything above said balance is paid out to them in two payments per month. Some months it's feast some months it's famine....depending on what needs to be purchased (ie, rings, swords, expensive lab equipment, etc).
     
  4. Luigi59

    Luigi59 Banned

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    Learn the phrase "visit the money ninja." :wink:
     
  5. USCGAhopeful

    USCGAhopeful Member

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    Thanks for the replies :)

    Money ninja?
     
  6. trackandfield08

    trackandfield08 USCGA 2014

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    The system has actually been completely revamped, most of it due to the fact that the Coast Guard was audited and is now having to deal with figuring out how to cut costs and such. Because of this, the Academy will now be following the normal military pay periods. Cadets will be receiving paycheck every two weeks. The 3rd and 4th class will receive x amount every two weeks and it will be a higher amount for 2nd and 1st class.

    Supposedly, this will give us much more financial responsibility...the white card account is completely going away and we will now be responsible for making sure we stay within budget, balancing money for more fun activities as well as the costs any civilian college kid has, books, supplies etc...with the addition of uniforms, dry cleaning, tailoring, that kind of thing. I think this is a great idea because its something cadets should learn before they get into the fleet. What is not good, in my opinion, is that yes, they give you this money, but then tell you how and where to spend it. For example, even though I will now be responsible for paying for my books out of pocket, I can still only buy them through the bookstore. I paid $750 for my books this semester through the bookstore...I did some research and found that I could have purchased/rented all of my books for a grand total of about $275. That's what budgeting is in my opinion...figuring out what you need and then finding those items or needs at the lowest price possible.

    But I digress...yes the system is changing and I'm sure Mr. Filipinas (aka the Money Ninja) will explain everything to the incoming class of 2015.
     
  7. SamAca10

    SamAca10 Ensign - DWO

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    I think you mean 2016 T&F :wink:

    But she makes a good point. The Academy is pretty much extorting money from the Corps by making us purchase books through the bookstore.
     
  8. trackandfield08

    trackandfield08 USCGA 2014

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    Wow...yep that's embarrassing. I was thinking 2016...that will teach me to proofread before I post.
     
  9. LineInTheSand

    LineInTheSand USCGA 2006

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    We only ever called her Harriet.
     
  10. USCGA13STN

    USCGA13STN Member

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    Ah but she got replaced by a different person.
     
  11. LineInTheSand

    LineInTheSand USCGA 2006

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    Yeah, Harriet was old. I had heard she retired.... I think our Tide Rips was dedicated to her... I know one of my four were... can't remember which though.
     
  12. CGBear87

    CGBear87 Member

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    Harriet... haven't heard that name in awhile... brings a smile to my face! Thanks!
     
  13. USNA1982BGO

    USNA1982BGO Retired Staff Member

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    Harriett is missed :thumb:
     

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