First Round of Offers

The MOCs have 72 hours to notify the candidate of their appointment.
After that they can learn of their appointment other ways:
- it can appear on their portal or
- the BFE arrives or
- the FFR or RC can tell them.
 
cs27thunderbird said:
does anyone know the conditions of acceptance? such as how many days before you need to decide, any deposit, etc?

good luck to all.
Click to expand...

You have until 15 April to accept your appointment.
The deposit last year was $2,ooo. It is not due upon acceptance.
 
As with last year, it looks like the first round of BFEs were mailed in 2-day Priority Mail flat rate envelopes (based on the WP Admissions FB photos), which means some candidates may receive theirs as early as Saturday (if truly mailed today) or by Monday.
 
Cadets pay an initial $2,000 deposit to offset the cost of uniforms, computer, equipment, etc. Here's a summary of the expenses each cadet incurs over 4 years: http://www.usma.edu/parents/SiteAssets/EXPENSES CLASS 2018.pdf

All of the expenses (less the initial $2,000 deposit) are taken out of the cadet's monthly pay. If you receive scholarships, you can apply them to the initial deposit, as long as they aren't earmarked for tuition or room & board.
 
It is used to set up the Cadet Account, which is like a bank account for the cadet but it is with USMA, not a financial institution.
Cadets receive pay and have expenses. Their pay (minus expenses) is deposited into their cadet account. Initially, they will incur more expenses than pay so the deposit helps cover those initial expenses. They also receive a pay advance to help cover those expenses.
 
ca2midwestmom said:
Cadets pay an initial $2,000 deposit to offset the cost of uniforms, computer, equipment, etc. Here's a summary of the expenses each cadet incurs over 4 years: http://www.usma.edu/parents/SiteAssets/EXPENSES CLASS 2018.pdf

All of the expenses (less the initial $2,000 deposit) are taken out of the cadet's monthly pay. If you receive scholarships, you can apply them to the initial deposit, as long as they aren't earmarked for tuition or room & board.
Click to expand...
Do you know if a National Merit Finalist scholarship could be used towards the out of pocket expenses?


Sent using the Service Academy Forums® mobile app
 
The way they explain it, is that it is to establish their cadet account and to offset or front load the expenses of the first year. Since the bulk of the expenses at West Point are in the first year, it is you or your cadets way of offsetting these. IMO it is USMA's way of a financial commitment in that if you write a check, you are coming and will not back out if a better offer comes along.
 
Financial questions are way outside my lane!
Once a candidate accepts their appointment, they will soon receive (via the portal), Instructions for Candidates Offered Admission. This will tell you everything you need to know and do prior to R-day, including info about the financial things.
I don't think you can use monies from 529 plans because that is earmarked for tuition and you can not use anything that is specified for tuition to pay towards the $2000.
 
Scholarships must be purposed for miscellaneous expenses, not for tuition, in order to apply them to the deposit/cadet expenses. Examples would be ones that allow for books. You will need to coordinate this with the USMA Treasurer once you have ACCEPTED your appointment and COMPLETED the forms to establish your account. Since the federal government is already paying your tuition, room, and board, plus giving you a salary that covers your expenses, don't expect any FAFSA support. You'll need to consult a tax accountant on the 529 piece as to whether or not you will be able to make withdrawals without penalty.
 
ca2midwestmom said:
Cadets pay an initial $2,000 deposit to offset the cost of uniforms, computer, equipment, etc. Here's a summary of the expenses each cadet incurs over 4 years: http://www.usma.edu/parents/SiteAssets/EXPENSES CLASS 2018.pdf

All of the expenses (less the initial $2,000 deposit) are taken out of the cadet's monthly pay. If you receive scholarships, you can apply them to the initial deposit, as long as they aren't earmarked for tuition or room & board.
Click to expand...
Thanks. Navy does it with a loan. With Navy I was able to use our 529 plan, but there is a limit (Navy was $17,500) if I recall. At the time I spoke with Navy disbursement office. Not sure what the Army calls theirs but I am sure when the time comes for those with appointments they will be extremely helpful like Navy.
 
If you choose to NOT pay the $2000, it's taken from your cadet pay over time...so your monthly disbursement is less for the first year or two...there are ways around the money...or at least, in the past there were.
 
529 funds MAY BE USED, HOWEVER, because a Service Academy is NOT a Qualified Educational Instituion per IRS regs (Publication 970), parents may withdraw funds from a 529 fund for any use, including the $2000 deposit. However, you will need to include the GAIN on the withdrawal as ordinary income on your 1040 next year (or, if the check from the 529 Account is written out from the Plan to your cadet, then your cadet will need to include the GAIN as ordinary income on his or her 1040 next year). There is no penalty associated with the withdrawal, but the gain and only the gain is taxable income. You or your cadet (whoever's name is on the check from the plan) will receive a 1099Q from the Plan detailing the amount of gain that must be included as ordinary income.

Also, the cadet account maintained by the Treasurer does initially take all pay, deduct expenses owed (haircuts, laundry, uniforms, books, etc) and then the remainder of the pay check is direct deposited into your cadet's personal checking account. In the packet of forms your cadet will receive in the Spring is a direct deposit form for the remainder monthly pay - about $275 for plebes who have paid the full $2000 deposit, less for those who cannot.
 
Ice64 said:
It is helpful to myself and my DS. He likes knowing what is happening to everyone in this process. It is also very helpful to me in very tangible ways such as when to put a down payment on another school. Since through this forum I know the first wave of appointments are on their way, I will delay sending in my Plan B deposits till the end of next week. I hope not to be sending in the plan B deposit.
Click to expand...

I would still send in deposit for plan B. My older Mids were appointed in October of their senior year. We still sent in deposits for plan B. Mids wrote a letter with drawing from plan B before they left for I day, but we did not mail the letter until AFTER parents weekend in August. You just don't know what could happen between now and the time the academic year starts. They could have an injury that rolls them back a year, or during summer training they could decide its not really for them. You just never know.
 
To support falconchic's point, and speaking from personal experience, PLEASE send in the deposit for plan B.
Last year DS sustained a very late season HS sports injury just weeks before I-Day for which he was DQ'd. Just weeks! If we had not deposited the dollars to his plan B university (and it was almost on oversight because our attitude was "What could possibly happen this close? The kid has never been injured in his life") he'd be at community college and in a whole different place as a re applicant. I encourage you to plan for the unexpected.
 
bucketlist said:
Has anyone's portal updated yet? NO BFE today.
Click to expand...
No, but I did message my FFR asking if my file went before the board, and he said it did, and confirmed I should find out about my status " by Monday or Tuesday I expect"

Since I am a re applicant, I asked mainly because last year I didn't hear until end of April (my RC said they were really close to offering me), and I am applying to transfer Uni's and I'm wondering if it's worth waiting to do that or not (would probably lose a slot if I waited until April)

Welp, I got a 4.0 taking the courses they asked, improved my packet all around, improved my CFA, brought my ACT up to a 31/32, got my 3Qletter,, and 3 noms. As much as I will be happy to know my status, I'm just hoping not to get knocked out of the admissions process this early in the game.
 
You must log in or register to reply here.
Back
Top