AquaRain,
First, I don’t know the nature of your offense but unless it was egregious, you shouldn’t feel a whole lot of shame. Out of all the students in the U.S. that are enrolled in college right now, how many do you feel could have toughed it out as long as you did? It is unfortunate about your situation but the sad reality is, the majority of students at other colleges across the U.S. probably would not have made it as far as you, and I guarantee a vast majority of them would have stumbled into some offense, both minor and major.
I have had several classmates separate after signing their 2 for 7, most of them involuntary, but not after a single honor offense. I don't know the nature of your offense or your record but a) the Navy is definitely cutting back, and b) they may have felt that they could not "re-mediate" you in time before graduation.
It probably seems a little unfair.....I had one classmate who ended up plagiarizing a final paper for his ethics class and then lie about it when confronted. He was lucky enough to be allowed to re-take the ethics class the next semester but he had to do "remediation" for an undetermined amount of time until the honor board saw him fit. Lets not forget the football player who tested positive for marijuana and was retained. Other classmates of mine had rap sheets that were several pages long listing their offenses. Some graduated, some separated and are now enlisted, others enrolled in another college (you can easily transfer many of your classes for credit at other universities). About 2 weeks before my graduation, between academic boards and PRT failures, my class cut 35 people. I can’t speak for all of them but from what I hear, they are doing fine. I know at least one of them is actually enlisted in the Army!
If you truly wanted to serve...then the Navy is denying you that great opportunity. For this I am sorry! If serving still calls you though, then I would try to enlist, or pursue an officer package for another branch. If you make the decision that the military is not for you or you have other aspirations, then I would strongly recommend pursuing your college degree asap. It is the unfortunate reality that a bachelors degree today is the norm for getting your foot in the door in most companies/organizations. Try to take what you can from the experiences you gained at the academy and keep charging forward.
As far as the money is concerned, I firmly believe that if you invest in yourself and pursue your passion, things generally work out for the best (however, one should also know their limits!). If you are really struggling, there are companies (Verizon being just one of them off the top of my head) that will provide tuition assistance (approx. $8K/yr) for full time employees to help pay off their student loans/debt and even fund graduate school. I’m not sure how your “big bill” is structured or how it is classified. I know that for federal student loans, if you work for the government for 10 years and continually pay off your loans during that time, the remainder of your student loan is forgiven.
Of course there are other routes to earn money that don’t require any formal education. My best friend from the academy who graduated in 2011 and was separated due to a reduction in force in 2012 is now a full time trader. He made $210K last year before taxes. They won’t teach you that at the academies! Invest in yourself and pursue your passion, and you will be far happier and better off. Don’t let the debt cloud your judgment.