Money $$$$$

Discussion in 'Merchant Marine Academy - USMMA' started by 2013Parent, Jun 3, 2009.

  1. 2013Parent

    2013Parent Member

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    Hey everyone.....

    Any idea when the final version of first year fees will be communicated? Also, what is the process to get reimbursed, for mileage, after delivering our little darlings to KP for INDOC?
     
  2. idahogreers

    idahogreers Member

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    What about reimbursement for air fare?

    At the advice of the Travel Office, we booked DS' flight to Kings Point ourselves. We were able to get a price much lower than the Gov't rate (ours isn't fully refundable) and the flight is much better. Since we are all flying back together and spending a few days before Indoc, we didn't want the very ugly flight the Gov't travel office was going to have to use (Idaho - to LA - to Memphis - to NYC)

    So, same question - what is the process for getting reimbursed for the flight?
     
  3. OldAirForce

    OldAirForce Member

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    I think my son was reimbursed for his flight out. Don't count on seeing it. I didn't.
     
  4. kpmom2011

    kpmom2011 Member

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    Your son will be told how, and given the forms to fill out for the travel reimbursement. Like oldairforce said, don't plan on seeing it because it is deposited directly into the mids account. For those that drive, reimbursement for mileage driving is given the same way.
     
  5. 2013Parent

    2013Parent Member

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    any thoughts on first year fees?
     
  6. Texmom

    Texmom Member

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    fees

    I spoke with financial aid yesterday. The first year fees are $2783, $2079 of which will be due the with the first payment. I was told that we would see the billing statement sometime in the next couple of weeks. Last year, the money was to be paid by a date late in June. I don't know the due date this year. The remaining two installments will be $352 each.
     
  7. KP13Mom

    KP13Mom Member

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    Just received our invoice in today's mail. $2,079, for 1st trimester, is due by 6/27/09. $352, 2nd trimester, is due by 11/10/09 and the final amount of $352 for the 3rd trimester is due 3/16/09. The 2nd and 3rd trimester amounts are estimates according to the invoice.
     
  8. kp13

    kp13 Member

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    Just got the Invoice today
     
  9. KP13Mom

    KP13Mom Member

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    Obviously, KP13 and I are working from different computers.:rolleyes:
     
  10. 2013Parent

    2013Parent Member

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    Wow ! Even lower than the estimates in the "Loggin In" book.
     
  11. 2013Parent

    2013Parent Member

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    Got our invoice yesterday!
     
  12. kpmom2013

    kpmom2013 Member

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    Additional Scholarship Money

    We just got the invoice yesterday and in the same bunch of mail received notification letter for a $3,000 scholarship for DS. Talk about perfect timing!Does anyone have any experience coordinating the payment of fees with additional scholarship money? Can the money for fees come directly from the organization that granted the scholarship? Will Kings Point hold the extra scholarship funds for next year? Any information anyone has would be appreciated.
     
  13. TX2KP

    TX2KP Member

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    Great question. DS also got some scholarship money and I'm planning to call next week to coordinate.
     
  14. Mindy G

    Mindy G Member

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    Congrats on the schlorships, how nice
     
  15. WESKI

    WESKI Member

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    The good news is that it is quite a financial bargain. However, it comes with blood, sweat and tears on your son/daugher's part as well as odd things on campus. There has been a major change this year in funding things at USMMA (thus the lower fees). Appreciate this and plan on many goodie bags and letters andcards of support. But do buy a nice merlot for yourselves after Parent's Day in September! :biggrin:

    DO support your local parents association, the Alumni assn and the Athletic Department with generous contributions, as they fund many of the nice things/activities at school.

    On the downside, there is a significant dropout rate the 1st 2 years; 20-30 percent, depending on how you count. So don't spend it all yet!:rolleyes:
     
  16. Mindy G

    Mindy G Member

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    I was told that the drop rate is similar at the other Service Academies and other high level schools. Don't know if it is true but thought I would pass the info along.
     
  17. kpmom2011

    kpmom2011 Member

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    Not quite Mindy. Perhaps your information was "drop out" rate, as opposed to flunk out a/k/a dis enrollment rate. Drop out rate may be the same as the other SA's, but I would imagine that the "dis enrollment rate is much higher at KP, and with the institution of fewer set backs I suspect we may see the dis enrollment rate actually go higher.
     
  18. NYBEAR

    NYBEAR Member

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    Taxes - 2010

    Is any of the $1,996 that I paid to US DOT/MARAD eligible for an American Opportunity or other 2010 tax credit? The invoice basically only has total charges and due dates. I know it is not tuition but some fees may be eligible post secondary school expenses that qualify for a tax credit or deduction.
    I'm sure we will not receive a 1098-T.
     
  19. DogCarbon

    DogCarbon DS - USMMA 2011

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  20. KP2015MOM

    KP2015MOM Member

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    I think the college credit is for books fees tuition only....
    Not sure if there is anything in the IRS code that says you can only take credit for what is on a 1098-T. If the expense is a qualified expense and allowable expense I believe it should qualify for the tax credit.

    I also have a 529 plan in place and was hoping to take funds out of that to cover the misc fees for living and the computer... technology is a qualified 529 plan expense.
     

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