outside scholarship and the USNA

Discussion in 'Naval Academy - USNA' started by Pasquinel, Jan 21, 2010.

  1. Pasquinel

    Pasquinel Member

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    If a candidate gets scholarship money from a corporation, say $1000.....but the coproation needs to send the check directly to the college and not the candidate......will the USNA accept the check and apply the monies to the candidates out of pocket incidentals? How exactly does this work?
     
  2. Kero

    Kero Member

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    Don't know how exactly the process works but it generally goes towards paying off your ace loan.
     
  3. Pasquinel

    Pasquinel Member

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    sorry I am a notice what is an ace loan?
     
  4. Kero

    Kero Member

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    It is an interest free loan that the academy gives each mid to offset the onetime cost of plebe issue (ie: computers, uniforms, etc.) You pay it off automatically from your pay over the four years. Most people pay it off late 2/C year.
     
  5. Pasquinel

    Pasquinel Member

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    Thank you very helpful replies I would assume that outside scholarship monies can be sent directly to the USNA and the USNA will know what to do with it, applying it against this ace loan, correct? Do you know approximately how much money this ace loan is, that gets automatically paid off during the 4 years?
     
  6. Kero

    Kero Member

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    It used to be $6500 but I think I saw that it was up to $8500 now.
     

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