Parking on campus
Cadets receive their $35,000 loan around mid spring semester of their second-class year. Some of the cadets purchase cars at that time but are not permitted to park or drive on campus. My son is a first-class cadet. Several of his classmates purchased their cars and rented parking and/or garages off-campus. They are not permitted on campus until they are first class cadets which is after graduation in mid-May. Since they normally begin their three-month summer cruise prior to graduation, most will not be able to bring cars on campus or utilize campus parking until they returned from summer cruise/summer vacation in mid-August. The upper parking lot I believe is reserved for cadets with higher rankings. My son has to shoulder bars and is able to use the upper parking lot. The remainder of the cadets use global parking lot.
The cadets are often a $35,000 loan at 0.5% interest for a term of five years. Repayment of the loan is deferred for over one year and begins three months after commissioning. Total interest on the loan for the full five years is in the range of $500. Monthly payments are close to $600 at that time. Most events get insurance through USAA which runs about $100 per month but varies based on where the car is registered.
For the class of 2012, freshman could not drive any car unless they were beyond 75 miles from campus. I am not sure but I believe I read that they cannot drive motorcycles at all. For the underclassmen, a bus service is provided hourly during times when cadets have liberty. The service takes them to various sites including shopping centers in the New London area. The Academy also provides vans driven by upperclassman to transport students to walk campus.news appointments if needed and also off-campus volunteer work.