scholarships

Discussion in 'Military Academy - USMA' started by HydroJim, Dec 13, 2013.

  1. HydroJim

    HydroJim Member

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    I have a few question regarding national and local scholarships.

    I understand that if the scholarships are applicable to expenses beyond tuition, then they can be accepted by USMA cadets and deposited into the cadet account.

    My question is this: say I were to receive a $10,000 scholarship. Now I'm not sure of the exact cadet expenses for the first year but lets say they were $8,000. So now, your cadet account has $2,000 in it and you still have $10,000 worth of cadet pay in the upcoming year. What would happen to this surplus of money?

    I'm assuming they won't let you just keep the money..
    I would also assume that your cadet account balance will roll over year to year. What happens if you graduate with a positive balance in your cadet account? Does the USMA treasurer put the money back into the system for the pay of future cadets?

    I'm not sure how cadets do as far as saving money in their cadet accounts. Does it all get spent?

    Do any current or former cadets have experience with scholarships? It's not really important at the moment, but it's just something that crossed my mind as I'm applying for scholarships.

    If I gain appointment to the academy, I will probably not accept any large scholarships just because I know there is someone out there that would need it more than I would. I'm mainly wondering about the small $500-$1500 local scholarships that I wouldn't mind using toward my cadet expenses given the fact that I don't believe my family will be able to cover the upfront deposit should I get in.
     
  2. Jayceguy

    Jayceguy Jayceguy

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    I didn't even know there was an upfront deposit. How much is it? Sorry for the lack of answers to your question.

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  3. Stevewar2

    Stevewar2 Member

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    Money

    I think the upfront is $2,000. If there is financial difficulty, it can be deferred and come out of your pay. The way the Cadet Account worked last century was the following: Basically, each year a cadet would get X amount of money a month (it went up each year - what you get, not what you made). If your account was over the minimum, you could withdraw any excess at any time.
    Here is a site with projected costs:
    http://www.usma.edu/parents/SiteAssets/SitePages/Resources/EXPENSES CLASS 2016 memo.pdf
     
  4. HydroJim

    HydroJim Member

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    thanks for the great info Stevewar2!
     
  5. 845something

    845something Member

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    It's called topping off- usually they give Yuks the option and they'll pull the excess money from their cadet account to their personal checking account.
     

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