Sgt. Story

I took Chockstock's comments as simply saying that although it would be nice in this case if the public were to only hold the cadet accountable, not the academy, in reality, just as in the mid story, some people are going to jump on it. Not say "wow, the cadet was a thief", but "West Point cadets are thieves!" :eek: You saw how much press the West Point grad stealing Army funds got - no reason to think this would be any different. So I just thought he was saying "I WISH people would only blame the cadet, not spread the blame to the Academy as a whole". Maybe I interpreted it wrong, but I didn't take it at all as a chip on the shoulder.
 
If you can speak from your son's experience, would you recommend future cadets from taking the loan? I know making that decision is far off but I want to know about this from someone on the inside - I've heard something about this roughly 30K being given to third year cadets but from what I've read on this forum is completely different from what I've been told.

Once you graduate you will have a guaranteed job. You will not go into debt unless you are completely careless with your money and take more loans. Don't worry so much, unless you have a problem handling money. :thumb:

I plan on taking it and investing all of it. I already started saving towards my class ring and after graduation expenses now so that won't be an issue.
 
If you can speak from your son's experience, would you recommend future cadets from taking the loan? I know making that decision is far off but I want to know about this from someone on the inside - I've heard something about this roughly 30K being given to third year cadets but from what I've read on this forum is completely different from what I've been told.

I may not be completely right on my math here, but I'll give it a shot. It's the principle the counts. Even if the cadet doesn't need the money, he could still profit from it. Let me give a hypothetical model.

Assume a cadet invests 30k into a mutual fund with an average rate of return of 6 percent with fees being 2 percent. Net profit on the mutual fund is 4 percent. Subtract an additional 1.25 percent for interest on the 30k, and the cadet makes a total net profit of 2.75 percent off 30k...equal to $825. This is for one year, not compounded. So if the cadet were to mantain this over the course of several years, it could add up to a nice sum of cash. Some mutual funds provide an 8% return, other provide less...I stayed in the middle to be conservative. So it could be more, and it could be less. Just my 2 cents.
 
I took Chockstock's comments as simply saying that although it would be nice in this case if the public were to only hold the cadet accountable, not the academy, in reality, just as in the mid story, some people are going to jump on it. Not say "wow, the cadet was a thief", but "West Point cadets are thieves!" :eek: You saw how much press the West Point grad stealing Army funds got - no reason to think this would be any different. So I just thought he was saying "I WISH people would only blame the cadet, not spread the blame to the Academy as a whole". Maybe I interpreted it wrong, but I didn't take it at all as a chip on the shoulder.

You got the point :thumb: Just to clarify some more though, I was sort of venting because I really look up to service academies and cadets and it was just tough for me to know about these "incidents"

BTW
What does the expression "chip on the shoulder" mean?


Once you graduate you will have a guaranteed job. You will not go into debt unless you are completely careless with your money and take more loans. Don't worry so much, unless you have a problem handling money. :thumb:

I plan on taking it and investing all of it. I already started saving towards my class ring and after graduation expenses now so that won't be an issue.

That sounds more reassuring - thanks!

You're "saving towards" a class ring? :O sounds expensive
 
Just to be clear on what I meant when I said that this incident reflects poorly on the cadet and not the Academy. I was referring to the administration of the Academy not the Academy an entity. The administration at USNA is looking bad for how they have handled their 'FB star testing pos. on drug test but allowed to stay' situation. They seem to be catching the heat in addition to Curry. The Administration at USMA is not looking bad for a poorly made decision - it is the Sgt. Story. HE (allegedly:smile:) made a poor decision NOT the Supe, Dean, Comm. etc.

One question did occur to me. Is the cow loan only yours if you are a cadet? When Sgt. Story is found, let's assume that he will be separated ( I hope that's not a stretch to assume that) and therefore not a cadet anymore. Will he be expected to return the money then? OR is it still his to pay back under the terms agreed upon when he accepted it (to pay back over x years after graduation) ?
 
You're "saving towards" a class ring? :O sounds expensive

It's as expensive as you make it. It all depends on what material and stone you choose.

I figure I will be wearing it for my entire life (even longer than my wedding ring), so it will be worth the money. And its not like its a savings account just for the ring, I just thought I'd mention that's one of the things I plan on using the saved money for. Goldfarb1 gave a good scenario, the cow loan is a great deal.
 
My son went with the USAA loan. His main reason was customer service. He had a bad experience with the person giving the pitch for NavyFed. USAA has always gone out of their way to help him with whatever questions or problems he has had. He felt that paying a slightly higher rate was worth it. He also did not want to deal with having an account at another bank, he already has two accounts, one at our hometown credit union and one with USAA.

He took the loan with plans to spend some on a used vehicle (nothing fancy or flashy), put the max in an IRA, invest some, keep some for after graduation expenses, and a little for travel/fun money. He has already worked with the financial advisor on post (available for free to cadets) to budget his money.

I agree with JAM - I hope Sgt. Story is not AWOL because something bad has happened. I read a book about a cadet that went missing from West Point in 1950 and has never been located. The title is "Oblivion: The Mystery of West Point Cadet Richard Cox."

On a side note/off topic WAMom, for some reason thought your Cadet was a Yuk this year, since he is a Cow, did he work Beast last summer?
 
BTW
What does the expression "chip on the shoulder" mean?

My understanding is in the old days, someone would place a chip on their shoulder literally as a challenge to a fight. If the person they were challenging knocked it off, the fight would begin. More loosely means "looking for a fight" or "overly defensive" these days.
 
AF - I thought that $ was taken our of your pay to go towards paying for your ring.
 
It's a loan; not given. My son's choice to take or not take it out next year (he is a yuk) is his decision. Money and financial decisions are personal and cadets are "adults." They make this decision alone.
 
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