Grants... Loans??

[navy's finest09]

whats the rule on having pell grants or loans at the Naval Academy or NAPS to cover all the extra fees and what not that we have to come out of pocket for? is that legal??

 

[LiveGold]

whats the rule on having pell grants or loans at the Naval Academy or NAPS to cover all the extra fees and what not that we have to come out of pocket for? is that legal??

You don't pay for anything out of pocket. I don't know what extra fees you are referring to.

 

[wilson73]

Cannot speak about NAPS, but every Mid at USNA must sign up for what is called the ACE loan, which has been about $8500 total in the past year or so. Every month, a portion of the Mid's pay is applied to pay off the loan. The loan covers things such as uniforms, books, computer (I think), haircuts, etc. Most Mids have paid off the loan by the time they are Firsties.

 

[navy's finest09]

Cannot speak about NAPS, but every Mid at USNA must sign up for what is called the ACE loan, which has been about $8500 total in the past year or so. Every month, a portion of the Mid's pay is applied to pay off the loan. The loan covers things such as uniforms, books, computer (I think), haircuts, etc. Most Mids have paid off the loan by the time they are Firsties.

so would it be possible to use a pell grant or something of that nature to pay off your ace loan early? just planning ahead because im currently active duty and just trying to figure out exactly how much i should have saved up before i report

 

[Just_A_Mom]

You can't use a pell grant at USNA. You don't have to have anything saved up when you report. You will be drawing pay each month which generally is enough to cover incidentals.

 

[NorthernCalMother]

Keep saving, Navy's Finest09! You'll want extra funds for transportation when you can get away, and you'll be happy to have money for opportunities that present themselves. Thank you for your service to date, and good luck @ USNA.