Pre Paid College Plan

Navychief07

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Feb 28, 2020
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Anyone know where I can get information on how USNA handles pre paid college plans. I’ve checked with the state of FL and I’ve emailed the admissions officer on my P2B‘s candidate page. I evidently need to set up the Academy as an out of state school and then choose “restricted” or “unrestricted“ process. With “restricted” the state will pay the entire amount in the first semester and with “unrestricted” (I might have them backwards) the state pays each semester. From what I have researched, the academy will put the amount in the candidates account to offset the loan and stuff. It’s valued at a little over $14k if it’s invoiced through the school or just $10k if not used. Thanks for any guidance or information you all can give. Go Navy!
 
Anyone know where I can get information on how USNA handles pre paid college plans. I’ve checked with the state of FL and I’ve emailed the admissions officer on my P2B‘s candidate page. I evidently need to set up the Academy as an out of state school and then choose “restricted” or “unrestricted“ process. With “restricted” the state will pay the entire amount in the first semester and with “unrestricted” (I might have them backwards) the state pays each semester. From what I have researched, the academy will put the amount in the candidates account to offset the loan and stuff. It’s valued at a little over $14k if it’s invoiced through the school or just $10k if not used. Thanks for any guidance or information you all can give. Go Navy!

Here’s the link to a recent annual USNA midshipman pay book. There is some info there about scholarships and other external funds.

It may take a call to the USNA Midshipman Disbursing Office (not USNA “big Disbursing” or comptroller,) but the office with the team that manages mid pay. I am not sure what their working schedule is right now.


From USNA Phone Directory:
Disbursing, Midshipmen 410-293-3297, 3301, 3303, 3307

If there is a Navy Chief behind the screen name, I’m ready to pay back all my “ask the Chief” moments over the years.
 
Last edited:

Some relevant info.

Stealth_81
 
Here’s the link to a recent annual USNA midshipman pay book. There is some info there about scholarships and other external funds.

It may take a call to the USNA Midshipman Disbursing Office (not USNA “big Disbursing” or comptroller,) but the office with the team that manages mid pay. I am not sure what their working schedule is right now.


From USNA Phone Directory:
Disbursing, Midshipmen 410-293-3297, 3301, 3303, 3307

If there is a Navy Chief behind the screen name, I’m ready to pay back all my “ask the Chief” moments over the years.
Ha, thanks and yes there is! Thanks for the info
 
Chief,
I'm in the same boat, and can't seem to get a straight answer. Please let me know if you have any better luck.
 
I spent a lot of time talking to the NABSD person at the booth on PPW. He told me that for the Class of 23, the $18,500 can be sent to NABSD and distributed to our DS when he graduates. He will fill out a form and get the money back. He also said not to put it in until he is a 1/C since it won't gain interest and our investment account will. Also, if they don't continue at USNA, the money will be forfeit. There was a letter in his PTR paperwork about where to send this. You can keep it in the prepaid college fund until senior year and that is the part that is tax free. The rest, I believe can be saved for graduate school or another sibling or grandchild.
 
Chief,
I'm in the same boat, and can't seem to get a straight answer. Please let me know if you have any better luck.

I had a good 30 minute conversation with the disbursing office this afternoon. They gave me a lot of good information but couldn’t really tell me how to handle the Florida Pre-paid college plan. Biggest barrier is the academy will not send any invoices out or bills to get reimbursed for. I will be talking to Florida next and see what they recommend. Maybe I can submit the charge book and loan details. However, one great word of wisdom they gave was I may not want to do anything until he starts his junior year. The main reason is the $8,500 ace loan he will get on day one, for all of his uniforms and equipment, is totally forgiven if he leaves prior to the start of his junior year. if I get his Florida pre-paid college fund sent now, it will automatically pay off the ace loan immediately. If he then decides to leave the academy, you cannot get a refund back, so there is risk involved in getting it paid early. Of course, none of us would ever plan for dropping out but is something to consider. I’ll update once I get a live person to talk to at the Florida pre paid college office. Seems to be a challenge getting to a person to talk.
 
Chief, sounds like you are in the same fog that I am, although you may be getting a little better information. Please let me/us know what you find out!
 
Did you ever resolve what to do with the Florida prepaid? I’m following as DD is now at USAFA and I was hoping to see what further information You found out. Thanks in advance!
 
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