Scholarships from private company

[run4fun75]

My daughter has accepted an appointment (2022) but has scholarship opportunities from a private company. Will the NA accept scholarship monies to go towards books, etc instead of a ACE loan?

 

[rugbyplayer33]

I highly doubt that they will accept it.

 

[run4fun75]

Thanks for the reply. I didn’t think so but wanted confirmation.

 

[Maplerock]

My daughter has accepted an appointment (2022) but has scholarship opportunities from a private company. Will the NA accept scholarship monies to go towards books, etc instead of a ACE loan?

Can you explain scholarship monies from a private company? How much? Cash or deposits paid to the kid or the institution?

 

[FMHS-79]

Check the Midshipmen Stipend Budget Book located at https://www.usna.edu/Student-Life/General-Information-for-Midshipmen.php. The Disbursing Office should be your contact for specifics but believe that the scholarship funds will need to be non-restricted (e.g. used for a specific purpose, require a specific GPA, or require repayment if student disenrolls).

 

[kfnj]

I know with multiple Eagle Scout scholarships, they will "rescind" the scholarship if the winner decides on a service academy as they know the money is no longer necessary and could go to another candidate without a full SA "scholarship".

 

[DesertCaliMom]

It depends on the type of scholarship and the restrictions issued by the company. The budget book has specifics.

The ACE loan will happen regardless, the mid will just receive a larger sum when they receive a full check according to the budget book - the money is held.

DS applied for many cash scholarships which issue checks directly to a student - that way he can use the cash for flights and vacations. For his Plan B he also applied to big ticket scholarships like the Eagle and Ronald Reagan, but he asks when awarded if they'd issue to an academy if they don't say up front.

 

[run4fun75]

Thanks for the information

 

[NavyDadDD2021]

You can keep your scholarship. My daughter is a Plebe and she returned a scholarship only to find out later (when all the paperwork arrived) that you can use that to offset costs associated with the Academy. If necessary, the Academy allows you to deposit the funds. Keep it.

 

[UHBlackhawk]

This is from the USMA treasurer memo, but I'm sure USNA follows the same guidelines:
"Treasurer can accept scholarships for a cadet to satisfy the requirement of the $2,000 Initial Deposit. Treasurer cannot accept a scholarship from any agency that states the scholarship is to be used for tuition and/or room and board for there is no charge for these items at the United States Military Academy."
Basically any scholarship money that is not required to be used for tuition/room/board is "used first" for expenses before the cadet/midshipmen's pay. Scholarship money that must be used for tuition/room/board may not be used.

 

[Maplerock]

Thanks for the information

You're welcome.