Actually stipend is being raised for freshmen and sophomores...rumor is stipend will be going to a flat $425 a month for all contracted Cadets. As someone who got paid $100 a month my last two years of school (a few years ago)Has anyone else heard anything about stipends being lowered this year? My daughter, a a senior, just told me her monthly stipend will be $425 this year. It was $450 last year and we thought it would be $500 this year. Thanks.
Always smarter to have an outstanding personal loan (or any other kind of loan, i.e. mortgage, auto, credit card, etc.) than having an outstanding student loan. Always. Under any circumstances.There are some outfits (USAA is one) which will loan an about to be commissioned officer up to $25,000 at pretty low interest rates. It can help them get started in life. DS used it to pay off student loans (maybe smart, maybe not), opened a Roth IRA, and socked a lot into savings to have on hand as needed. He's not missing the payback money since he went into with only the stipend as income. I think folks in one of the academies can borrow even more. Many folks use it to buy their first car.
For AROTC the stipend starts the day the contract is signed and processed, if they contract say two weeks after school started they will not receive any stipend for those first two weeks. If they contract in the middle of the pay period then their first payment will include the current stipend plus the portion of the previous pay period from the date they contracted.Realize that stipends are paid in arrears and pro-rated.