Deposit

djfrro · 05-07-2008, 08:38 PM

can you use federal financial aid for the $2900.00 Deposit?

wpmom2011 · 05-07-2008, 08:47 PM

No. As it was explained to my d and me, while going to WP is federally subsidized, you can't double dip. Basically, student financial aid comes from a different bucket and you can only draw from one bucket at a time.

djfrro · 05-07-2008, 08:52 PM

so are there any loans available for the deposite

mom3boys · 05-07-2008, 09:05 PM

The information says to contact the academy if the payment will present a financial hardship...you can call them and see what they say.

wpmom2011 · 05-07-2008, 09:13 PM

If you call, they will most likely tell you that the cadet will receive less in his/her pay over the 47 months to make up for the lack of the $2900 deposit.

For a while last Spring, we only had some of the deposit, but we were expecting a scholarship to arrive in Aug. and asked if we could then pay the balance of the deposit. She said no, that they will not go back and recalculate - it will just continue to be deducted out of her pay.

BAnglin08 · 05-08-2008, 09:19 AM

My problem is that I got a $6400 scholarship, but it pays 800 per semester for 8 semesters. So I'll have $1800 for the initial deposit ($1000 from another scholarship), but with have to pay the other $1100 somehow. I was going to call and ask if the deposit could be deferred since I have a for sure scholarship coming, but I guess they dont like that, huh?

mom3boys · 05-08-2008, 09:58 AM

no, sounds like that's not an option. However, spread out over 47 months, you will hardly notice a decrease in your pay.

wpmom2011 · 05-08-2008, 12:20 PM

You can call and ask, but I doubt that the policy has changed since last year.

Even though your pay will be reduced, you'll still be able to use the scholarship money for other things. My cadet has used hers to pay for all of her flights to come home for each of the holidays. She would charge her tickets and then turn in the amount for reimbursement.

I have heard that some time in the yuk (I think) year, the cadets are allowed to withdraw any extra monies out of their cadet accounts. After that happens, you'll have access to some of your scholarship money, and having a lesser amount of pay won't matter as much.

djfrro · 05-09-2008, 10:49 AM

My Son called WP yesterday and they told him that they would just take $50.00 per pay out to cover it.