MIL Tuition reimbursement

Discussion in 'On Topic' started by VladTemplar, Apr 23, 2007.

  1. VladTemplar

    VladTemplar New Member

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    Do any of the branches offer any sort of tuition reimbursement for people who have gone to OCS as a college graduate?

    Edit: Found the answer ($65,000)

    Edit 2: Is it possible, on an OC-1 pay scale, to still pay off loans and live? With $65,000 paid off instantaneously I'd still owe around $55,000 in student loans (private university).
     
  2. TRN

    TRN Well-Known Member

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  3. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    It is possible at O1 pay to do anything, depending on how you like to live. I know a frugal Lt who lived in some crappy apartments and still drives the car he had in highschool. That guy has a ton of money. I think he is saving up for a house.
     
  4. VladTemplar

    VladTemplar New Member

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    I guess what I'm asking is, is it possible to absolutely minimize everything. I'd want to go into intelligence, I've got the GPA and brains to do it; but from what I've been reading it seems you only do a 6 month deployment then you're stationed somewhere. The deployment would mean no need to pay for housing or food, but once I'm stationed, don't I have to pay for all of that?

    Is there any way to make sure I could be in a position to just save every dime I possibly could? Unless the promotions looked highly likely I'd only do this for the required 4 active years (though I'd probably be called up from reserve after that). Then I'm hoping I could go on to get my PhD and teach. I just don't know if I will be able to attend grad school with these loans looming overhead.
     
  5. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    Yes, you can be as frugal as you like. They will compensate you for housing off base and you can live well below your means as a single Lt. For example, you would get base pay + BAH + BAS. You could take your BAH and find an apartment that is really cheap or go in half with another Lt. Bring your lunches to work and drink beer on base. You could have those loans paid off very quickly.
     
  6. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    Also remember that as an Lt, you will be expected to attend all of the social functions on base.
     
  7. VladTemplar

    VladTemplar New Member

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    What exactly does that mean? If I don't join the military I'd be the first male in a LONG time in my family's history to not do it, but they were all enlisted. I really don't know what to expect whatsoever from being an officer.

    What exactly do you mean by social functions?
     
  8. Drunk Bastard Audio

    Drunk Bastard Audio New Member

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    dining in's, dining out's, retirement/promotion ceremonies, change of commands, blah blah blah...
     
  9. VladTemplar

    VladTemplar New Member

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    How the hell am I supposed to afford being required to eat out all the time on an entry level salary?
     
  10. mikdavi84

    mikdavi84 OT Supporter

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    [​IMG]
     
  11. VladTemplar

    VladTemplar New Member

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    I could care less about going out, I don't have a single problem staying home and saving money. Hell, I'm the kind of person that would take paid vacation and stay at home spending nothing more than usual.

    I just wonder what he means by all those social activities. If I'm required to be out doing all that stuff it sounds like it'd cost a lot of money.
     
  12. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    Trust me, you will have enough money, you wont know what to do with it if you don't go blow it on a new car.
     
  13. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    it isnt every weekend. it may be once or twice a quarter.
     
  14. VladTemplar

    VladTemplar New Member

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    So, based on your collective military experiences, would you think it adviseable to go to OCS to help me pay off my college loans? I don't think Intelligence would be a field where advancement would come easily or quickly, so I don't know how good it would be as a lifetime career choice, but then again I don't know much about this.

    I do expect that once I finished OCS I'd pretty much be despised at whatever deployment I was given. I'm pretty sure every enlisted person despises Ensigns with a passion.
     
  15. mikdavi84

    mikdavi84 OT Supporter

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    you didn't laugh at the funny cartoon, so go fuck yourself.
     
  16. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    I live off of e-5 pay, have a car payment, and can invest over $500 a month. ps. I have a wife and two kids, none of which have a job.

    O1 pay is more than my base, BAH, and BAS combined.
     
  17. VladTemplar

    VladTemplar New Member

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    I'm just looking at the finances here, I don't live a lavish life. Just because I go to a private uni doesn't mean I'm rolling in dough, hell my loans cover just enough to pay for tution, books, a place to live, and food.

    I just like to have a clear idea of my finances, apparently buying stuff on base and whatnot does save a lot of money. All I'm wanting to do is get a clear picture. Wouldn't you want that before making a big decision?

    I would laugh at the caption, but I really don't know enough about military life to get the joke. I'm guessing its cracking abotu officers making more than enlisted, but officers always bitching about not making enough. Like I said, I don't know enough about military discounts on various things to really get the joke.

    I just came here to get some advice, that's all. I didn't mean to offend anyone. I just looked at the per month pay of an O-1 and when it came out to less than $30k (which is more than $15k less than what my sister made out of college) I nearly croaked. But then again I assume that doesn't factor in all these little things you guys are talking about and I have no idea how much those little things add up to.

    Really, I'm just asking for information.
     
  18. Fericide

    Fericide New Member

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    2 years to make O-2 another 2 years to make O-3
     
  19. VladTemplar

    VladTemplar New Member

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    Is it a general rule for 2yrs per grade in junior level and from there on it just varies depending on performance? Obviously I'd imagine the promotions from therein are pretty damned hard to come by.
     
  20. Fericide

    Fericide New Member

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    those numbers are AF, I'm not positive but I know someone army who got o-2 in1.5 years and o-3 in 3 years
    after that it is competative
     
  21. Drunk Bastard Audio

    Drunk Bastard Audio New Member

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    it fucking annoys me to hear the non-prior 2LT's cry about their pay and how they can barely afford to get by each month....




    I remind them to look at the lower enlisted pay scale then see if they feel the need to cry after that.
     
  22. Drunk Bastard Audio

    Drunk Bastard Audio New Member

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    oh and Army, it's 18 months 2LT to 1LT...18 more months to CPT... :) and as for being competitive for Major...recent year groups are gonna see a pretty high promotion rate due to the rapid flood of CPT's getting out after their 3-5 year hitches.
     
  23. Nixstress

    Nixstress Look at me! I am edgy and stabby! OT Supporter

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    Don't stress... what you are looking to do is completely feasible. You seem like the type of person that needs to plan things out and make an informed decision, which is easily done.

    First off you know you will still owe $55,000 in school loans but what you need to find out is what your monthly payback is going to be. Next you need to know when your repayments begin. Typically they start 6 months after you graduate.
     
  24. Nixstress

    Nixstress Look at me! I am edgy and stabby! OT Supporter

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    Question... are you currently in school and working and if so do you file taxes on your own or are you considered a dependent on your parents taxes? The reason why I am asking is because with the amount you pay each year for college tuition, if you work and are independent then you should be getting pretty large tax returns.

    The reason why I want to mention this to you is you also need to keep in mind that the interest on your student loans is deductible and when you are a 2LT you could get back anywhere from 2,000 to 4,000 or higher back depending on how you do your taxes.
     
  25. VladTemplar

    VladTemplar New Member

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    I'm listed as a dependent, otherwise I would have had to sign the loans myself and the interest rate would be double what it is. I technically have zero income, I've been travling a lot in college on study abroad trips. Sadly enough, it's a little cheaper for me to be in a another country going around seeing things than it is to live near campus and whatnot.

    But to answer your question shortly, no, I have no income so I don't file taxes. However, I guess you have a point on those tax returns. I'll need to figure out the finances on the remaining money and whatnot before i signed up.

    On the subject of BAH and BAS, how much are those typically a month? Is it common for a Lt to get a shared apartment with another Lt around the base? How much cheaper is it to compared to normal grocery stores when you buy on base?r

    I know that enlisted people get by with a lot less money than officers, I used to hear about that all the time when I was in a car club in high school that had a lot of Air Force enlisted in it. But as Nixstress said, I like to have a clear picture and things planned out before I make a decision, especially a decision that places me at the whim of Uncle Sam for the next 8 years of my life.
     

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