The 529 Plan!
What the heck is The 529 Plan? No it’s not a military plan to attack North Korea. The 529 Plan is a college savings plan. It allows the investor(s) to save up to $250,000.00 for books, equipment, room & board, supplies and of course tuition fees. By investing in Mutual Funds, the investor(s) can save up to $250,000.00 and get this, all the earnings are TAX FREE! Each state may have other incentives when investing in The 529 Plan. To get the scoop on The 529 Plan, go to https://www.savingforcollege.com
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Senior Reserve Officer Training Corps (ROTC)!
What’s better than The 529 Plan? I know what I’m talking about here. My last 03-years in the Army, I volunteered for a Senior ROTC assignment at Mercer University located in Macon, GA. Here it is blunt and to the point.
Students (cadets) sign-up for Senior ROTC (College or University). Their 04-years of college or longer (engineers) are all paid in full by the US Government. All books, all equipment, all room & board, all supplies and of course tuition fees are paid for by the US Government. Plus, each month, each cadet is given a small monthly check for miscellaneous expenses.
What’s the catch? The student / cadet not only must pass their regular college courses, they also take Military Science (MS) classes and are involved in field training exercises on the weekends. In their junior year, the MS-IIIs spend their summer at Summer Camp (Fort Bragg, NC) being evaluated and working with other cadets across the country.
At the end of their Senior Year (MS-IV), each cadet is officially commissioned a 2nd Lieutenant in the US Army and will immediately be sent to their 1st assignment. Each Officer is obligated to serve 06-years in the US Army or any of the other military service with respect to their SROTC Program.
By the way, as I write this (14 September 2018), a 2nd Lieutenant’s monthly base pay (before taxes) is $3,034.80. Not bad for starting out in the US military. And that doesn’t include other possible monthly pays if they qualify. Other monthly pays like:
- Overseas Pay
- Jump Pay
- Language Pay
- Hazardous Duty Pay
- TDY (Per Diem for Temporary Duty Assignment)
- Separate Rations
- Bachelor Officers’ Quarters
- Cost of Living Allowance
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