IRR it is !!!

[scoolbubba]

Enjoy it man. Time off is awesome.

 

[cfam]

And to those lucky enough to get this deal, highly recommend backpacking Europe if you can swing it. I only got a few days there, but tons of stuff and trouble to get into.

Truth..I took my graduation leave and hopped an AMC flight from Dover AFB to Rota. Headed up the Spanish coast, then hopped Ryanair to Germany, and ended up in Amsterdam. Great time, and not incredibly expensive, especially if you buy a unlimited euro railpass online before you leave the states. Probably the last big block of time you'll have off, may as well see some cool places and have a ton of fun.

 

[HAL Pilot]

... and ended up in Amsterdam....

Let the little guy lead huh? :icon_zbee

 

[NTXRockr]

Just a heads-up, USAA has been making frequent changes regarding their career-starter loan.

Information on their website is conflicting with what is actually true.

The latest info I've heard /directly/ from USAA is that the loan may now be taken out 12 months prior to commissioning, instead of 18, with repayments beginning at 3, with a possible waiver to extend it to 5-6.

When did you inquire about it? I asked back in July and they told me the pre-commissioning loan can be taken out as far as 3 months before going to OCS...at the time I was graduating in December and going to OCS in January, so they said the earliest I could apply would've been in October.

They may have changed the limits since then, so I'll give them a call about it again even though I don't graduate until May now and still don't have my new OCS date yet. If it is 12 months that's great. Do you have a phone number for the specific dept or just use the CSR number and get transferred?

 

[EM1]

You're in seperate commissioning programs. If you read the fine print, midshipmen can take out the loans really far out. Those on AD and in commissioning programs (BDCP, NUPOC, etc) cant take out the loan until only a few months before they graduate.

 

[NTXRockr]

That's what I figured it was, although they have changed their loan conditions quite a bit lately so you never know what the current rule is. Everyone used to be allowed to take it out up to 12 months ahead of time and had a 1.99% interest rate, then it was 6 months and 2.99% and now I believe it's 3 months and 4.99% but have heard it was going up to 7.99%. Guess I'll find out in a couple of months what it is then.

 

[helolumpy]

The Navy has never put kids from NROTC straight into IRR before. It's unprecedented. It sucks. Unfortunately, there's jack shit anyone can do about it.

Like A4s said, things could be worse. It's only 4 months, and it completely blows that there are no pay or "bennies." Yes, you'll be sitting around with your thumb up your ass. Thankfully, they gave you a date that you'll start getting paid again. My advice is to find a part-time job, get in shape, and chase tail. God knows there isn't any sane trim in Pcola.

Keep your chin up like a Naval Officer should, bite that big shit sandwich, and ride out the four months. It'll be worth it in the end.

Good luck.

Don't ever say the Navy has "never" done something. I was commissioned in 1991 (post Desert Storm draw-down) and we were 'encouraged' to select IRR for about 6 months since we have a year to wait to start API.
Some of us elected to take the encouraged IRR, two that I know were told that their orders would be cut at graduation but had a gap of 5 months until they reported for stash duty at NASC.

 

[MIDNJAC]

You're in seperate commissioning programs. If you read the fine print, midshipmen can take out the loans really far out. Those on AD and in commissioning programs (BDCP, NUPOC, etc) cant take out the loan until only a few months before they graduate.

Unless it has changed, it used to be 18 months prior for middies (I took mine out at that point)

 

[Yardstick]

took mine out 18 months prior in November 09, 4.99% rate at the time. i think its less now..

 

[Stick]

The word around school here is all MIDN could possibly be placed on IRR after commissioning. It is not community specific. STA-21 guys are safe and will remain on AD. Enjoy any and all time off offered and make the most of it.

 

[Wudgles]

Don't ever say the Navy has "never" done something. I was commissioned in 1991 (post Desert Storm draw-down) and we were 'encouraged' to select IRR for about 6 months since we have a year to wait to start API.
Some of us elected to take the encouraged IRR, two that I know were told that their orders would be cut at graduation but had a gap of 5 months until they reported for stash duty at NASC.

Touche', Lumpy. However, it sounds like you had an "option" to exercise with regards to IRR. Doesn't sound like these guys get the choice. Slight difference. Stinks either way, and I'll be sure to curb my blanket statements.

 

[helolumpy]

Touche', Lumpy. However, it sounds like you had an "option" to exercise with regards to IRR. Doesn't sound like these guys get the choice. Slight difference. Stinks either way, and I'll be sure to curb my blanket statements.

As I said, I "choose" the IRR route. Two found out about IRR when their orders showed up at our unit with a gap of 5 months.

But, I will say that for the Class of 91 (smallest ROTC graduation class since Midway) that we were the exception to the norm. Most of my AI buds did not have to deal with this issue, but some of us had to find out the hard way what the IRR was....

 

[Creature]

As I stated before, I am being placed on IRR out of ROTC in December until April 22. Another MIDN here that is graduating with me is going sub nukes and is reporting to dive school in February is NOT GOING on IRR.

 

[JhwK08]

For midshipmen the loan is 12 months. Not sure about the interest rate.

 

[Th3HumbleMuffin]

For me, as a middie, it was 12 months prior at 4.99%. I'll have to pay it back beginning 3 months after commissioning (I'll have to see about getting it deferred due to IRR, but I can't do that until I know how long I'll be on it).

Thanks for the advice about what to do with my time off, everyone. Bottom line is I'll find a way to make some money (or borrow some), and take that time to go to the gym, chase women, travel, drink, and golf.