Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-14-2010, 04:04 PM   #21
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Quote:
Originally Posted by SecondCor521 View Post
I had a AFROTC scholarship in my first year and they are excellent. I'm not sure when they pay the university, but I'm 99.9% sure you won't have any problems there...what will likely happen is that the ROTC folks will take care of paying their part and the college will simply bill you for the rest. That's how it worked for me, anyway.
I think it'll work that way too, but I'm wary of applying logic & common sense to a military financial question.

Notre Dame's NROTC website used to have a detailed, lengthy, excellent FAQ. I remember reading on it a few months ago that NROTC would pay tuition in October (coincidentally after the start of the new FY) when the system had "seen" the presence of the mid for over 30 days with no dropouts and no medical problems (and no urinalysis failures). I think I remember ND's website mentioning that ND would bill parents for a couple months' tuition which would be reimbursed to the student's campus account after NROTC paid ND. All of that might or might not be relevant to the way Rice does business.

At least that's what I think I remember reading, and I can believe that the Navy would do things that way, but now the ND FAQ page has been replaced by a link to NROTC's website. Someone at Navy Education & Training Command felt that ND's website didn't conform to policy, or some rule changed, and the reference is gone. Anyway I guess we'll find out in June or July when Rice tells us how much money they want.

Quote:
Originally Posted by SecondCor521 View Post
It's probably too late, but the Idaho 529 plan (www.idsaves.org) has a stable value type fund and is run by Vanguard.
This is going to be a hit & run. When TreasuryDirect has the bonds available in our electronic account (in a couple more weeks) then each month we're going to redeem the ones that have just paid their semi-annual interest. From March through June we'll probably have just enough cashed in and rolled over to a 529 to pay the $11K tuition. At that point we'd get a bill from Rice and empty the 529 account to pay the bill, or perhaps sign up for billpay and do it wit a credit card. But we're not planning to keep any more in the 529 than it takes to pay the bills as they come due.

So I'd hate to run afoul of a state or a fund manager's redemption policies...
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-17-2010, 01:06 PM   #22
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
This is going better than I expected, especially after sorting through the hassles of bank redemptions and then doing a couple hours of data entry for electronic conversion.

After entering the conversion data on TreasuryDirect's website, we mailed in the paper bonds. Conversion was advertised as three weeks but actually only took 10 days. The Savings Bond Wizard software can sort the list by the date of their next interest payment, so yesterday we picked out the Feb/Aug bonds that accrued a payment on the 1st. A few clicks on the TD website and the money should be in our checking account tomorrow, where we'll send it to Fidelity with the 529 account application. We'll redeem more bonds after their semi-annual interest accrues in March, April, May, and June. By that time we should have redeemed enough for the first year's room/board and we should be getting the bill from the college.

The worst caveat I can find about this system comes from Boglehead Mel Lindauer a couple years ago. Unlike paper bonds, at that time TD couldn't promise to replace electronic bonds if the TD server was hacked or the account was otherwise compromised. I doubt that'll be an issue over the next few months.
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
College tour questions: Notre Dame, Carnegie-Mellon, & RPI Nords Other topics 77 07-26-2007 01:08 AM
More dumb questions from another newbie that can't spell worth $***! VaCollector FIRE and Money 24 05-16-2007 06:06 PM
Trying to help my mid-60's parents with their retirement $$$, have questions glock35ipsc FIRE and Money 22 01-25-2007 08:59 PM
Education level & occupation of ER Toejam Other topics 47 03-04-2006 07:58 AM
Dumb tax questions cute fuzzy bunny FIRE and Money 10 05-11-2005 12:47 PM

 

 
All times are GMT -6. The time now is 02:58 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.