Scholarships/529 PlansRegarding the use of Scholarships/529 Plans: The Naval Academy can accept UP TO $17,500.00 in financial support. Funds will first be applied to any balance remaining on the original $8,500 ACE Loan. The rest of the submitted funds will remain in the member’s “Held Pay” to fund any future clothing/equipment issue expenses accrued during a midshipman’s tenure. Any limitations on the use of scholarship or 529 monies should be verified with the awarding organization.
USNA cannot accept money intended to pay for tuition and/or lodging since those expenses do not exist. This money is for books, uniforms, equipment, or other mandatory education expenses. Authorized funds include personal checks, public and private scholarships, and college savings accounts such as state 529 plans.
Checks should be made payable to “USNA” and should include:
- Midshipman’s name
- Alpha number
- Letter/email stating the intended application (i.e. pay off or reimburse ACE Loan balance, pay for uniforms, etc.)
United States Naval AcademyPlease note, this will not increase the midshipmen’s monthly pay that they receive in their personal bank account. Their end-of-month pay amounts released to their bank accounts are set. All extra pay which would've gone towards the ACE loan will sit in his/her held pay until their Sophomore year when he/she will be eligible to withdraw from it. If the midshipmen desire to supplement their end-of-month pay with Held Pay, they may contact the Disbursing Office directly.
Midshipmen Disbursing Office
101 Buchanan Road Room 4002
Annapolis, MD 21402
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