Career Starter Loan

[BPeterson93]

Who is eligible for Career Starter Loans through USAA and NFCU?

Could I apply for the Career Starter Loan after taking my Oath, before going into OCS? Knowing that there are a lot of expenses to be had when purchasing uniforms, traveling to and from, taking care of student loans, etc.

Wanted to know if it was something that anybody here had taken advantage of?

 

[haimehhh]

Google fu produced:

http://militarymoneymanual.com/is-the-usaa-career-starter-loan-pre-commissioning-a-good-deal/

"The USAA Career Starter loan program is offered to cadets and midshipmen commissioning through Army, Air Force, and Navy/Marines ROTC (Reserve Officer Training Corps) or through OCS/OTS (Officer Candidate/Training School). The terms and conditions change every year, so make sure you call or check with USAA for the most current information.​

In [Read 'as of'] 2012, you may apply for the loan within the 12 months prior to commissioning if you are a ROTC cadet/midshipmen, or 4 months prior if you are an OTS/OCS attendee. If you already commissioned, you have up to a year from your commissioning date to apply for the loan, which is subject to credit approval."​

Maybe this has changed since.

 

[BPeterson93]

Google fu produced:

http://militarymoneymanual.com/is-the-usaa-career-starter-loan-pre-commissioning-a-good-deal/

"The USAA Career Starter loan program is offered to cadets and midshipmen commissioning through Army, Air Force, and Navy/Marines ROTC (Reserve Officer Training Corps) or through OCS/OTS (Officer Candidate/Training School). The terms and conditions change every year, so make sure you call or check with USAA for the most current information.​

In [Read 'as of'] 2012, you may apply for the loan within the 12 months prior to commissioning if you are a ROTC cadet/midshipmen, or 4 months prior if you are an OTS/OCS attendee. If you already commissioned, you have up to a year from your commissioning date to apply for the loan, which is subject to credit approval."​

Maybe this has changed since.

Thanks! I read through the article and it tackled exactly what I was hoping to look for, a means to cover my student loans.

 

[HH-60H]

Thanks! I read through the article and it tackled exactly what I was hoping to look for, a means to cover my student loans.

You might also consider contacting USAA and NFCU.

 

[BPeterson93]

You might also consider contacting USAA and NFCU.

Of course, that was always a step in the process. I was curious to see if anyone had taken advantage of it on these forums to get a direct opinion of it.

Thanks for the help.

 

[agriz33]

Kind of bumping this thread. I was just wondering if anyone had any luck with the NFCU starter loan ( <$32,000 at 1.25%) going through OCS. They advertise that it is only available to academy students but this seems unnecessarily limited. I don't live near a branch but maybe someone was able to take advantage of this loan outside of a service academy.

 

[FormerRecruitingGuru]

Kind of bumping this thread. I was just wondering if anyone had any luck with the NFCU starter loan ( <$32,000 at 1.25%) going through OCS. They advertise that it is only available to academy students but this seems unnecessarily limited. I don't live near a branch but maybe someone was able to take advantage of this loan outside of a service academy.

There’s a similar thread where someone took out a similar USAA loan.

 

[ichneumonidae]

Kind of bumping this thread. I was just wondering if anyone had any luck with the NFCU starter loan ( <$32,000 at 1.25%) going through OCS. They advertise that it is only available to academy students but this seems unnecessarily limited. I don't live near a branch but maybe someone was able to take advantage of this loan outside of a service academy.

Here's the thread as @RUFiO181 mentioned. I applied for and received the USAA CSL and commissioned through OCS. Feel free to get in touch if you have any q's about that. https://www.airwarriors.com/community/index.php?threads/commissioning-loans.13196/page-7#post-897874

 

[GlassBanger]

I just talked to them (USAA) the other day, and she told me they won't grant it to me with only a FINSEL as proof, but required actual BUPERS orders. Which is head-scratching because you don't get BUPERS until you get a CAC (according to my recruiter)... which is at OCS. Which I thought the point of the CSL was to help you get your career started... for example, buying the stuff you need for OCS to begin with lol

 

[Python]

I just talked to them (USAA) the other day, and she told me they won't grant it to me with only a FINSEL as proof, but required actual BUPERS orders. Which is head-scratching because you don't get BUPERS until you get a CAC (according to my recruiter)... which is at OCS. Which I thought the point of the CSL was to help you get your career started... for example, buying the stuff you need for OCS to begin with lol

I think the point is for when you start your career as an Ensign.

 

[GlassBanger]

I see it that way, too. But some of us do need a little help to buy all of the stuff needed for OCS. I personally live very meager paycheck to very meager paycheck in a high cost of living area so I have not been able to save enough so far. Of course, I'm sure someone will find a way to twist that into irresponsibility and preparedness of being an Officer. But I'm figuring it out as best I can, I had only hoped for the CSL to help me out a bit.

 

[SynixMan]

I see it that way, too. But some of us do need a little help to buy all of the stuff needed for OCS. I personally live very meager paycheck to very meager paycheck in a high cost of living area so I have not been able to save enough so far. Of course, I'm sure someone will find a way to twist that into irresponsibility and preparedness of being an Officer. But I'm figuring it out as best I can, I had only hoped for the CSL to help me out a bit.

A lot of people get the Military Star card at 0% for a year to cover the uniform buy. I know I did. Then paid it off a few weeks after commissioning. I feel for you, but you aren’t blazing some new trail here.

 

[GlassBanger]

A lot of people get the Military Star card at 0% for a year to cover the uniform buy. I know I did. Then paid it off a few weeks after commissioning. I feel for you, but you aren’t blazing some new trail here.

That's what I was planning on doing, since the CSL is not an option. It has that 10% off or so on your first purchase too, if I remember correctly. Though for the record, I wasn't referring specifically to uniforms; I meant more along the lines of sports bras, underwear, boot socks, swimsuit, etc. The "OCS Starter Pack - Female" kind of thing.

 

[RedFive]

Soooo...what are the chances I can get the career starter loan (again) when I go to the regionals?? ¯\_(ツ)_/¯

 

[Matty Morocco]

I just talked to them (USAA) the other day, and she told me they won't grant it to me with only a FINSEL as proof, but required actual BUPERS orders. Which is head-scratching because you don't get BUPERS until you get a CAC (according to my recruiter)... which is at OCS. Which I thought the point of the CSL was to help you get your career started... for example, buying the stuff you need for OCS to begin with lol

Just from personal experience so far, I have a set of orders to OCS from BUPERS, which I received from the NRD detailer after my FINSEL came in. I don't have a CAC yet.