Navy College Fund?

[Medayo]

I'm wondering if anyone here chose the 50k NCF option rather than the 12k enlistment bonus. I just don't know if I made the right choice. I picked the 12k bonus but I'm wondering if it was the right decision, but I am also unsure if the NCF is a good option either. I mean on one hand 12k is good cause well it's guaranteed cash... on the other hand college is expensive and I might need the NCF with the MGIB so I can complete my educational goals... but like many of my other goals... they constantly change so I don't know if I will be interested in attending school that long that I will need the NCF. My recruiter said I can change my mind until I leave for boot on April, then I will be stuck with whatever incentive pay I choose. So I'm seriously trying to figure out which is the best option. I just want other peoples opinions on this matter and which choice you guys think is best.

[Shaldyr]

Speaking as a recruiter, I'd say stick with the sign on bonus.  The MGIB has been increasing every three months ever since it was created nearly two decades ago.  10 years ago it was only $15k and now it's nearly $38k.  As long as you're in the Navy it will continue to increase to meet the increasing costs of tuition, however the Navy's College Program has not changed it's cap at all in a decade.  It was $50k in 1997 when I joined.  There are several "kicker" programs for the MGIB now that can also bring it up to be worth nearly $50k while you're in without even having to take the NCP at all.  Instead of merely paying the $100/month for your first 12 months, you can now opt to go for an additional 6 months, and raise your MGIB value somewhere in the mid 40k range.  I can't remember the exact amount off of the top of my head though.  I"ll check on it later and post the amount.

[taterhead]

Agree.  The MGIB pays up to 1030/month while on active duty, which is PLENTY for taking any sort of class you can think of, even my $500/hr graduate classes. 

Show me the money!

[visserjr]

Also, some food for thought. Once you finish the training pipeline, something to consider is getting your degree while on active duty. There is something called Tuition assistance, and many sailors utilize this to obtain at least a bachelor's degree. There are even a few nukes I've run into that have completed a masters while in the Navy. You can work on college at sea, but from my meager experience the largest headway is made on shore duty.

[taterhead]

Yes, TA is a good thing, but it is more limited these days.  Credit hour cost is capped as well as number of classes you can take per year.  TA is good to use when you can, but has become less user friendly.

[shammycat]

I would definitely stick with the sign on bonus.  I went for the College fund and it is about as easy to get as the Tuition Assistance.  Actually TA is easier to get, even with the cap on hours and cost.  If you are after a nuke engineering degree most of you navy training will convert to college credits, especially with colleges that have agreements with the Navy.  So I think you should take the cash.