I know this thread is a little old, but I thought I would add some real world experience. I was a Navy Nuke EM, got out and got a Physics degree.
I went into the Navy with the hopes of getting picked up to become an officer and have the Navy pay for my schooling. I decided to take the Navy Nuke route and then I would apply for officer. After making it through the program and getting to the fleet, I had seen enough of the "drawdown" and cutbacks of the military during the early 90's, that I decided that this wasn't the career for me. I decided to do Plan B and use my GI Bill to help pay for schooling. I did my six years, got out and worked full time as an electrician for 4 years and I saved $30K for future school expenses.
I then quit my full time job and worked part time, while going to a community college (saved lots of money going to a CC). As for trying to transfer Navy Nuke stuff for credits, I wouldn't count on them if you plan on going to a competitive school. I started off with zero credits and after 2 1/2 years, I transfered to the University of California with a major in Physics. I then spent 3 years getting my B.S. in Physics. With the money I saved while working as an electrician, working part time in school and federal grants, I was able to graduate debt free.
I had planned on getting my masters and possibly a doctorate, but my wife and I had our first child my senior year. After graduation, my wife and I didn't really look forward to being poor for another 3 years, until I got my doctorate (I was in my mid thirties when I graduated). So I started looking for a full time job that summer, to see what the job market might offer.
As stated before, most physics jobs go to people with doctorates. Luckily, I minored in Engineering and was ably to apply for some jobs in that field. After 4 months of resumes and interviews, the pay wasn't that much better than if I was a grad student. So I looked into power plant jobs and the rest is history. My second year on the job, I made $110K and I've made that or more for the last 5 years. This is way above what I would have made with my Physics doctorate and I didn't have to be a poor student for another three years.
I'm glad I got my degree though. Maybe one day I might get a science job, but until then I will use my background in physics and intergrate it into many of my hobbies. Many people don't realize the diversity and depth it takes to be a Physicist, it is hard work but very rewarding. Good luck!