ASP pay advance??

[PathMd]

Finishing up civilian residency here and starting at Eglin AFB in early July. Seems like I heard a rumor that you get ASP (15K) in advance right when you start? Is this true?

Would be helpful in getting settled in a house.

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[teacherman84]

No clue about your question but I live 10 min from Eglin but if you have any questions about real estate, renting, or just info about the area let me know

 

[NavyFP]

I have never heard of getting an advance on ASP. Often members will request an advance of pay prior to PCS, but when IRR members initially enter active duty they don't have a pay record so they can't get an advance.

Long and short. No, you won't get it early.

 

[pgg]

Finishing up civilian residency here and starting at Eglin AFB in early July. Seems like I heard a rumor that you get ASP (15K) in advance right when you start? Is this true?

Would be helpful in getting settled in a house.

You'll be eligible for ASP July 1st. You can fill out the paperwork in advance, but you won't get it early.

You can also get up to 3 months of advance pay by filling out some forms and obtaining your CO's signature. This is then repaid by deduction from your pay each month over a term you specify (<1 year max I think). It's base pay only, but 3 x O3<2 base pay is still >$10K.

You're probably also eligible for a dislocation allowance which is around $2600 for an O3. This is payable in advance and does not need to be repaid.


If you're just now coming on active duty, you're eligible for the USAA career assistance loan. I don't know what the terms are currently, but it used to be that new officers could get up to $25,000 at some ridiculous rate like 2%. There are threads in this forum about that, and I know some people have been able to get that loan even if they were commissioned years ago but have been on civilian residency deferments until they applied.

Navy Mutual Aid Association used to have a similar program. I don't know if they still do, and I don't think you have to be Navy to use their services.

 

[PathMd]

Thanks for the info everyone. I am definitely a little "wet behind the ears"

@teacherman84: yeah, I might like to pick your brain about the area. Thanks for the offer. I will send you a PM.

@NavyFP - I kind of thought it sounded a little too good to be true!

@pgg - I will look into eligibility for a dislocation allowance. The USAA career assistance loan seems like a good option to explore as well. I have not seen these on their website, but perhaps I should give them a call. They do have personal loans, but as with most personal loans, the interest rate is kind of high. I just need 8-10K to help out with a down payment and perhaps some of the closing costs/lender fees should we decide to buy. Bank of America used to offer "zero down" mortgages, but they have quit this due to the current market conditions.

 

[NavyFP]

You'll be eligible for ASP July 1st. You can fill out the paperwork in advance, but you won't get it early.

You can also get up to 3 months of advance pay by filling out some forms and obtaining your CO's signature. This is then repaid by deduction from your pay each month over a term you specify (<1 year max I think). It's base pay only, but 3 x O3<2 base pay is still >$10K.

You're probably also eligible for a dislocation allowance which is around $2600 for an O3. This is payable in advance and does not need to be repaid.

Again, as I was alluding to, you can't get an advance until you are actually checked in on active duty. Yes, you get DLA, but after you report.