I am currently 29 y/o with a RE-1, completed 4 years in the navy, bachelors degree, got out in 2002 and don't mind if loose rank going back into reserves. What are the requirements and if its worth it. Any help

I would go ahead and talk to a recruiter. Since you have a degree you can talk to either enlisted and or Officer recruiters of course, but it seems that reserver officer spots are a tough get right now...but I get that idea mostly from reading the forums. If you want to go enlisted, since it has been such a long time, tell them you are interested in the DPEP program, if you would like to do something related to your degree, they will recommend your paygrade based on your resume. You won't have to go back to RTC or anything since you are prior. The biggest hurdles I have had have been medical waivers (my hearing isn't what it was), but it looks good right now for me to be signing back on as an IT1. Good Luck! HTH!