Financial Aid

Where do I get Financial Aid for Maritime Schooling?
Financial Aid includes Federal Student Loans, Grants, Scholarships,?Veterans Administration GI- Bill (both Montgomery GI Bill and the?Post-911 GI Bill), Parent Loans,  Private Career Loans and even Credit Cards.

Federal Student Loans
Depending on the type of maritime training school you attend will determine the amount and type of financial aid will be available to you.

If you go to one of the seven state or federal Merchant Marine Academies federal student loans, grants and Parent loans will be available to you. These academies can offer you training not only a merchant marine license but also a college degree in one of many career fields.

Private Career Loans
Private Career Loans are credit-based  private loans that may be available through banks and national lenders. Co-signers are normally required with this type of loan. PLEASE – compare these types of loans so you don’t get ripped-off paying too much interest on these loans!

Parent Loans
Hopefully if you don’t qualify for private career loans your parents may be able to assist you. Through leveraging their equity in real property they may be able to assist you with financing.

Credit Cards
While this may seem unlikely, credit cards may be a viable option for short term, well defined training expenses. Most lenders do offer competitive rates and the ability to pay-off these loans in a timely manner.

Shop smart for credit cards, compare rates and DO NOT ABUSE them. They can be your ally or your enemy if you do not discipline yourself to live within your means.