Undergraduate Student

Undergraduate Aid Opportunities

Aid is dispersed in two payments – one each for the fall and spring semester.

 

Your FAFSA-based aid package may include:

Federal Loans

Direct Subsidized Loans

  • Based on financial need.

  • Interest-free while you are a full- or part time student. After that, interest is currently 1.073 percent.

Direct Unsubsidized Loans

  • Not based on need.

  • Interest, at a rate of 1.073 percent, begins to accrue when Maritime receives the funds.

  • We recommend you make interest payments while in school.

Payments begin six months after you graduate or drop below half-time enrollment. The standard repayment period for student loans is 10 years, though extensions may be available to qualified borrowers.

 

Federal Work Study

This program lets you earn money to help with your expenses while in college.

You must be taking at least six credits to qualify. Funding is based on your financial need, as determined by the FAFSA.

It is your responsibility to find a work-study position. If you have not found one by Oct. 15, you will lose the funds.

 

Grant Options

New York State Tuition Assistance Program

  • Available for full-time students

  • Link to apply

 

New York State Aid for Part -Time Study

  • Available for students taking fewer than 12 credits

  • Fall semester application deadline: Oct. 1

  • Spring semester application deadline: Jan. 30

  • Link to apply

If you are not a New York resident, check your state government or higher education agency’s website to see if there are similar opportunities for you.

 

Scholarships

In addition to federal and state scholarships, Maritime has a variety of scholarship opportunities. There are other external sites, including College Board and CollegeNet, that offer additional funding.

 

Parent PLUS Loans

A biological, adoptive or stepparent must apply for the federal unsubsidized loan and to qualify, you must be their legal dependent. PLUS loans require credit approval, which is valid for 180 days.

There is an origination fee of 4.292 percent, which will be deducted before funds are dispersed.

  • Interest, at a rate of 7.21 percent, begins to accrue when maritime receives the funds.

  • To apply, visit studentloans.gov and click “request for a Direct PLUS Loan.”

  • Payments begin 60 days after the final disbursement of the loan.

If the application is approved, Maritime will add the loan to your account. If it is denied because of the parent’s credit rating, the student will be permitted to borrow additional unsubsidized Direct Loan funds.

To avoid delays, we recommend your parent complete the application after June 15 if you are enrolling for the full year. If you are only enrolling for the spring or summer term, we suggest completing the application after Nov. 14.

 

Private Loans

Because loans from private lenders tend to Have and/or unfixed interest rates, please consider your need before applying.

Rates vary widely, so we recommend you shop around for a lender that fits your needs.

To apply:

  • Maritime’s private lender code is 002853

  • The lender will require a credit check, a master promissory note and a student self-certification from (link to download)

 

Most lenders will send the funds directly to Maritime. We will notify you when we receive the money.

You will need to verify your enrollment for your lender. You can do this by linking your student record to the National Student Clearinghouse.