Chancellor King Celebrates Expansion of SUNY Maritime Pay It Forward Fund

Pay It Forward Fund Initiative Helps SUNY Maritime Students Participate in Summer Sea Term via Financial Assistance and Supportive Services

Expansion will Support over 80 Students in Summer 2026, Growing from 18 in 2025

Bronx, NY — State University of New York Chancellor John B. King Jr. celebrated the expansion of the successful SUNY Maritime Pay It Forward Fund initiative during a visit to the SUNY Maritime campus. The effort, first announced in June 2024, helped 18 SUNY Maritime students participate in the 2025 Summer Sea Term through financial assistance and supportive services. Through the expansion of the fund, over 80 students will be able to benefit from the initiative during the upcoming Summer Sea Term, from May through July.

"SUNY Maritime and the Summer Sea Term provide pathways to upward mobility in the maritime industry," said SUNY Chancellor King. "The Pay It Forward Fund helps ensure that affordability never stands in the way of a student's opportunity, and SUNY is proud that as the fund continues to grow, there will be fewer financial barriers for students to participate going forward."

SUNY Board Trustee Marcos Crespo said, "The Pay It Forward Fund is empowering more students on their journey to outstanding careers in the maritime industry, and supporting their ability to put their skills to work during the SUNY Maritime Summer Sea Term. We thank Governor Hochul and the State Legislature, especially State Senator Nathalia Fernandez and State Assemblymember Michael Benedetto, for their unwavering support of SUNY Maritime and their investment in our students, our campuses, and our initiatives to advance upward mobility. SUNY Maritime helps ensure our nation is a global shipping and commerce leader, and the students who participate in the Summer Sea Term are ready to set sail and use their experience to advance their careers and grow our economy."

SUNY Maritime President Rear Admiral John Okon said, "We are grateful for the State's strong and sustained support of SUNY Maritime College and our Cadets, support that directly expands access and drives success. This commitment includes initiatives like the Pay It Forward Fund (PIFF), which provides student-friendly financing for the transformational experiences of Summer Sea Term and Cadet Shipping, requirements that can otherwise present significant financial barriers. At a time when the need for U.S. Coast Guard–licensed Mariners is greater than ever, these State-backed efforts ensure that qualified Cadets can complete the hands-on learning essential to earning their licenses. By investing in our students, New York is investing in the future of the maritime workforce and strengthening a pipeline of skilled leaders vital to both economic prosperity and national security."

SUNY Maritime Cadet 3/C Juan Riojas said, "As an EOP Ambassador, I find navigating funding for my education challenging, but the PIFF has made it manageable. Receiving PIFF support last year as a freshman lifted a significant burden from my shoulders. It proved to me that there are generous individuals who genuinely want to help students succeed. I was informed about the funding just before the Summer Sea Term, and it truly changed my life. Without it, I would have never made it to Europe."

State Senator Nathalia Fernandez said, "When we invest in students, we invest in our future. Expanding the Pay It Forward Fund ensures more SUNY Maritime cadets can complete the Summer Sea Term, gain critical hands-on experience, and step into careers that keep New York moving and our economy strong."

The Summer Sea Term provides SUNY Maritime students with hands-on experience of working on, sailing, and powering a marine vessel. The training is a requirement for U.S. Coast Guard licenses but can cost close to $45,000 per student over three summers, which can be a major recruitment challenge for the school, and a significant financial challenge for many students from low-income backgrounds. The Pay It Forward Fund is part of SUNY's efforts to fill maritime workforce gaps, increase access to economic mobility, and help Pell-eligible New York State resident students pay for the costs of Summer Sea Term.

The Pay It Forward Fund was launched for the 2025 Summer Sea Term, with an initial group of 18 students benefiting from the program. Through strong support from Governor Kathy Hochul, state legislative leaders, and area representatives State Senator Nathalia Fernandez and State Assemblymember Michael Benedetto, the fund was established to benefit up to 200 students over four years by providing students with 0% interest, $0 fee outcomes-based loans, with loan repayments from students or employers recycling to support future students.

Under the Pay It Forward model, public and philanthropic funds are used to support education, training, and supportive services for learners. After training, learners who land jobs earning above a certain income threshold repay outcomes-based loans, or an employer may repay on their behalf. Then, learner and employer repayments are "paid forward" to support the next cohort of learners, extending the impact of each dollar invested in the Fund and broadening the maritime talent pipeline. By using a recycling loan fund structure, the school will serve more students than a traditional scholarship program.

About SUNY Maritime

The State University of New York Maritime College has a rich history dating back to 1874 and is the oldest State Maritime Academy. Established as the New York Nautical School, it was the first institution in the United States to offer commercial nautical instruction. The school's creation was driven by a need for trained maritime professionals, especially after the Civil War. Initially, the school operated aboard the USS St. Mary's, a sloop-of-war acquired from the U.S. Navy. Over time, the curriculum evolved to include advanced subjects in navigation, engineering, and marine sciences. In 1907, the training vessel was replaced by the USS Newport, a sail-steam hybrid. Facing financial challenges, the State of New York assumed control of the institution in 1913, renaming it the New York State Nautical School. The school continued to grow, and in 1929, it became the New York State Merchant Marine Academy. A significant milestone occurred in 1938, when the academy relocated to the historic Fort Schuyler in the Bronx, NY, providing a permanent shore-based training facility. In 1949, the academy joined the State University of New York (SUNY) System, adopting its current name.

Maritime College is more than just an institution— it’s the Peninsula of Opportunity and an engine of upward mobility. Maritime College offers a unique opportunity to Chart Your Course—a personalized experience where you select the path that aligns with your aspirations. Whether you choose to thrive in the structured, leadership-focused environment of the Regiment or enjoy the flexibility of the traditional student lifestyle, Maritime empowers you to shape your future both academically and professionally. On board Training Ship Empire State VII, and with more than a dozen undergraduate majors—including four ABET-accredited engineering programs, two master’s degree options, and a renowned U.S. Coast Guard license program—Maritime College arms you with the skills to navigate, power, and operate the world’s maritime industry. Beyond the classroom, Maritime fosters hands-on learning and leadership development with over 50 student clubs and organizations, 13 NCAA Division III teams, independent collegiate sports, and various programs, including the only Naval Reserve Officer Training Corps (ROTC) program in New York City. The college’s global alumni network offers unparalleled career connections and support. As higher education continues to evolve, Maritime College remains steadfast in its mission to develop the next generation of leaders who will navigate the future with integrity and vision. Our legacy, rooted in loyalty, valor, and leadership, will continue to guide us into the next 150 years. New York Maritime – First and Foremost.

About the State University of New York

The State University of New York is the largest comprehensive system of higher education in the United States, and more than 95 percent of all New Yorkers live within 30 miles of any one of SUNY’s 64 colleges and universities. Across the system, SUNY has four academic health centers, five hospitals, four medical schools, two dental schools, a law school, the country’s oldest school of maritime, the state's only college of optometry, 12 Educational Opportunity Centers, over 30 ATTAIN digital literacy labs, and manages one US Department of Energy National Laboratory. In total, SUNY serves about 1.7 million students across its portfolio of credit- and non-credit-bearing courses and programs, continuing education, and community outreach programs. SUNY oversees nearly a quarter of academic research in New York. Research expenditures system-wide are nearly $1.5 billion in fiscal year 2025, including significant contributions from students and faculty. There are more than three million SUNY alumni worldwide, and annually one in three New Yorkers who earn a college degree is a SUNY alum. To learn more about how SUNY creates opportunities, visit suny.edu.