Sources of Financial Aid

Maine Maritime Academy

I. Need-based Grants

Maine Maritime has one endowed grant fund that is reserved for incoming first-year students with need as determined by their FAFSA data. Individual awards typically range from $600 to $2000.


I. Grants

Need-based federal grant awarded by the Department of Education for students with financial need, as determined by the FAFSA.

Supplemental Educational Opportunity Grant (SEOG)
Must be Pell eligible to receive; range from $100 to $1000; does not have to be repaid.

II. Loans

A need-based loan with a low variable interest rate (determined July 1 of each year); interest is federally subsidized while student is enrolled; repayment deferred until 6 months after graduation or withdrawal; maximum dollar amounts: $3500 (1st year); $4500 (2nd year); $5500 (3rd and 4th years); Students must complete an Entrance Counseling form and a Master Promissory Note at MMA will certify student enrollment status and loan amount.

Unsubsidized loans – borrower is responsible for interest; – $2000 available to ALL students; – independent students are eligible for additional unsubsidized loan amounts. Students must complete an Entrance Counseling form and a Master Promissory Note at

Parent Loan of Undergraduate Students (PLUS)
The federal PLUS program helps parents assist their dependent children in meeting the costs of higher education. Under the federal PLUS program, parents are the actual borrowers. Parents are eligible to borrow up to the Cost of Attendance minus any financial aid the student is eligible to receive. Parents must complete a Master Promissory Note at If a parent is denied a Parent Direct PLUS Loan based on credit, the student may be eligible for additional Unsubsidized Loans.

III. Work Study

Work study is money earned while attending school; does not have to be repaid; on campus or community service employment. Students earn bi-weekly paychecks, and may work up to 20 hours a week; wages are based on the current State of Maine minimum wage rate.

IV. Veteran’s Tuition Benefits at MMA


Maine Maritime Academy will charge in-state tuition rates to all current and former members of the US Armed Forces who were honorably discharged, regardless of whether or not they are receiving benefits and without regard to their date of discharge.

Veterans’ Dependents

Effective July 1, 2017, an individual who is a “covered individual” as defined in 38 U.S.C. § 3679(c)* will be assessed in-state tuition rates at Maine Maritime Academy.   Further, once the in-state tuition rate is applied to the eligible individual, it shall remain in effect until the individual completes their academic program, even after GI Bill benefits have been exhausted, transferred, or are otherwise expired.

A “covered individual” is defined as:

  • A veteran who lives in the state in which the institution of higher learning is located (regardless of his/her formal state of residence) and enrolls in the school within three years of discharge or release from a period of active duty service of 90 days or more.
  • A spouse or child using transferred Post-9/11 GI Bill Benefits (38 U.S.C. § 3319) who lives in the state in which the institution of higher learning is located (regardless of his/her formal state of residence) and enrolls in the school within 3 years of the transferor’s discharge or release from a period of active duty service of 90 days or more.
  • Any student as described above will continue with the benefit while he or she remains continuously enrolled at MMA (other than during regularly scheduled breaks between courses, semesters, or terms). The person must have enrolled at MMA prior to the expiration of the three year period following discharge or release as described above and must be using educational benefits under either chapter 30 or chapter 33 of title 38, U.S.C.
  • Anyone using transferred Post-9/11 G.I. Bill benefits (38 U.S.C. § 3319) who lives in Maine while attending MMA (regardless of his/her formal state of residence) and the transferor is a member of the uniformed service who is serving on active duty.
  • A spouse or child using benefits under the Marine Gunnery Sergeant John David Fry Scholarship who lives in the state in which the institution of higher learning is located (regardless of his/her formal state of residence).

Please contact the School Certifying Official’s Office at 207-326-2236 or  for information regarding necessary documentation to confirm your status as a “covered individual”, a Veteran, or an active duty service member, to apply for Yellow Ribbon Program benefits, or if there are additional questions.

Yellow Ribbon Program Participation

MMA has 12 scholarships for non-Maine resident students who have had 100% of benefits transferred to them from a spouse or parent Veteran that has been discharged for more than 3 years prior to the first date of the Dependent’s enrollment at MMA. These are offered on a first come, first served basis and provide an additional scholarship equivalent to the difference between the In State tuition rate and the spouse’s or dependent’s Out of State or Regional Tuition rate after the Yellow Ribbon Program payment has been received by MMA for that student.  Renewal of the Yellow Ribbon program payment for subsequent years is contingent upon satisfactory academic progress and remain in good standing in terms of citizenship.

Tuition Waivers

Veteran’s Dependent Waiver

Per Maine law, tuition, mandatory fees and lab fees will be waived for eligible orphans, widows & widowers of veterans as well as spouses and children of veterans who are disabled, missing in action,  (most often referred to as Chapter 35 benefits eligibility). Initial eligibility is determined by the Veterans Affairs Office of the State of Maine. Students must be enrolled in an associate’s, bachelor’s or master’s degree program. The tuition waiver may be reduced by an amount necessary to ensure that the value of this waiver, combined with all other grants and benefits received by the student, does not exceed the total cost of education. See MRSA, Title 37-B, Section 505, as amended 2008, P.L. c.521 for details.

V. Navy ROTC Scholarship and College Programs

On-campus Navy/Marine Corps ROTC programs train qualified young men and women to become officers in these services upon graduation from college. For scholarship opportunities, please contact Commanding Officer, NROTC Unit, Maine Maritime Academy, (207) 326-2352, email, or visit the Navy and Marine ROTC national scholarships website.

VI. Strategic Sealift Midshipman Program (SSMP)

Formerly the Merchant Marine Reserve (MMR), this program is an excellent way to help finance your MMA education. The SSMP is designed to train and educate highly qualified students for commissioning and reserve duty service as officers in the U.S. Navy Reserve (USNR). If selected, students are eligible to receive up to $32,000 during their time at school. This program is designed for students pursuing a USCG Unlimited License and to ensure the United States has a sufficient merchant marine to serve as naval support in time of a national emergency. For information about SSMP, click here.


I. Grants:

FAFSA data for students from Maine is forwarded to The FAME/Maine program each year and evaluated for state grant eligibility. Qualifying Maine Maritime Academy students will automatically receive the Maine Grant based on FAFSA information and enrollment status.

The State of Vermont has a reciprocal agreement with the State of Maine.

Each state calculates grant eligibility differently – most will use your FAFSA information. Each state’s deadline is listed on the cover of the FAFSA.

II. Maine Foster Care Tuition Waiver Program

Maine Maritime Academy participates with FAME in a tuition waiver program for foster and adopted children/wards who meet eligibility criteria and are receiving subsidies from the Maine Department of Health and Human Services (DHHS). The waiver covers cost of tuition during fall and spring semesters and is renewable for up to five years of full-time enrollment, contingent on continuing good academic standing. Students are required to provide proof of acceptance/enrollment at an eligible Maine school to file the FAFSA each year. The application opens annually in March and is available online as a PDF document which must be printed, completed, signed, and mailed to the Finance Authority of Maine (FAME). The program follows Maine law, detailed in 20-A M.R.S.A. §12571 et seq. and Chapter 608 of the Rules of the Finance Authority of Maine. Eligible students are selected on a first-come, first-served basis. Renewal applications are mailed annually to current recipients by the end of March. For more information and specifics, please visit The Finance Authority of Maine (FAME).

Other Sources of Financial Aid

I. Payment Plan Option

MMA offers an affordable, interest-free alternative to lump sum payments. The Nelnet Business Solutions (NBS) Monthly Payment Plan.

  • spread your payments over 10 months, interest free, for a $75 fee,
  • borrow less, save money by using current income and savings to make monthly payments.

Contact our Business Office at (207)326-2243 or contact MyCollegePaymentPlan at (800)609-8056.

II. Alternative (Private) Education Loans

Alternative loans are credit-based loans offered by many lenders (banks and credit unions) that can be used to supplement the financial aid. The student is the borrower and a credit worthy co-signer may be required. These loans typically offer a fixed or variable interest rates and lack the benefits of federal student loans. Students may borrow up to the Cost of Attendance minus any financial aid they are eligible to receive. Please refer to for a list of lenders. A separate application is usually sent directly to the lender, which is then forwarded to our office for certification of the student’s status.

III. Native American Tuition Waiver

For students who are enrolled at MMA, this program covers in-state tuition charges for:

  • Students whose names are included on the current Maine tribal census, or who have at least one parent or grandparent included on the current Maine tribal census, of the Passamaquoddy Tribe, the Penobscot Nation, the Houlton Band of Maliseet, and Aroostook Band of Micmac, and who provide MMA with official documentation directly from the tribe, Nation or band in a sealed envelope, similar to the process used for official transcripts. Click here for more information.

IV. Private Scholarships/Grants

Private organizations offer financial assistance to many qualified individuals each year:

  • Contact your local business and community organizations;
  • High school guidance offices receive many scholarship notifications; check regularly
  • Endowed MMA Scholarships

Some websites offering additional financial aid information:

MMA does its best to meet the need of its students. If you have questions regarding financial aid awards, contact the Director of Financial Aid.

If your family/individual financial circumstances change dramatically during an academic year it is possible that your financial aid could also change. If you feel that you have significant reason to request a review of your financial data, you may do so. Each review situation is handled on an individual basis and not all requests result in a change of financial aid.

All colleges have the right to review, but not all colleges will review in the same manner. Making requests for another child at another institution may not result in the same changes at both schools. We will do our best to help.