Summary of Financial Aid Available

In addition to the scholarships, grants, loans and student employment available to all Maritime Academy/Ferris State University students, there are additional sources of financial aid available to Maritime cadets: Seatime Grant-In-Aid, Merchant Marine Student Incentive Payments (SIP), Maritime Revolving Loan Fund and maritime specific scholarships.

Seatime Grant-In-Aid

Great Lakes shipping companies fund Grants-In-Aid to cadet observers provided students complete their sea time with companies that are members of the Lake Carriers Association. While sailing as cadet obsevers for Lake Carriers students receive between $1,200 to $1,800 for each sea project. Ocean companies compensate cadets directly for their time aboard ship. Three sea projects are completed as part of the required curriculum.

Merchant Marine Student Incentive Payments (SIP)

Federal Student Incentive Payments of $1,000/quarterly for a total of $4,000/year for a maximum of 48 months are available to qualified members of each incoming Great Lakes Maritime Academy class. A military obligation in either Reserve or Active duty Navy is required. Cadets in this program are commissioned as officers upon graduation.

The Maritime Revolving Loan Fund

This is a short-term emergency loan available to maritime cadets who are officially enrolled in the Academy and are registered for approved maritime classes. A maximum loan may not exceed one-half of the tuition and fees for one academic semester. Exceptions include special need cases and sea time semesters.

Maritime Scholarships

Learn more about Maritime scholarships.