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Massachusetts Maritime Academy - FAQ's Financial Aid - FAQ's

1. When will I receive a Financial Aid Application and is it available online?
In addition to filing the FAFSA, students must also submit a separate institutional financial aid application.  Not all schools require a separate financial aid application, however, MMA does.  The application is available on line and can be found on our Applying For Financial Aid link.

 Students must re-apply for financial aid each year, preferably by our May 1st deadline.

2. When will I be notified of my financial aid award?
Financial Aid award letters will be mailed to all new, incoming students beginning in early April.  Upperclass students will receive emails on their MMA email accounts when their award letters are ready to view and print through Webadvisor.

3. How are financial aid packages determined?
Financial aid packages are determined based on financial need.  In order to figure out a student’s need we use the following equation:

Cost of Attendance – Expected Family Contribution = Financial Need

Cost of Attendance
(COA) is the sum of all anticipated student costs for the year, including room, board, tuition, fees, sea term charges, orientation fee, books, miscellaneous/computer expense, travel allowance and health insurance (when applicable).

Expected Family Contribution (EFC) is determined by a processed FAFSA after taking into consideration all of the financial and household information that you and your family provided on the FAFSA.

Need is the difference between cost of attendance and expected family contribution.  This “window” can be awarded need-based aid to include grants, waivers, scholarships, workstudy and subsidized loans.

Students who complete their financial aid application by our May 1st priority deadline are given priority for all funding.  Students who complete their applications after the May 1st priority deadline are awarded on a funds-available basis.

4. If my parents are divorced, which parent do I report on the FAFSA and the MMA financial aid application?

The parent with primary custody should provide the financial information.  If that parent is remarried, the step-parent's information is also required. If neither parent has been assigned custody, the parent with whom the student lives with the most should be the provider of information and should be the signing authority on the FAFSA.  If you do not currently live with either parent, you would use the parent with whom you most recently lived.

5. If my parents are unable, or unwilling to contribute to my education can I be considered an “independent” for financial aid purposes?

A student is only considered independent if they can answer yes to one of the following questions:

  • Are you at least 24 years of age?
  • Are you married?
  • Do you provide at least 50% support for your own dependent child?
  • Are you a veteran?
  • Are you an orphan?
  • Since the age of 13 have you been a ward of the court or under legal guardianship?
  • Are you an unsupervised minor who is homeless or at risk for being homeless?

Occasionally there is an exception to this; however it will be determined on an individual basis and with acceptable documentation.  If you feel that you should be considered an independent student based on unusual circumstances, feel free to make an appointment with the Director of Financial Aid.

6. What if my/my parents' finances and/or employment information have changed since completing the FAFSA?
It is anticipated that all student’s income information will change once they are enrolled at MMA and, therefore, adjustments are not made in this regard.  If a parent’s finances change, they should provide a signed letter explaining the change and send a copy of whatever official documentation you have supporting the change (i.e. last pay stub, letter from employer, unemployment benefits worksheet, etc.).  The Financial Aid Office will likely also send special forms to be completed by your parent.

7.  What if financial aid does not cover all expenses?

There are several different methods of funding the balance due.  The Alternative Funding Options link provides a list of options.

8. If additional scholarships are received, will my financial aid package be reduced?
If the student has any 'unmet need', the additional scholarship can be used to fill that gap.  If the student has need, and is receiving financial aid to fully fund their need (COA - EFC), we are required by law to adjust your aid.  We will first reduce self-help (need based loans and work study) and will only reduce grants if all other avenues have been exhausted.

9. Please explain the Maritime Regional Tuition Rate.
Beginning with students entering in the Fall, 2014, this rate applies to students from Delaware, Florida, Georgia, Louisiana, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Virginia, and Washington, DC.  Students who were enrolled prior to Fall, 2014 will be charged what is now called the New England Regional tuition rate.

last updated 4-24-2015 by