INTEREST FREE LOANS AND GRANTS
The Society’s Education Assistance Program offers interest-free loans and grants for undergraduate/post-secondary education at an accredited 2- or 4-year education, technical or vocational institution in the United States. This financial assistance is available for children of active duty, retired or deceased Sailors and Marines; and for spouses of active duty and retired Sailors and Marines.
NMCRS Education Assistance Program:
- Interest free loans and grants range from $500 to $3,000 per academic year
- Amount to be provided to each applicant will be determined by NMCRS
- Funds are payable and provided to the student’s academic institution, not the student
- Funds are to be used only for tuition, books, fees, room, and board
- Repayment of interest free loans must be by military payroll allotment within 24 months of the loan disbursal (repayment of interest free loans for MECEP/MECP must be within 48 months following receipt of a military commission)
- Repayment allotments must begin September 1, 2016 (or the month following receipt of a military commission for MECEP/MECP students)
- Students must complete a new application for each academic year
Eligibility Requirements - Applicants MUST:
- Be a child (under age 23 on May 1, 2016) of an active duty, retired or deceased Sailor or Marine
- Be a spouse of an active duty or retired Sailor or Marine
- Be registered in DEERS (Defense Eligibility Enrollment Reporting System)
Be enrolled, or planning to enroll, as a full-time student for the entire academic year (Aug-Jun) and pursuing initial undergraduate degree at a post-secondary, technical, or vocational institution that is:
- Located in the United States
- Accredited by a regional/national accrediting agency recognized by the U.S. Secretary of Education
- A participant in the U.S. Department of Education Title IV Financial Aid Programs
- Have a cumulative 2.7 or better GPA on a 4.0 grade scale
- DEMONSTRATE FINANCIAL NEED
Apply for NMCRS Education Assistance by downloading this application here: www.nmcrs.org/page/-/2016-17EdAssist%20Application%20%281%29.pdf.
Application, and ALL supporting documentation, must be postmarked no later than MAY 1, 2016!