APPLICATIONS FOR THE 2015-2016 ACADEMIC YEAR WILL BE AVAILABLE 1 NOVEMBER 2014
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.
Spouses of active duty Sailors and Marines stationed and living outside the United States are also eligible for the Society’s Spouse Tuition Assistance Program (STAP). For STAP assistance, contact your nearest overseas NMCRS office. NMCRS office locations and business hours are located here: http://www.nmcrs.org/locations.
A universal application, along with supporting documentation, is required for each student. Active duty members, veterans and spouses applying for educational assistance may be required to complete additional documentation – which will be emailed separately to eligible applicants.
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, 2015 (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 for the 2015-2016 academic year - Applicants MUST:
- Be a child (under age 23 on May 1, 2015) of an active duty, retired or deceased Sailor or Marine
- Be a spouse of an active duty or retired Sailor or Marine
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 3.0 or better GPA on a 4.0 grade scale
- DEMONSTRATE FINANCIAL NEED