What’s New

• Students who have been awarded Stafford Loans may be eligible for $2,000 more loan funds in Stafford Unsubsidized Loan for the 2008-2009 year. Please let the Financial Aid Office know if you would like the extra unsubsidized (i.e., 6.8% interest starts on disbursal) loan money by completing a Stafford Loan Reply Sheet including this amount in Unsubsidized Stafford Loan.
• The State University Fee, State University Grant, and the CalGrant amounts are being revised on your Financial Aid Awards because of a 10% fee and grant increase. Please check the new amounts online.
• Due to various factors, our lenders have decreased the borrower benefits on their Stafford and Plus Loans. Please doublecheck benefits with the lenders.
• New and continuing students should have their financial aid awards by now. If you have not received a letter, please contact the Financial Aid Office as soon as possible.
• Please apply for loans as soon as possible. Instructions are on page 2 of your award letter.
• Fees will be deducted by the lenders and guarantors this year before Stafford and PLUS Loans are disbursed at CMA.______________________________________________

2008-2009 Awards

If you plan to receive financial aid Stafford or PLUS Loans for the 2008-2009 academic year, please do the following:

1. Complete your FAFSA at www.fafsa.ed.gov. If you have already filled it out and have not heard from the Financial Aid Office at Cal Maritime, please contact us by email finaid@csum.edu or phone: 707-654-1275.
2. Accept the awarded loans, if you want them. In order to do this, please follow instructions on the second page of the award letter under “Messages”. If you have any questions about how to accept a loan, please contact the Financial Aid Office by email: finaid@csum.edu or phone: 707-654-1275.
3. Please make sure you follow all the steps for your Stafford Loans. They are:
   1. Use the same lender you had last year so that you will not need to complete another MPN and pay two lenders when you leave CMA. To do this, please click on the Stafford Loan Reply Sheet at www.csum.edu/financialaid, and fill it out. If you do not remember your lender’s name, say “Same as Last Year.”
   2. If this is your first Stafford FFELP Loan at Cal Maritime, please use www.simpletuition.com/calmaritime to choose a lender. You will be taken to the Stafford Loan Reply Sheet.
   3. If you prefer to use another lender, please mark the name and lender code on the Stafford Loan Reply Sheet. The Stafford Loan Reply Sheet is in our website, www.csum.edu/financialaid, click on Stafford Loan Reply Sheet. If you can find another reputable lender with better rates than the ones at www.simpletuition.com/calmaritime, please let us know at the Financial Aid Office.
   4. For new loan borrowers, you will receive information by email or letter from EdFund, our guarantor, telling you where to complete your Entrance Loan Counseling and Master Promissory Note (MPN). Both are necessary to receive your loans.
4. Please follow the following steps for your Parent PLUS Loans:
   1. If your parents have had a PLUS Loan in previous years at CMA, have them go online to their lender and apply for the loan. The amount is on the Financial Aid Award Letter.
   2. If this is your parents’ first year to apply for a PLUS Loan at Cal Maritime, please try www.simpletuition.com/calmaritime, look under Parents and choose a lender. You can click on the lender site and apply.
   3. If you would like another lender, please apply with them, but let us know who you chose, so that we can work at getting the loan at CMA.

Please make sure you complete the process as soon as possible.

 If you have any questions, please contact the Financial Aid Office at finaid@csum.edu or 707-654-1275. Thank you.

Disbursements

Students receive disbursements of all grants and loans when the student is attending  classes at Cal Maritime. If the student is attending classes and has met with all other eligibility requirements and if Cal Maritime has received the funds from the source, the disbursements are noted in the students' account. Any checks resulting from all the fees being paid are sent to the student within ten days, except for monies remaining after fees have been paid by PLUS loans. In this case, the remaining funds are sent to the parent within ten days.