The Office of Financial Aid manages the distribution of Federal Student Aid. ALL qualified students, regardless of financial need, are eligible to receive Federal Student Aid. There is no strict deadline for applying, but students are highly encouraged to file in a timely manner.

Here is the 5-step process for current Midshipmen and Appointees to apply for and receive aid:

Step 1: Complete the FAFSA

You must complete the Free Application for Federal Student Aid (FAFSA) for the academic year you are applying.

• Where to file: Online at www.fafsa.ed.gov
• School Code: You must use the USMMA School Code: 002892.
• Dependent Students: Your parent/guardian will need an FSA User ID and password to complete the form.
• Next Step: Forward a copy of your FAFSA confirmation email to the Financial Aid Administrator at dambral@usmma.edu.

Not sure what expenses aid can cover? View our full Cost of Attendance breakdown.

Step 2: Submit Federal Verification Documentation (If Applicable)

The Department of Education randomly selects some FAFSA applications for a process called "Verification." If you are selected, you will be required to print out a worksheet and submit additional documentation to verify your tax information. Learn more about FAFSA Verification on the College Board website.

• How to Request an IRS Tax Transcript
• IRS Verification of Non-Filers

Step 3: Receive and Review Your Award Letter

The Office of Financial Aid will use your FAFSA data, Cost of Attendance (COA), Student Aid Index (SAI), and financial need to determine your award.

• Once you receive your award letter, you can choose to accept the full amount, accept a partial amount, or decline the award.
• Note: Filing a FAFSA and getting an award letter does not obligate you to accept any loans. * If you accept the aid, you must sign the award letter and return it to the Office of Financial Aid. 

To see maximum annual loan limits or grant eligibility details, visit the Types of Aid page.

Accept or Decline Aid

Step 4: Complete Entrance Counseling & Master Promissory Note (Loans Only)

For Students (Subsidized & Unsubsidized Direct Loans)

If you are a new student borrower accepting a Direct Loan at USMMA, you must complete two federal requirements before your funds can be disbursed. You will log in using your student FSA User ID and password to complete:

• Entrance Counseling: An online session ensuring you understand your obligation to repay the loan.
  
  Start Entrance Counseling
   
• Electronic Master Promissory Note (MPN): A binding legal contract between you and the loan holder outlining the terms and conditions of repayment.
  
  Complete Master Promissory Note

For Parents (Direct PLUS Loans)

Because Direct PLUS Loans are borrowed by the parents of eligible dependent undergraduate students rather than the students themselves, the application and approval process is different. Parents must log in to https://studentaid.gov using their own parent FSA User ID and password to complete the following: 

• Direct PLUS Loan Application: Unlike student loans, Direct PLUS Loans are contingent upon a credit approval. Parents must complete the application to initiate the credit check. 
  
  Apply for a PLUS Loan for Parents
   
• Direct PLUS Master Promissory Note (MPN): A separate binding legal contract between the parent borrower and the loan holder that must be signed to outline the terms and conditions of the parent's repayment. This is the same link as the Promissory note link above, however Parents should scroll to the bottom of the page where the "I'm a Parent of an Undergraduate Student" option is available.
  
  Complete Master Promissory Note for Parents
   

Step 5: Receive Financial Aid Disbursements

Financial aid is disbursed in equal installments each term. To receive your disbursements, you must:

• Be enrolled at least half-time (in residence or at sea).
• Meet Satisfactory Academic Progress (SAP) standards.
• Have all verification, signed award letters, counseling, and MPN documents completed.

Disbursements require meeting Satisfactory Academic Progress standards.

Important Disbursement Timelines:

The timing of your financial aid disbursement depends on your student status and when you filed your FAFSA:

• First-Year Students (Plebe Candidates): Funds are held for 30 days after the first day of your first term.
• Returning Midshipmen: Fund processing begins during the first week of each term.
• Late Applicants: If you file your FAFSA after the term has already started, your aid will be awarded and disbursed on a rolling basis throughout the academic year.

Processing Times & Receiving Your Refund

• Account Posting: It can take 30 to 45 days for financial aid to be posted to your student account.
• Bank Refunds: If you have a credit balance after your fees are paid, it can take up to 14 days for that refund to be deposited into your bank account.
• Action Required: You must keep your active bank account information up to date with the Office of Academy Financial Management. Failing to do so will cause significant delays in receiving your refund.

Withdrawal and Return of Funds Policy

If you withdraw and cease to be enrolled at USMMA, your financial aid is subject to federal Return of Title IV (R2T4) calculations. This means you may be required to repay "unearned" federal funds to the U.S. Department of Education (ED).

• Repayment Deadline: You must return the unearned funds to USMMA within 45 days so the Academy can return them to the ED.
• Consequences of Non-Payment: If you do not return the funds within 45 days, your debt will be reported as an overpayment. This will block you from receiving any future federal student aid at any institution until the debt is fully paid.