CGMA is excited to announce that effective immediately, the Education Loan has been expanded for all eligible CGMA clients.
Last week the CGMA Board of Control voted unanimously to approve the following changes in the Education Loan program:
- The loan maximum amount increased from $2,000 to $3,000
- The restriction was removed that a client must repay any existing Education Loan balance before becoming eligible for an additional Education Loan.
For example - if a client received a $2,000 Education Loan in March of 2014 and has repaid six months at $100 ($600), and has a current outstanding loan balance of $1,400, that client would immediately be eligible for an additional $1,600 Education Loan, provided he/she is otherwise qualified.
- The CGMA Application for Education Loan CGMA 11 (pdf) has been revised.
- A new Education Loan Flyer (pdf) is available
Additional information: Specific application information, eligibility and program requirements for this program is available under chapter 3-C-7-e, Education Loan Assistance, of the CGMA Manual. (these changes will be included in the next change to the manual).
You give valuable time to assist CGMA clients and it is much appreciated!
Please let CGMA-HQ know (703) 875-0404 or toll free (800) 881-2462 or
if there is any way we can support your efforts as you serve your shipmates through CGMA.