Commercial Diving Financial Assistance
At Divers Academy International™, we are committed to helping students achieve a fulfilling and rewarding commercial diving career. We have developed a number of payment options to assist students with tuition costs. Our Financial Assistance Office is available to assist students with financial aid opportunities and tuition payment options to help develop a financial aid package that suits a student’s needs.
Divers Academy International™ is approved for participation in Federal Student Assistance Programs. Students seeking financial assistance must first complete a Free Application for Federal Student Aid (FAFSA) online. Students may qualify for one or more of the federal financial assistance programs described below. Additional funding programs and GAP Loans are also available.
Divers Academy Assistance Programs
Federal Pell Grant
The Federal Pell grant is a federally funded program that assists undergraduate students in financing their education if they qualify. A student’s eligibility is based on a federally mandated income and need formula. Unlike loans, grants do not have to be repaid for those who qualify.
Federal Direct Subsidized Stafford Loan Program
Direct Federal Subsidized Stafford Loans are available to students who have demonstrated a financial need. The maximum variable interest rates are adjusted annually on July 1. This is a loan and must be repaid with interest for those who qualify.
Federal Direct Unsubsidized Stafford Loan Program
Direct Federal Unsubsidized Stafford Loans are available to students who have not demonstrated a financial need. These students may borrow an Unsubsidized Stafford Loan. Independent students or dependent students whose parents are denied a PLUS loan may apply if they qualify. The maximum variable interest rate is adjusted annually on July 1. The interest is charged to the loan from the time the loan is disbursed until the loan is repaid by the borrower. Students have the option of capitalizing interest or paying the interest during in-school periods and deferments. Capitalizing loan interest means that the interest charged on the loan will be added to the outstanding principal (the amount borrowed) not more often than quarterly. The loan will then be charged interest on the increased principal amount. Capitalization allows a student to postpone payment, but students should be aware that it is more costly than if interest is paid while in school.
Federal Direct PLUS Loan Program
Federal Direct PLUS Loans are available to the parents of dependent students. The maximum variable interest rate is adjusted annually on July 1. Repayment begins on the day the loan is fully disbursed, with the first payment due 60 days after the final disbursement. The PLUS loan borrower must pass a credit check. A school cannot certify a PLUS loan application until the school has verified the student’s financial aid history.
Gap Funding Loans
Alternative loans are available through HESAA of New Jersey or Sallie Mae. These are personal loans. Interest is charged from the time the loan is disbursed. These loans are to assist students with the financial gap that federal financial assistance will not cover.
Veterans Education Assistance (VA)
A variety of veterans programs are available to eligible students, including Chapter 33, post-9/11 GI-bill, and Chapter 30 GI Bill. Call our financial assistance office for the necessary forms, or contact your local VA office. Divers Academy is a military friendly school.