Money

Discussion in 'Merchant Marine Academy - USMMA' started by tiger456qw, Mar 19, 2016.

  1. tiger456qw

    tiger456qw Member

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    Would anyone care to explain why one would have to pay close to 11,000 per year at Kingspoint, but still serve after one graduates? I am just curious. Thank you.
     
  2. fantail

    fantail New Member

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    Where are you seeing the $11,000 fee?
     
  3. usmma2020z

    usmma2020z Member

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    From what I've read, that 10,000-11,000 is estimated expenses over the 4 years. These are for haircuts, laundry, trips into the city, transportation, etc.
     
  4. cruisemom67

    cruisemom67 DD USMMA Class of 2020

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    Isn't the 11,000 for all four years? The other academies make the students pay their fees as well. However, the other academies are DOD and the cadets get paid each month. Fees come out of their pay checks. KP doesn't pay the students. They only get paid while at sea. About $1,000 per month. The othe SA have 5 year active duty requirement with 8 years reserves. KP has requirement they work in Merchant Marine industry OR serve 5 years, plus the 8 year reserve requirement. Very different opportunities for KP. BUT the $11,000 is most likely all four years. Plebe year is 3-4k and other years 2-3k. Costs are more for plebe because they have to buy computer, plebe package, etc. Google "logging in for 2019 USMMA" and you will find the breakdown. My oldest DD is at 4 year college. She pays those costs plus tuition, room and board. Actually she's on full ride for those but has other costs....computer, books, parking, etc.
     
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  5. TXHopeful

    TXHopeful Member

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    Much of what you see as the approx $11,000 cost of attendance on the MMA website is unbilled costs such as health insurance, personal expenses, books, travel, etc. For the most part these expenses will exist at any college, on top of the fees owed directly to the university. If you look up the cost of attendance for most universities, it will be significantly higher than the cost of tuition and room/board because it includes books, personal expenses, etc.
     
  6. tiger456qw

    tiger456qw Member

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    Thank you everybody for the helpful information!
     
  7. usmma2020z

    usmma2020z Member

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    This is the first I'd seen this packet. This packet basically answers any and all questions. After looking at it, they're asking you to spend an arm and a leg before you show up. However, a lot of it looks like one time fees. Go check it out, it's full of great info!
     
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  8. cousmma5280

    cousmma5280 Member

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    Cost of Attendance


    Cost of Attendance Explained

    Due to the unique nature of USMMA, it is difficult to place an exact figure on Cost of Attendance (CoA). To calculate CoA, the Academy considers two types of costs when factoring CoA. They are Billed and Estimated Un-Billed Costs.

    Billed costs include: All “Midshipmen Fee” services. (Laundry Service, Barber Shop and Tailors) These are costs which the Midshipmen is “billed” for at the beginning of the academic year. These costs must be paid in order for the Midshipman to be enrolled at USMMA. Midshipmen are NOTbilled these expenses while at sea.

    Estimated Un-Billed costs include: Expenses such as Licensing fees, transportation costs, personal expenses, required academic supplies, health insurance (if required). For freshmen, this cost includes the laptop package and plebe/educational kits. Un-Billed costs will vary for each Midshipman.

    The Billed cost range from +/- $700 to +/- $1100 a year

    The Un-Billed costs are mostly for travel expenses to and from the Academy to midshipman's home on breaks, and Health Insurance if yours doesn't cover them in NY.


    https://www.usmma.edu/admissions/financial-aid/cost-attendance

    Service Obligation

    Overview

    At the Academy you will receive an excellent education and the skills necessary for a successful career. Since the Federal Government has a substantial investment in your education, you will be required to fulfill the terms of a service obligation after graduation. Questions regarding the Service Obligation can be directed to the Maritime Administration by email maritime.graduate@dot.gov or by phone (202) 366-7618.

    They cover most of your expenses while attending the Academy.
    Scholarship is valued at more than $250,000.


    https://www.usmma.edu/admissions/application/service-obligation
     
    Last edited: Apr 17, 2016

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