Cadets Fund Plan

BSc in Nautical Science

The Cadets’ Funding Plan is an optional funding plan that covers the 2/3 of the tuition fees of the 2nd, 3rd and 4th year of studies. The specific plan is offered to the Cadets after a personal interview and agreement between the Cadet and a shipping company and it is subject to specific terms.

APPLICATION CRITERIA

In order for a Cadet to be eligible to apply for the Funding Plan, he/she must fulfil the following criteria:

  • Maintain a CPA score of 2.0 out of 4.0 (Letter grade ‘C’) in each of both semesters, A and B
  • Successful completion of the Basic Safety Training
  • Successful completion of a 2-month summer placement aboard a ship
  • Receive a positive assessment from the responsible person supervising training on-board
  • Younger than 27 years of age (inc)

TERMS AND CONDITIONS

The Funding Plan is subject to specific terms and conditions. The most important are:

  • Each cadet will receive funding from a shipping company on an annual basis equivalent to €2,500; as well as an additional €2,500 for the 2nd, 3rd and 4th year of their studies from the Cyprus Maritime Academy. In total, the cadet will receive an annual funding equivalent to €5,000 for years 2, 3 and 4 of his/her studies. The remaining tuition fees for the student for the academic years 2, 3 & 4* will be €2,500 per year.
  • The cadet is bound to a minimum 3-year employment contract at the same shipping company that has undertaken his/her funding (salaries vary depending on the company).
  • While in employment, the cadet in agreement with the employing company, will be due to repay the funding amount received from both, the Employing Company and the Academy, in 24 installments.
  • In case the cadet withdraws from the program; if for any reason the cadet does not complete the program successfully; does not maintain a satisfactory GPA score; does not continue to receive positive reviews during his/her placement; and/or does not complete his/her employment at the shipping company that has funded him/her as per his/her signed contract with the company, then all outstanding tuition fees will automatically be considered as debt due to be repaid to the Cyprus Maritime Academy.
YEAR FEES SCHOLARSHIP FUNDING FINAL FEES
1st €7,500 €1,500 €6,000
2nd €7,500 €5,000 €2,500
3rd €7,500 €5,000 €2,500
4th €7,500 €5,000 €2,500
TOTAL €30,000 €1,500 €15,000 €13,500
12 months onboard practical placement €2,400
(€200 Minimum remuneration per month of sea service)**
  €2,400
Subsidy €600 per month of sea service***    €7,200
Minimum Tuition Fees    €3,900

* The Funding Plan is optional and provided solely to the Cadets following an agreement between the cadet and the interested Shipping Company.
** The onboard practical placement remuneration depends on the policies of each Shipping Company separately.
*** The Subsidy is sponsored by the Shipping Deputy Ministry of the Republic of Cyprus and applies only for the citizens of the European Union upon fulfilment of specific criteria

Diploma Class ‘C’ Marine Engineer

The Cadets’ Funding Plan is an optional funding plan that covers the 2/3 of the tuition fees of the 2nd and 3rd year of studies. The specific plan is offered to the Cadets after a personal interview and agreement between the Cadet and a shipping company and it is subject to specific terms.

APPLICATION CRITERIA

In order for a Cadet to be eligible to apply for the Funding Plan, he/she must fulfil the following criteria:

  • Maintain a CPA score of 2.0 out of 4.0 (Letter grade ‘C’) in each of both semesters, A and B
  • Successful completion of the Basic Safety Training
  • Successful completion of a 2-month summer placement aboard a ship
  • Receive a positive assessment from the responsible person supervising training on-board
  • Younger than 27 years of age (inc)

TERMS AND CONDITIONS

The Funding Plan is subject to specific terms and conditions. The most important are:

  • Each cadet will receive funding from a shipping company on an annual basis equivalent to €2,500; as well as an additional €2,500 for the 2nd and 3rd year of their studies from the Cyprus Maritime Academy. In total, the cadet will receive an annual funding equivalent to €5,000 for years 2 and 3 of his/her studies. The remaining tuition fees for the student for the academic years 2 and 3 will be €1,500 per year.
  • The cadet is bound to a minimum 3-year employment contract at the same shipping company that has undertaken his/her funding (salaries vary depending on the company).
  • While in employment, the cadet in agreement with the employing company, will be due to repay the funding amount received from both, the Employing Company and the Academy, in 24 installments.

In case the cadet withdraws from the program; if for any reason the cadet does not complete the program successfully; does not maintain a satisfactory GPA score; does not continue to receive positive reviews during his/her placement; and/or does not complete his/her employment at the shipping company that has funded him/her as per his/her signed contract with the company, then all outstanding tuition fees will automatically be considered as debt due to be repaid to the Cyprus Maritime Academy

YEAR FEES SCHOLARSHIP FUNDING FINAL FEES
1st €6,500 €1,300 €5,200
2nd €6,500 €5,000 €1,500
3rd €6,500 €5,000 €1,500
TOTAL €19,500 €1,300 €10,000 €8,200
12 months onboard practical placement €2,400
(€200 Minimum remuneration per month of sea service)**
  €2,400
Subsidy €600 per month of sea service***    €7,200
Minimum Tuition Fees    €3,900

* The Funding Plan is optional and provided solely to the Cadets following an agreement between the cadet and the interested Shipping Company.
** The onboard practical placement remuneration depends on the policies of each Shipping Company separately.
*** The Subsidy is sponsored by the Shipping Deputy Ministry of the Republic of Cyprus and applies only for the citizens of the European Union upon fulfilment of specific criteria