Debt Management Loan
CGMA supports its members as they work on their financial resilience. The Debt Management Loan helps create the minimum financial condition to allow the client to live frugally while paying off debts responsibly.
Amount
Up to $7,500
Type of Assistance
Interest-Free Loan
Eligibility
Active Duty
Auxiliary
Civilian Employees
PHS Officers and Chaplains
Reserves
Retired Military Personnel
Surviving Spouses
Start with Your CGMA Rep
Start with your local CGMA Representative
There are more than 600 Coast Guard Mutual Assistance Representatives to help you.
FIND MY REPRESENTATIVEHow to Apply
Gather these documents:
- Your Coast Guard ID
- CGMA-51 Debt Management Loan Application
- Detailed budget and action plan
Contact your CGMA Representative to start the process.
Who's Eligible?
The member must complete financial counseling with
- A Coast Guard Personal Financial Manager (PFM)
- A member agency of the National Foundation for Credit Counseling (NFCC)
Once members have a budget and an action plan, they can apply for an interest-free loan of up to $7,500.
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