Debt Management Loan

CGMA is dedicated to supporting its members as they build financial resilience. The Debt Management Loan is designed to help create a stable financial foundation by assisting members in managing their debts responsibly. This loan provides the means to live within a frugal budget while focusing on paying down outstanding debts, ultimately helping members regain control of their finances and work toward long-term financial stability.

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.

How to Apply

Gather these documents:

Your Coast Guard ID
CGMA-15 Personal Budget
Detailed budget and action plan/memo from financial advisor

Apply directly online:

Requirement

All members are required to complete financial counseling with either a Coast Guard Personal Financial Manager (PFM) or a member agency of the National Foundation for Credit Counseling (NFCC). Once members have developed a budget and an action plan, they can apply for an interest-free loan of up to $7,500 to help manage their debts.