; and (D) may establish such other criteria as the Secretary determines will protect the financial interest of the United States and promote the purposes of this section. (f) State maritime academies (1) Use of funds for loans to students attending State maritime academies The Secretary may obligate not more than 50 percent of the amounts appropriated to carry out this section for a fiscal year for loans to undergraduate students attending State maritime academies receiving assistance under chapter 515 of this title. (2) Academic standards for students Students at State maritime academies receiving loans under the program shall maintain satisfactory progress toward the completion of their course of study as evidenced by the maintenance of a cumulative C average, or its equivalent, or academic standing consistent with the requirements for graduation, as determined by the institution. (g) Loan amounts and use (1) Maximum amounts (A) In general The Secretary may not make loans to a student under the program in an amount that exceeds $30,000 in a calendar year or $120,000 in the aggregate. (B) Adjustment for inflation The Secretary shall, every 5 years for the life of a loan under the program, adjust the maximum amounts described in subparagraph (A) in accordance with any change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor that occurs since the previous adjustment. (2) Use of loan proceeds A student who receives a loan under the program may use the proceeds of the loan only for postsecondary expenses incurred at an institution designated by the Secretary under subsection (d)(4) for books, tuition, required fees, travel to and from training facilities, and room and board. (h) Student eligibility (1) In general Subject to paragraph (2), to be eligible to receive a loan under the program, a student shall— (A) be eligible to hold a license or merchant mariner document issued by the Coast Guard