Since you already have a college degree it would make the most sense for you to do the M.S. / 3rd mate program at SUNY. Then you will have unlimited 3rd mate, and a master’s degree. You can probably do the M.S. / 3rd mate program in about three years. If you learned anything in college this should be easy for you. In your undergrad classes you will be competing with teenagers and kids in their 20’s. In your graduate classes, your classmates will be mostly unlimited masters and chief engineers — excellent mentors and people for you to network with throughout your career. You can get federal student loans with no interest while you are in school to pay for it all. If you already have student loans those can also be deferred with no interest while you are in school.
If you go the hawespipe route, it will take you six years (on an even time schedule) to get to 3rd mate, and eight years to get to master 1600. If you work on vessels under 200 tons, you will probably never get to 3rd mate, and it may take longer to get to master 1600. 720 days of your time for master 1600 must be on vessels over 100 tons.
The rules could be changed midstream to make it even harder to go the hawespipe route. The entire licensing system is rigged in favor of the academies and their grads. If you go the hawespipe route you will be at a significant disadvantage for your entire career.
Going to the academy is an absolute no-brainer.