Federal Aid Programs
The Federal Pell Grant is based on demonstrated need and is awarded to students who have not earned a Bachelor's degree. The award ranges from a minimum of $261 to a maximum of $4,731 for the year and this grant does not have to be repaid.
The Federal Supplemental Educational Opportunity Grant (SEOG) is based on exceptional financial need and is awarded to students who are enrolled at least half-time. This award ranges from a minimum of $100 to a maximum of $500 per year. This grant does not have to be repaid and funds are limited.
The Academic Competitiveness Grant (ACG) is based on exceptional financial need, Federal Pell Grant eligibility, the student must have a graduation date from high school after January, 2005, and must have passed an approved high school curriculum. An official high school transcript will need to be sent to the Financial Aid Office in addition to filing a FAFSA.
The Hawaii Student Incentive Grant (HSIG) is a grant available to students who are residents of the State of Hawaii, demonstrate exceptional financial need and are eligible for a Federal Pell Grant. Funds are limited.
The Federal Work-Study Program is based on demonstrated financial need and offers students the opportunity to earn their financial aid award through part-time employment on campus. Work hours are scheduled around a student's class hours and it's a great opportunity to gain valuable work experience while attending school.
The Federal Perkins Loan is a fixed, low-interest rate (5%) student loan. The school is the lender for this type of loan program. The amounts offered by institutions vary but the maximum award at WCC is $3,000 per year. Interest accrual and repayment does not begin until 9 months after the student ceases to be enrolled at least half-time.
The Federal Subsidized Stafford Loan is based on demonstrated financial need and the interest rate is fixed at 6.8%. The funds originate from private lenders (banks) that participate in the Federal Family Educational Loan Program (FFELP) and the interest is subsidized by the Federal government while the student is enrolled at least half-time. The maximum award is based on a student's class standing - $3,500 per year for a first-year student and $4,500 per year for a second-year student. Repayment begins 6 months after the student ceases to be enrolled at least half-time.
The Federal Unsubsidized Stafford Loan has a fixed interest rate of 6.8%. The funds originate from private lenders (banks) that participate in the Federal Family Educational Loan Program (FFELP). The maximum award is based on a student's dependency, status, level of need, and class standing. The maximum amount awarded is $7,500 per year for a first-year student and $8,500 per year for a second-year student. Repayment begins 6 months after the student ceases to be enrolled at least half-time.
The Federal Parent Loan for Undergraduate Students (PLUS) has a fixed interest rate of 8.5% and is made to a parent of dependent undergraduate students. The funds originate from private lenders (banks) that participate in the Federal Family Educational Loan Program (FFELP) and the loan amount is based on the student's cost of attendance minus any aid awarded the student. Repayment by the parent begins 60 days after the funds are disbursed.
Hawaii State Aid Programs
The UH Opportunity Grant is based on financial need and the student must be enrolled at least half-time. Funds are limited.
The State Higher Education Loan (available only within the University of Hawaii System) is a fixed, low-interest rate (5%) student loan for bona fide State of Hawaii residents. The school is the lender for this type of loan program. The amounts offered by institutions vary but the maximum award at WCC is $3,000 per year. Interest accrual and repayment does not begin until 9 months after the student ceases to be enrolled at least half-time. This type of loan has deferment and cancellation benefits.
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