Other Loans

Federal Perkins Loan

The Federal Perkins Loan is awarded to undergraduate and graduate students with financial need. We may offer you a Perkins loan as part of your financial aid package. A school may make a new Perkins Loan to a student after September 20, 2015, if all of the following conditions are met:

  • The school made at least one Perkins Loan disbursement to the student on or before June 30, 2015.
  • The student is enrolled at the same institution where the last Perkins Loan disbursement was received.
  • The student is enrolled in the same academic program for which the student received his or her last Perkins Loan disbursement.
  • The student has been awarded all Direct Subsidized Loan aid for which the student is eligible.

This provision applies only to students who received a Perkins Loan for award years 2014-2015 or earlier. A student who received his or her first Perkins Loan for the 2015-2016 final award year of the program, (e.g., an incoming first-year student) will not be eligible for the Perkins Loan beyond that 2015-2016 award year.

Attributes of the Federal Perkins loan are:

Eligibility: Undergraduate and graduate students.
Demonstrate financial need.
Interest Rate: 5% fixed
Grace Period: 9 months (begins when the student drops below half-time enrollment, leaves school, or graduates)
Promissory Note: A student who has accepted the Perkins Loan will receive an email when the online Perkins Promissory Note is available.  Due to sensitive information, packets will be mailed only upon request. Packets will only be printed after the student has accepted the loan on MyUH.
Repayment: Payments can be made to:
Campus Partners
PO Box 2901
Winston-Salem, NC 27102 *Checks payable to the University of Hawaii
Exit Interview: www.mycampusloan.com
Billing Servicer: Campus Partners: www.mycampusloan.com
Consolidation: This loan can be consolidated with Stafford Loans and Graduate PLUS loans.
Office Address: University of Hawaii
General Accounting & Loan Collection Office
1404 Lower Campus Road, Building 171-H Room 38
Honolulu, HI 96822
http://www.fmo.hawaii.edu/student_loans/index.html

**For detailed information regarding deferment and forbearance options, please contact the General Accounting and Loan Collections Office at (808) 956-8785.

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State Higher Education Loan (SHEL)

The State Higher Education Loan (SHEL) is awarded to Bona Fide Hawaii Resident undergraduate and graduate students with financial need. We may offer you a SHEL loan as part of your financial aid package. The funds available for the SHEL loan is limited, so not all aid applicants can be offered SHEL loans. Must be enrolled at least half-time in an eligible degree-seeking program.

Attributes of the SHEL loan are:

Eligibility: Bona Fide Hawaii Resident.
Undergraduate and graduate students.
Demonstrate financial need.
Interest Rate: 5% fixed
Grace Period: 9 months (begins when the student drops below half-time enrollment, leaves school, or graduates)
Promissory Note: Promissory note packets are to be picked up and completed at Financial Aid Services. Due to sensitive information, packets will be mailed only upon request. Packets will only be printed after the student has accepted the loan on MyUH.
Repayment: Payments can be made to:
Campus Partners
PO Box 2901
Winston-Salem, NC 27102 *Checks payable to the University of Hawaii
Exit Interview: www.mycampusloan.com
Billing Servicer: Campus Partners: www.mycampusloan.com
Consolidation: This loan cannot be consolidated with your federal loans.
Office Address: University of Hawaii
General Accounting & Loan Collection Office
1404 Lower Campus Road, Building 171-H Room 38
Honolulu, HI 96822
http://www.fmo.hawaii.edu/student_loans/index.html

**For detailed information regarding deferment and forbearance options, please contact the General Accounting and Loan Collections Office at (808) 956-8785.

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Private/Alternative Loans

As you pursue your educational goals, we understand that meeting the cost of your education can be a major concern. Once you've exhausted your Federal availability for financial aid, alternative loans are another option to fill in the gap between the offered aid and your total Cost of Attendance.

Alternative Student Loans:

  • Available to students who have received the maximum award amounts under the Federal Family Education Loan Program or met their cost of attendance limit.
  • These loans are sponsored by banks and private lending institutions.
  • The Interest rates and repayment schedules vary.

There are two types of alternative loans:

School Certified
  • You must not have exceeded your cost of attendance.
  • Interest accrues while in-school.
  • Check with your lender for deferment options.
  • To calculate the amount Financial Aid Serivces can certify, use the following:

      Student's Cost of Attendance
      – Financial Aid Awarded
      ___________________________
      = Certifiable Loan Amount
  • Applications must be completed with your lender before Financial Aid Services is able to submit your information to the lender.

Non-School Certified
  • You are able to borrow whatever your credit allocates.
  • These loans tend to have a higher interest rate.
  • May only be offered by a few lending institutions.
  • Interest accrues while in-school.
  • Check with your lender for deferment options.
  • Contact your lender to apply for this type of loan.

NOTE: For detailed information regarding Alternative Student Loans, please contact your lender directly.

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Loan Code of Conduct

University of Hawaiʻi at Mānoa participates in the Federal Direct Lending Program; however, we also offer Alternative Loans through Banks and Lending Institutions for those students and parents who may have additional need for a loan outside of the Direct Loan Program. In keeping with the Higher Education Opportunity Act (HEOA) of 2008 and our Program Participation Agreement we abide by the UHM Student Loan Code of Conduct. Please refer to the information on UHM Loan Code of Conduct in Statement of Policies.


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