LOAN PROCESSING INFORMATION

Loan Application/Process
Once you have completed loan counseling, you may turn in your "Loan Request Form" (Please note: e-mail address on loan request form must be your hawaii.edu address. Our office may correspond with you via e-mail. Please check your e-mail regularly). You may Electronically sign your Master Promissory Note (MPN) with participating lending institutions. If you do not electronically sign your MPN or lender does not have electronic signature, your lender will automatically send you a paper MPN. Please complete MPN and return to your lender as soon as possible to continue processing.

PLUS Loans – Parents are encouraged to apply online (www.1student.org) for a quick approval or denial to their PLUS loan application. If you want to continue with the PLUS Loan, please complete the PLUS Loan request form and return it to Hawaii Community College Financial Aid Office.

After loan funds are received from the lender, any outstanding institutional charges you owe the college will be deducted from your loan funds. Hawaii Community College will generate a residual check for the excess funds after your charges/fees have been paid. The general processing time to generate a check is 14 days. All loan checks will be mailed. It is your responsibility to ensure your address is updated with the Hawaii Community College Admissions and Records Office.

You must be enrolled in the number of credits your award was based on before a student loan check can be disbursed. The Financial Aid Office will verify that you are currently in the specified number of credits and that you have maintained satisfactory academic progress.

ELM Resources – If you received your Hawaii Community College Award Letter over 2 weeks ago you may confirm that your loan has been certified by Hawaii Community College and the amount for which it has been certified.

Consult with NSLDS Student Access to see a detailed history of your loan and Pell Grant history.

National Student Clearinghouse – Loan Locator – Find out the present holder of your loan(s).

Lenders
It is your responsibility to choose a lender. Hawaii Community College cannot choose a lender for any student. We encourage borrowers to select on of the lenders listed below. For previous borrowers, we recommend you stay with the same lender even if they are not on this list. Each lender offers unique features and services to their borrowers, some which may save you money in upfront fees and/or when you enter repayment. Many offer repayment calculators and budget calculators. Check out their Web site, review their materials, and make your choice. If your lender does not participate in electronic signature, your lender will send you a paper MPN, which would delay processing.

Remember, borrowing a student loan is serious responsibility. Please borrow only what you need and if you have any questions, please contact our office either in person, by phone or e-mail (hawloans@hawaii.edu)