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Financial Aid Award Description

 

 

 

 

Your financial aid award is determined by taking the Cost of Attendance minus Expected Family Contribution (EFC) = Financial Need.

Cost of Attendance - Expected Family Contribution (EFC) = Financial Need

 

When your need is determined, a financial aid award package is prepared from the programs that are available. What is awarded depends on the program guidelines, your financial need, and the funds that are available for each program.

 

The cost of attendance budget* is composed of:

  • Tuition
  • Fees
  • Room & Board
  • Books & Supplies
  • Transportation
  • Personal Expenses

The expected family contribution (EFC) is calculated by the U.S. Department of Education according to a formula established by the Federal Government. The information you submit on the FAFSA is what is used to determine your EFC. The EFC is not an amount that you are expected to pay to the college; it is a measure of your ability to pay and is used in determining financial need.

An outside resource is any aid that is received from external/private scholarships, grants, and other benefits that is used for educational expenses.

The unmet need is the financial need that is not met after a financial aid award package is created, including any outside resources that are reported.

The budget varies depending on residency, living status and enrollment**.

For Example,

for the 2019-2020 academic year, a full-time (12+ credits) student budget is:

Please Note: The example below is for illustration purpose only. actual tuition, fees, budget, etc. will vary

On-Campus

Resident

Non-Resident

Pacific Islander

Tuition

$3,144 ($131 per credit)

$8,280 ($345 per credit)

$4,716 ($196.50 per credit)

Fees

$60

$60

$60

Books & Supplies

$1,058

$1,058

$1,058

Meals & Housing

$9,978

$9,978

$9,978

Personal Expenses

$3,124

$3,124

$3,124

Transportation

$2,964

$2,964

$2,964

Total Cost of Attendance

$20,328

$25,464

$21,900

 

Off-Campus

Resident

Non-Resident

Pacific Islander

Tuition

$3,144 ($131 per credit)

$8,280 ($345 per credit)

$4,716 ($196.50 per credit)

Fees

$60

$60

$60

Books & Supplies

$1,058

$1,058

$1,058

Meals & Housing

$15,302

$15,302

$15,302

Personal Expenses

$3,298

$3,298

$3,298

Transportation

$3,490

$3,490

$3490

Total Cost of Attendance

$26,352

$31,488

$27,924

 

With Parents/Relatives

Resident

Non-Resident

Pacific Islander

Tuition

$3,144 ($131 per credit)

$8,280 ($345 per credit)

$4,716 ($196.50 per credit)

Fees

$60

$60

$60

Books & Supplies

$1,058

$1,058

$1,058

Meals & Housing

$4,968

$4,968

$4,968

Personal Expenses

$2,850

$2,850

$2,850

Transportation

$2,912

$2,912

$2,912

Total Cost of Attendance

$14,992

$20,128

$16,564

 

FEDERAL Loan and Work Study Options (Based on an Academic Year)

Federal Work Study

$4,500

 

Dependent Student

Federal Subsidized Loan

Federal Unsubsidized Loan

First-Year

$3,500

$2,000

Second-Year

$4,500

$2,000

Independent Student

Federal Subsidized Loan

Federal Unsubsidized Loan

First-Year

$3,500

$6,000

Second-Year

$4,500

$6,000

At Hawaii Community College, federal student loans are not automatically awarded. A student will need to turn in a loan request form which may be found on our web site, http://hawaii.hawaii.edu/financialaid/loans. NOTE: Any borrower who has 0-24 credits earned at Hawaii Community College and/or who has never received a Federal Student loan will have a 30-day delay in the disbursement of funds as required by the Department of Education. Also, any loan certified for one semester is required to have two (2) disbursements in the semester.

Federal student loans need to be paid back. Here is an example of the estimated amount you will owe after graduating from a 2-year program:

Estimated Loan Payments (2-Year Programs)

Estimated total federal loan debt

$20,000

Estimated monthly payment

$230/month

Private loans have different criteria than the Federal Subsidized and Unsubsidized. Please contact the private lenders for more information.

 

Here is an example of a student’s award for the 2019 - 2020 academic year based on a resident living off-campus, with an Expected Family Contribution (EFC) of zero, and enolled at full-time:

Please Note: The example below is for illustration purpose only. actual tuition, fees, budget, etc. will vary

Financial Aid Award

Fall 2019

Spring 2020

Federal Pell Grant

$6,195

$3,098

$3,097

SEOG

$500

$250

$250

HawaiiCC Opportunity Grant

$1,500

$750

$750

 

Cost of Attendance

$26,352

 

 

- EFC

- 0

 

 

= Financial Need

= $26,352

 

 

- Financial Aid Offered

- $8,195

 

 

- Outside Resources (ex. external scholarships)

- $1,500

 

 

= Unmet Need

= $16,657

 

 

NOTE: The initial awards are based on full-time enrollment. If a student plans to attend ¾ or ½ time, then the award will be adjusted.

* The cost of attendance is only an ESTIMATION of what it will cost to attend Hawaii Community College. It is not guaranteed that you will receive financial aid up to the total cost of attendance.

** Some aid programs require you to be registered in a certain amount of credits, and dropping a class will result in your awards being revised.