Interest begins accruing upon disbursement of the funds. Deferments are available. This loan program is available to Hawai' i residents. Awards are based on demonstrated financial need and availability of funds. Repayment begins nine months after the student ceases to be enrolled on at least a half-time basis.
Deferments are available.
In most instances a student's gift aid will not cover the full amount of need. In such cases a student may request alternate options such as a loan to cover unmet need. Students who take out any form of student loan must attend a loan entrance interview when accepting the loan, and a loan exit interview when leaving MCC or when enrollment drops below half-time. Financial aid recipients must notify the Financial Aid Office if they receive any outside aid, as these monies are considered part of the student's available resources and will affect the amount of aid the student is eligible to receive. The student always makes the final decision to accept or decline any part of the financial aid award package offered.