Student Loans

Financing a quality education can be quite an undertaking for any family. That's why we offer a number of bank and government financing plans to help bring the cost of an education within reach.

Student Loan Type

 

Unsubsidized Federal Stafford Loan

Subsidized Federal Stafford Loan
Description/Eligibility A federal loan available to undergraduate and graduate students who are enrolled at least half-time and who do not meet the financial-need criteria to qualify in whole or in part for a subsidized Federal Stafford Loan. You are responsible for paying the interest that accumulates while you are in school; however you may choose to have the interest added to your principal balance. A federal loan available to undergraduate and graduate students who are enrolled at least half-time and who meet certain financial-need criteria. The federal government pays the interest while you are in school or during periods when you qualify for a loan payment deferment.
When does repayment begin? Repayment of principal and interest begins 6 months after you cease to be enrolled at least half-time.

The repayment period generally lasts at least 5 years but no more than 10 years with a minimum monthly payment of $50.		 Interest begins to accrue on the day the loan is fully disbursed. While you are enrolled, you may postpone interest payments by adding the accumulated interest to your outstanding loan balance.

Repayment of principal balance begins 6 months after you cease to be enrolled at least half-time.

How Much Can You Borrow in Stafford Loans?
  Loan Type
Dependent Students Annual Loan Limits Subsidized Unsubsidized
First Year

$5,500

$3,500

$2,000
Second Year

$6,500

$4,500

$2,000
Third Year + Beyond

$7,500

$5,500

$2,000
Independent Students Annual Loan Limits Subsidized Unsubsidized
First Year

$9,500

$3,500

$6,000
Second Year

$10,500

$4,500

$6,000
Third Year + Beyond

$12,500

$5,500

$7,000
Graduate or Professional Students

$20,500

$8,500

$12,000

Lifetime Limits
Student Status

Lifetime Loan Limits

Subsidized Federal Stafford Loan

Unsubsidized Stafford Loan
Undergraduate Dependent

$31,000

$23,000

$8,000
Undergraduate Independent

$57,500
Graduate or Professional Student

$138,500*

$65,000

$73,500

Calculate College Costs

* Higher Limits may apply to certain health professions students.

Stafford Loan Interest Rates
Note: Graduate Stafford Loans (both subsidized and unsubsidized) have a fixed interest rate of 6.8% through 2013.
Academic Year Subsidized Rates Unsubsidized/Graduate Rates
2008-09 6.00% 6.80%

2009-10

5.60%

6.80%

2010-11

4.50%

6.80%

2011-12

3.40%

6.80%

2012-13

6.80%

6.80%
Current Stafford Loan interest rates in effect from 07/01/2009 to 06/30/2010

Parent Loans
Federal PLUS Loan Home Equity FirstLine of Credit Personal FirstLine Lock PayAnyDay Personal Loan
Description/Eligibility This loan is available without regard to financial need and may cover the full cost-of-education, less other forms of financial aid. Available to the natural or adoptive parent(s) or legal guardian(s) of an eligible dependent student. Also available to graduate and professional students. A line of credit secured by the equity in your home. An unsecured line of credit without having to own a home or tap the equity in your home. A loan with equal monthly payments for the term of the loan, with no collateral required.
How Much Can You Borrow? Up to the cost-of-education less other financial aid (for example, if tuition is $20,000, and your child receives $2,500 in other aid, you may be eligible to borrow up to $17,500). $10,000 to $250,000* $2,500 to $25,000* $2,500 to $25,000*
When Does Repayment Begin Parent borrowers may defer repayment for up to 60 days after their child ceases to be enrolled at least half time. Payment begins within 45 days of drawing on the line. Payment begins within 45 days of drawing on the line. Payment begins within 45 days of the loan disbursement.
RATES

8.50%

See current rates

See current rates

See current rates

Calculate College Costs

* Subject to credit approval by First Hawaiian Bank. Higher loan/line amounts may be available.

  • To Apply for Stafford PLUS Loans:
  • Obtain a Free Application for Federal Student Aid (FAFSA) from the college of your choice or logon to www.fafsa.ed.gov to apply online.
  • Complete and return the FAFSA as instructed.
  • The college -- not the bank -- will determine the amount and type of financial aid you qualify for. The college will then send you an "awards" letter.
  • Refer the "awards" letter to your school's financial aid officer and apply through the school.
  • Complete and return the application as instructed.
  • The college will process your application and forward it for financing to your selected financial institution. The loan funds will be disbursed to the college.
Related Links:
First Checking
Student Banking