Hawaii Community Federal Credit Union Student Loan Review 2020: Fund your Studies

Hawaii Community Federal Credit Union can provide its members, or those eligible to join, with Line of Credit loans to undergraduate students. Such loans can provide a huge financial boost to many, allowing them to take their education to the next level, and further their career and earning potential.

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    Why Get a Student Loan from Hawaii Community Federal Credit Union?

    For those eligible for a student loan through this provider, there could be some benefits, especially for Hawaiian residents. There are six universities in the state that accept these funds. However, it can also be used for over 1000 universities across the U.S.A. It’s also

    What Student Loans does Hawaii Community Federal Credit Union offer?

    Disappointingly, this Credit Union provides just one type of student loan. 

    Before considering applying for a loan with this organization, it’s definitely worth checking out some competing lenders, because it’s more than likely that your ideal student loan type is on offer somewhere else. Even for graduates, there’s nothing available.

    Line of Credit Undergraduate Loans

    The aim of this loan is to supply the finance that hasn’t been met by any cheaper options, like grants, federal loans, scholarships, and more.

    • You don’t need to be certain which college you’ll attend - Apply first, finalize later
    • You don’t need to be certain how much income you’ll need - Apply first, finalize later
    • You may only need to borrow money once, for the duration of enrollment
    • The funds will always be sent directly to your place of education - whether for tuition, accommodation, or any other fees
    • Only available to members

    Loan amounts

    $1,000 - $75,000


    6% - 15% 


    Up to 25 years

    Origination fee


    Prepayment fee


    Repayment Options

    • Immediate Payment

    Start paying both the principal and interest amounts right away. The monthly cost will be the highest, but it’s the cheapest option in the long term.

    • Interest Only Payment

    The second cheapest option, which only requires paying interest until after graduation. This could be great if you expect your income to increase in the years after graduation.

    • Deferment

    Put off payment until you graduate. Interest will build up during this time, so it’s the most expensive option in the long term.

    Who Can Become a Member?

    In order to be accepted for a student loan, applicants don’t need to be a current member, but before any loan agreement can be finalized, it’s necessary to join the Union.

    1. Anyone living, working, or studying on Hawaii island, and their immediate family members
    2. In some circumstances, those living in the same residence as a member, even if it’s not in Hawaii. This could be a domestic partner, foster child, or legal guardian

    Pros and Cons


    • Can be used for many universities
    • No minimum credit score required


    • Only one student loan available


    Some undergraduates might find this loan useful, but overall, the student loan services offered by this Union are incredibly limited. Why not check out Ascent, instead? It’s more expansive service offers six different student loans, some of which don’t require any credit history score to apply.