Mālama Education Loan

Education can be expensive, and full of unexpected expenses. This loan can help meet school-related expenses—from preschool, through grade school, and even post-secondary education.

Some uses of the loan:

  • School tuition (e.g., preschool, trade school, K – 12, college, post graduate)
  • One option to consider to pay for education
  • Not only pay for college tuition, but also campus charges, books, etc.
  • An option to consider to pay for education

Amount:

$2,500 – $20,000

Rates & Terms

  • 5.00% – 6.00% APR
  • Up to a seven-year term

Eligibility

  • U.S. Citizen
  • State of Hawai‘i Resident
  • Applicant must be of Native Hawaiian ancestry
  • At least 18 years of age
  • Credit score 600 or higher
  • Income-to-debt ratio is no more than 45%

Required Documents

  • Proof of Hawaiian ancestry: verified by current  OHA Hawaiian Registry card
  • Proof of Hawaii residency: driver’s license or State ID, State tax returns
  • Tuition and expenses/fees breakdown (usually for school)
  • Acceptance letter
  • Two years most recent federal tax returns with all schedules
  • One month current consecutive pay stubs and 2 years most recent W-2(s)

Apply

Applying for a loan is as easy as 1, 2, 3:

  1. Create a secure user account.
  2. Gather your documents.
  3. Complete the online application.

The process typically takes 20-25 minutes. Once you complete the application, a lending associate will contact you within two business days. Once an application has been approved, documents can be signed and funds disbursed usually within five to eight business days.

Prior to signing the application and submitting, you will have the option to upload the required documents. Please be aware that all documents must be submitted in order for the Loan Officer to process the application.

Apply Now

 

For more information, please contact us at (808) 594-1888, NHRLF@ohaloanfund.org, or contact your OHA neighbor island office.