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Hawaiʻi Renewable Learning Fund Student Bill of Rights

Two women walking and talking on a college campus pathway, holding books and smiling. Other students are walking and talking in the background.

The Hawaiʻi Renewable Learning Fund provides zero-interest, no-fee loans to low-income college students to cover their remaining costs of attendance after grants and scholarships. After graduation, if a student earns above $50,000, they pay back their loan through fixed monthly repayments for up to five years. If they earn less than this minimum salary, they may apply for an income-based deferment and have a $0 monthly repayment obligation during the deferment period. All loans repayments are recycled back into the fund to support future students.   

Student Bill of Rights 

1. Right to Transparency

You have the right to see clear, complete, and easy to comprehend terms and costs affiliated with your loan. Accordingly, you will be provided: 

  • Disclosures Containing Loan Terms: All loan terms and costs are detailed in the Application and Solicitation Disclosure, the Approval Disclosure, and the Final Disclosure in accordance with the Truth in Lending Act (Regulation Z). 

2. Right to Open Communication

You have the right to have open access to staff throughout the lifecycle of your loan (from pre-application to full repayment) who can answer your questions and care about your success. 

  • Loan Origination: Student loans will be originated by Richland State Bank, member FDIC through its partner platform Ascent Funding, LLC (“Ascent”). Ascent will communicate with you regarding the status of your loan application. They will disburse your loan to your school. For questions about your loan application, please contact Ascent at hawaii@ascentfunding.com or 877-216-0876. 
  • Loan Servicing: Student loans will be serviced by Launch Servicing, LLC. They will communicate with you regarding all repayment obligations, and you will be responsible for remitting payments and submitting required documentation to Launch. For questions about loan repayment, please contact Launch at AscentFunding@LaunchServicing.com or 877-209-5297.  

3. Right to Student-Centric Financing

You have the right to finance your education in a way that is cost-effective and linked to your career success. Therefore, every Hawaiʻi Renewable Learning Fund loan will have: 

  •  A Loan Amount linked to Funding Gap: You may apply for a loan at the advertised cost of attendance of the educational program, minus any other grants or scholarships received (if applicable).  The cost of attendance will be provided to you by your school.  
  • A Maximum Loan Payment Term: The maximum number of months you will make loan payments is 60 months (5 years) from the end of the grace period. If you repay the full loan amount before 60 months, the repayment obligation will terminate early. 
  • A Payment Cap: You will never be charged more than the face value of the loan. No interest fees are charged, and you are not responsible for any loan fees. 
  • If you withdraw from the training program prior to completion, your loan amount will be adjusted in accordance with the tuition refund policy of your school. 
  • Downside Protection: You will not have a payment due for months in which your income is below the minimum income threshold if you have applied for and been granted a deferment. The minimum income threshold is $50,000.  
  • Deferments may also be granted for the following reasons: 1) on active military duty; 2) have been affected by a natural disaster; 3) have declared bankruptcy; and 4) experiencing extenuating personal hardship. 
  • A Fixed Monthly Payment: If you earn above the minimum income threshold, your monthly payment amounts will be fixed based on your loan size and payment term of 60 months.  
  • A Grace Period: You are not required to make any payments while in school or during the three-month grace period. The grace period begins on the date of graduation, withdrawal, or dismissal from the training program. For example, if you graduate, withdraw, or are dismissed from your training program on May 10, 2025: 
  • Your grace period will begin on May 10, 2025; 
  • Your grace period will end on August 9, 2025;  
  • Your loan payment term will begin on August 10, 2025 .