Fellows mentioned in this story: Alex Harris

From University of Hawai‘i News:

A new, zero interest, no fee loan program will be available to low income students enrolled in the College of Engineering (COE) at the University of Hawaiʻi at Mānoa beginning in fall 2024. The initiative to help students with proven need while also meeting the state’s workforce demand for engineers is a pilot of the Hawaiʻi Renewable Learning Fund launched by Social Finance. The national nonprofit and registered investment advisor plans to eventually expand to other degree and certificate programs with a record of strong employment outcomes, local employer relationships and experience serving diverse students.

“Many talented students in Hawaiʻi face barriers to degree completion, including limited affordable student financing options and high costs of living,” said Hydie Kim Hudson, Vice President, Impact Investments at Social Finance. “The Hawaiʻi Renewable Learning Fund aims to address these barriers while also helping local employers hire talent for in-demand roles. We’re excited to leverage our experience designing recycling funds across the country to meet the needs of Hawaiʻi’s students and employers.”

COE has partnered with Social Finance along with the Harold K.L. Castle Foundation and other local philanthropic organizations that have contributed $2 million to start the fund. The loans are mainly intended to cover the remaining costs of a student’s education not covered by grants and scholarships.

Continue reading at hawaii.edu.