HILO — University of Hawaii at Hilo students could receive more financial aid next year than ever before.
The campus predicts awarding close to $50 million in aid for the 2017-18 school year, up from $43.1 million in 2016, $42.4 million the year prior and about $46 million in 2014.
In 2006, UH-Hilo awarded just $12.37 million in student aid.
The $50 million is projected based on how much has already been awarded — $34.6 million in its first round of aid distribution, said Farrah-Marie Gomes, UH-Hilo vice chancellor for Student Affairs.
“(The increase) is to keep pace with the cost of attendance,” Gomes said. “The cost of attendance is factored into the formula when we give aid. So as (the cost) goes up, we like to make sure aid can keep up with that. One of our main priorities is to provide access regardless of a student’s ability to pay.”
Of last year’s $43.1 million, $34.57 million came from state and federal grants and loans, Gomes said. Another $4.44 million was generated by tuition revenue and allocated based on need. About $2.18 million was generated by tuition revenue and allocated as merit-based aid.
About $1.4 million came from private scholarships. The campus wants to increase that number in the future, Gomes said. Current major scholarship donors include Kamehameha Schools, the University of Hawaii Foundation and Hawaii Community College, she said.
A full-time resident student can expect to pay around $8,674 next year to attend UH-Hilo, a cost that includes tuition, fees and books. Tuition alone will be $7,200 for that student, and it will increase by $72 in 2018-19. In previous years, annual tuition hikes have ranged from about 4 percent to more than 7 percent.
Those numbers might create “sticker shock,” but Gomes said she wants more prospective students to be aware of available aid because it can cover most — if not all — of the cost to attend.
For example, a student who qualifies for federal Pell Grants — awarded to economically disadvantaged students — could receive up to $5,920 next year. Those same students often qualify for the campus’ own $4,000 Opportunity grant “which (covers) more than the estimated direct costs,” Gomes said.
“The message is, there are certainly opportunities to help fund education,” she said. “We can help, and we encourage students to reach out to us. Completing the (Free Application for Federal Student Aid) is a must — oftentimes we can award more aid than students are aware of once we receive the results of the FAFSA. That’s how important it is.”
Email Kirsten Johnson at kjohnson@hawaiitribune-herald.com.