To help reduce the cost of paying for college, SMS Hawaii^® is pleased to offer reduced fees on PLUS loans.

USA Funds^® , with which SMS Hawaii is affiliated, and SMS Hawaii are teaming to subsidize the 1-percent federal default fee that otherwise would be charged to PLUS-loan borrowers.

In addition, SMS Hawaii offers a 0.25 percentage point interest-rate reduction to eligible PLUS borrowers who choose auto-debit for their PLUS-loan payments.

SMS Hawaii can offer these borrower benefits on PLUS loans because it is a nonprofit corporation that is devoted exclusively to serving the higher-education-finance needs of residents of Hawaii and residents of other states who attended college in Hawaii.

As with all of its borrower-benefit programs, SMS Hawaii reserves the right to modify or discontinue this benefit at any time and without notice.