HB373 Summary

• Establishes a first-generation matching grant program administered by the University of Hawaii to incentivize private donors to contribute to grant-based financial aid for undergraduate students with financial need whose parents lack a baccalaureate or higher degree.

• State appropriations shall match private contributions on a dollar-for-dollar basis, with private contributions eligible only for this program and ineligible for other state matching grant programs.

• Eligible applicants must be Hawaii residents for tuition purposes, enrolled full-time as degree-seeking undergraduates (minimum 6 credit hours per term), submit a federal student aid application, and meet additional university-established requirements.

• Award amounts are based on remaining financial need after accounting for all other grants and scholarships, with priority given to students receiving federal Pell Grant funds, capped at the university's estimated annual cost of attendance.

• Program funds are deposited into the University of Hawaii scholarship and assistance special fund and maintained in a separate account; the university must report all awards annually, with implementation effective July 1, 2050.