§304A-601 State higher education loans; eligibility; amounts. Eligibility for loans from the state higher education loan fund established under section [304A-2160] shall be limited to students at the University of Hawaii or the community colleges of the State who have been residents of the State for at least one year and are enrolled at least half-time in a program that culminates in the award of a degree. The amount to be loaned to a student shall be determined by the board of regents based on need for financial aid, academic promise, and deportment. The maximum amount of loans that a student may receive under the state higher education loan fund shall be an aggregate amount equivalent to those amounts established for the Perkins Loan Program (formerly known as the "National Direct Student Loan Program") authorized under Title IV, Part E, of the Higher Education Act of 1965, as amended. [L 2006, c 75, pt of §2]