South Carolina Educator Loan Programs

These programs provide loan assistance to qualified students in education. Recipients must be South Carolina residents.

South Carolina Teacher Loan Program

The South Carolina Teacher Loan Program was established by the State of South Carolina through the Education Improvement Act of 1984 to entice talented and qualified students into the teaching profession.

How to Cancel Your South Carolina Teacher Loan Debt

This loan is canceled by teaching in South Carolina public schools in an area of critical need.

• The loan is canceled at the rate of 20 percent or $3,000, whichever is greater, for each full year of teaching in a critical subject or critical geographic area within South Carolina. If you teach in both a critical subject and a critical geographic area, your loan will be canceled at the rate of 33.33 percent or $5,000, whichever is greater, for each year of full-time teaching.
• The subject areas deemed critical at the time you apply or while you are in school will be honored for cancellation when you begin teaching.
• A critical geographic area must be deemed critical at the time of your employment.
• If you decide not to teach, the interest rate will be the interest rate charged on Stafford Loans plus 2 percent. This variable rate is capped at 10.25 percent.

For more information regarding cancellation benefits and current critical geographical and subject needs, visit the South Carolina Student Loan Corporation.

Note: Because of limited funding, meeting all criteria and deadlines does not mean you will be accepted into the Teacher Loan Program.

Eligibility Requirements

• Must be a United States citizen.
• Must be a resident of South Carolina.
• Must be enrolled in good standing at an accredited institution on at least half-time basis.
• Must be enrolled in a program of teacher education or have expressed an intent to enroll in such a program.
• Entering first-year students must have been ranked in the top 40 percent of their high school graduating class and have a SAT or ACT score equal to or greater than the South Carolina average for the year of graduation from high school or the most recent year for which such figures are available.
• Enrolled undergraduate students, including enrolled first-year students, must have taken and passed the South Carolina Education Entrance Exam (EEE) and have a cumulative grade point average of at least 2.75 on a 4.0 scale.
• Entering graduate students must have at least a 75 grade point average on a 4.0 scale. Graduate students who have completed at least one term must have a grade point average of 3.5 on a 4.0 scale or better.
• Must be seeking initial certification in a critical subject area if you already hold a teaching certificate.

Loan Amounts

First-year students and sophomores can borrow up to $2,500 per year.
Juniors, seniors and graduate students can borrow up to $5,000 per year.