State Loans

SC Teachers Loan Program

The South Carolina Teachers Loan is administered by the South Carolina Student Loan Corporation in Columbia, SC. This loan program is for students who are residents of South Carolina who wish to teach in this state.

The Teachers Loan may be canceled (forgiven) through teaching a critical subject or through teaching in critical needs geographic location. Critical needs areas are determined by the State Board of Education. The loan is canceled at the rate of 20% each year for teachers in one critical area (subject or geographic), and at the rate of 33.3% each year for teachers who teach in both a critical subject AND geographic area.

Entering freshmen must rank in the top 40% of their graduating class and have a SAT or ACT score equal to or greater than the SC average for the year of graduation (currently these scores are SAT-978 (math, verbal), SAT-1445 (math, verbal, writing), ACT 19.7).

Enrolled undergraduate students, including enrolled freshmen (2nd term of freshman year), must have a cumulative GPA of at least 2.75 on a 4.0 scale and must have taken and passed the Praxis I Exam. Students with an SAT score of 1100 or greater (1650 for exams taken on or after March 1, 2005) or an ACT score of 24 or greater are exempt from the Praxis I requirement. Information and registration forms for this exam are available from the School of Education at Lander University, which is located on the second floor of the Learning Center.

Entering graduate students must have at least a 2.75 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.

Also, applicants must be seeking initial certification in a critical subject area if previously certified to teach.

Freshman and Sophomore students are limited to $2500 per year, while Juniors, Seniors, and Graduate students are limited to $5000 per year.

If the Teachers Loan must be repaid (for example, you do not teach), the interest rate shall be the rate on the Federal Stafford Loan plus 2% (currently 8.8%). Failure to teach in a critical area will require repayment of the full amount borrowed plus accrued interest. Repayment begins six months after the student is no longer enrolled at least half-time (6 hours a semester), and can take up to ten years.

Applications are available from either the SC Student Loan Corporation (1-800-347-2752 or 803-798-0916) or from the Financial Aid Office. Funds in the Teachers Loan are limited, and there are very specific eligibility criteria. To find the SC Teacher Loan application online, please click here.

Whichever method you choose, you must complete the application and return it to Ms. Champion of the Education Department, not the Financial Aid Office. The Education Department will return your completed application to our office.