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 have been ranked in the top 40% of their high school 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 (2 parts) 1019, ACT 18.

Enrolled undergraduate students, including enrolled freshmen(2nd term of freshman year), must have a cumulative grade point average of at least 2.75 on a 4.0 scale and must have taken and passed the Praxis Core (or Praxis I prior to July 1, 2014). Students with an SAT taken on or after March 5, 2016, earning a total score of 1100 or greater (1650 for 3-part exams taken March 1, 2015-March 4, 2016) or an ACT score of 22 or greater are exempt from the Praxis requirement. Other Praxis exemptions may apply, check with your college's Education Department.

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 or better on a 4.0 scale. 

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

Freshmen and sophomores may borrow up to $2,500 per year.  All other students may borrow up to $7,500 per year, up to a cumulative maximum amount of $27,500.

If the Teachers Loan must be repaid (for example, you do not teach), the interest rate shall equal the Federal Direct/Stafford Loan interest rate charged for unsubsidized loans to undergraduate students plus 2%, not to exceed 8.25%. 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.

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