The financial aid programs of the University of South Carolina Salkehatchie make it possible for many students to attend the University who could not do so if left entirely to their own resources. Scholarships, grants, loans and part-time employment are available to qualified undergraduate students.

Eligibility for most types of aid except academic scholarships depends on the applicant's financial circumstances. The University uses the Free Application for Federal Student Aid (FAFSA) to determine the amount of assistance each applicant is eligible to receive. We recommend that you complete the FAFSA via the Web at www.fafsa.ed.gov; however, paper applications may still be obtained from most high-school guidance offices or our Office of Student Financial Aid and Scholarships.

Financial aid funds covered by these standards

Federal Pell Grants
Federal Work-Study Program
Federal Supplemental Educational Opportunity Grants
Federal Perkins Loans
Federal Stafford Loans, subsidized and unsubsidized
Federal PLUS
Some select private loans (as determined by the lender)
South Carolina LIFE Scholarship
South Carolina Need-Based Grants
Other federal or state programs as required

Grants

Federal Pell Grant

The Federal Pell Grant is the largest federally funded student financial aid grant program. It serves as the foundation upon which all other undergraduate aid is awarded. Typically, it is available only to undergraduate students who have not earned a baccalaureate degree. Federal Pell Grant eligibility is determined according to federal law and is based on the financial information you and your family provided on your FAFSA.

You are notified of your possible eligibility to receive a Federal Pell Grant via the Student Aid Report (SAR). The financial aid office will receive this information directly from the federal processor and determine the amount of your Federal Pell Grant. You should carefully review the information on your SAR and, if it is correct, keep it for your records. If you discover mistakes, follow the instructions and submit corrections as soon as possible.

If you or your family experiences a major change in your financial situation after your Pell Grant eligibility has been determined, you should notify the financial aid office immediately. A counselor will be able to determine if you qualify for an adjustment of your Pell Grant award and/or other financial aid.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG is a grant that does not need to be repaid. The financial aid office awards USC's limited allocation of FSEOG funds. Recipients must be undergraduates who have not already earned a baccalaureate degree and who demonstrate exceptional financial need. FSEOG recipients must be eligible to receive a Pell Grant and have the lowest EFC's from among those students being considered for an award.

Scholarships for Disadvantaged Students (SDS)

The SDS program provides scholarship grants to full-time medical and certain other health professions’ students. You must demonstrate exceptional financial need and come from a disadvantaged educational or economic background. No repayment is required, and receipt of this award does not require a service commitment. The amount of the award varies depending upon available funding and the number of eligible applicants.

You must have submitted parental data on the FAFSA in order to be considered for this program.

State Need-Based Grant Program (SNBG)

The South Carolina Need-Based Grant is a state-funded grant for undergraduates attending public and independent colleges and universities within South Carolina. Recipients may not have already earned a baccalaureate degree. To be considered, you must be a South Carolina resident, be admitted or currently enrolled with a minimum GPA of 2.00, complete the FAFSA, demonstrate financial need, be of good moral character, and have no felony and/or alcohol or drug convictions for a period of one year. Additionally, to renew a state grant award, you must maintain an annual 2.00 GPA and complete 24 semester hours during the fall and spring semesters. Awards are made for the entire academic year (fall and spring semesters) only. The State Need-Based Grant does not need to be repaid.

South Carolina Legislative Incentives for Future Excellence Scholarship

The South Carolina Legislative Incentives for Future Excellence Scholarship (LIFE) was established by the General Assembly during the 1998 legislative session. To be eligible for a LIFE Scholarship, you must have graduated from a high school located in South Carolina on or after May 1995 and be a full-time, undergraduate, degree-seeking student. You must enroll at an eligible institution within two years and three months of high-school graduation. You must be a South Carolina resident for in-state tuition purposes at the time of enrollment and have no felony, alcohol, or drug convictions. If, however, you have been judged delinquent or have been convicted or pled guilty or nolo contendere to an alcohol or drug misdemeanor, you are ineligible for one calendar year from the date of the conviction. You must also be a U.S. citizen or a permanent resident under state laws. You may not be in default or owe a refund on any federal or state financial aid program.

If you are a first-time entering freshman, you must have graduated from high school with a minimum 3.00 cumulative grade point average (GPA) on a 4.00 scale. Further, you must have received a score of at least 1050 on the SAT or 22 on the ACT.

For initial LIFE Scholarship eligibility, if a currently enrolled student, you must have earned a cumulative 3.00 USC GPA at the end of the academic year. You must also have earned a minimum of 30 credit hours, or the annual equivalent at all institutions attended, for the previous academic year if completing your first year; 60 credit hours must have been earned if completing your second year; and, 90 credit hours must have been earned if completing your third year.

You may receive the LIFE scholarship for not more than eight semesters for a four-year degree or 10 semesters for a five-year degree. Funds from this program may not be used for remedial courses or continuing education classes. If you are receiving South Carolina's Palmetto Fellows Scholarship, you are not eligible for a LIFE Scholarship.

To retain the LIFE Scholarship you must earn an average of 30 credit hours for each academic year and earn a 3.00 cumulative USC GPA by the end of the academic year. The financial aid office, using data from the admissions and records offices, is responsible for awarding LIFE Scholarships.

Please note that the LIFE Scholarship statutes and regulations are subject to change by the South Carolina Legislature.

Federal Stafford Loan--Subsidized

The subsidized Stafford Loan Program provides long-term, low-interest, need-based loans to undergraduate, graduate, and professional students. The interest rate is variable and set at 3.1 percentage points above the 91-day Treasury bill rate with an 8.25 percent cap. The interest rate on subsidized Federal Stafford Loans made prior to July 1, 1994, will vary according to the dates on which the loans were disbursed and/or the borrower's outstanding federal loan indebtedness. The interest rate during repayment will be different. These rates are subject to change by law.

Subsidized Federal Stafford Loans may be requested from a variety of lenders with a loan guaranty from any authorized guarantee agency. As an undergraduate, you may borrow up to $2,625 for the first year of study, $3,500 for the second year, and $5,500 per year for subsequent undergraduate study, not to exceed a maximum of $23,000. As a graduate or professional student, you may borrow up to $8,500 per year not to exceed $65,500, including any amount borrowed as an undergraduate. If you receive a subsidized Stafford Loan, you will not be required to begin repayment until six months after you cease to be enrolled on at least a half-time basis.

Some students will receive a promissory note which must signed, completed, and returned to your lender before any loan funds will be disbursed. If, however, you signed a Master Promissory Note for the 2002-2003 academic year, it may also be used for all future Stafford Loans you may borrow while attending USC. You will no longer need to sign a promissory note each year you apply for and receive a Stafford Loan.

Federal regulations require that we limit or reduce the amount of a Stafford Loan under certain prescribed conditions. These conditions are as follows: 1) You are an undergraduate and you apply for a Stafford loan and are enrolled less than a full academic year (fall and spring semesters); or 2) you will complete all degree requirements at the end of the semester or term. If either of these conditions occur, the Stafford Loan amount may be reduced. The financial aid office will make this adjustment and send you a revised award letter.

We are required to disburse your loan in installments to coincide with the beginning of the enrollment period covered by the loan. Additionally, if after the time your Federal Stafford Loan (subsidized or unsubsidized) was certified, you receive any type of other financial assistance, or your tuition fee structure changes, your eligibility for the Stafford Loan may be reduced. In some cases, you may be required to repay amounts in excess of your eligibility.

Federal Stafford Loan--Unsubsidized

The unsubsidized Federal Stafford Loan program is similar to the subsidized Stafford Loan except that eligibility is not based on financial need and interest payments are not subsidized by the federal government, but rather are the responsibility of the borrower.

If you are a dependent student, your annual unsubsidized and subsidized Stafford Loan totals combined cannot exceed the totals previously noted for a subsidized Stafford Loan. As an independent student, you have additional unsubsidized eligibility of $4,000 per year for the first and second years of study and $5,000 per year for subsequent undergraduate study. As a graduate or professional degree student, you have an additional $10,000 per year in unsubsidized eligibility, and your career maximum increases to a total of $73,500, including any amounts borrowed as an undergraduate. Medical students and graduate students in public health and clinical psychology may be eligible for additional unsubsidized loan limits. The interest rate is the same as the subsidized Stafford Loan; however, interest begins to accrue at the time the lender makes the loan and is not automatically deferred. You may choose to pay the interest or request that it be deferred. This results in the deferred interest being capitalized and creating a greater expense to you during repayment.

Some students will receive a promissory note, which must be completed, signed and returned to your lender before any loan funds will be disbursed. If, however, you signed a Master Promissory Note for the 2002-2003 academic year,

it may also be used for all future Stafford Loans you may borrow while attending USC. You will no longer need to sign a promissory note each year you apply for and receive a Stafford Loan.

Federal regulations require that we limit or reduce the amount of a Stafford Loan (subsidized and unsubsidized) under certain prescribed conditions. These conditions are as follows: (1) You are an undergraduate and you apply for a Stafford loan and are enrolled less than a full academic year (fall and spring semesters); or (2) you will complete all degree requirements at the end of the semester or term. If either of these conditions occur, the Stafford Loan amount may be reduced. The financial aid office will make this adjustment and send you a revised award letter.

We are required to disburse your loan in installments to coincide with the beginning of the enrollment period covered by the loan. Additionally, if after the time your Federal Stafford Loan, (subsidized or unsubsidized) was certified, you receive any type of other financial assistance, or your tuition fee structure changes, your eligibility for the Stafford Loan may be reduced. In some cases, you may be required to repay amounts in excess of your eligibility.

Federal PLUS

The PLUS loan is a non-need-based educational loan program that allows parents to borrow funds for full-time dependent students. Parents may borrow up to the cost of education less any other financial assistance received during the loan period. For loans disbursed on or after July 1, 1998, the interest rate is variable, based upon the bond equivalent rate of the 91-day T-bill, plus 3.1 percent. The variable rate is capped at 9 percent. Previous PLUS loans may have a different interest rate depending upon when the loan was first disbursed. Repayment begins within 60 days after the loan is made. The repayment period can be extended up to 10 years with minimum monthly payments to be arranged with the lender.

PLUS loan checks are mailed directly from the lender to the school. The Business Office handles all PLUS loan checks. Questions regarding the handling of these checks should be directed to that office. Parents/students are advised to exhaust their eligibility for other federal student aid programs before considering the PLUS loan.

South Carolina Teacher Loan Program

This program is available only to residents of South Carolina who are attending college for the purpose of becoming certified teachers employed in the state's school system in areas of critical need as defined by the State Board of Education. For loan recipients who become certified and teach in an area of critical need, the loan shall be cancelled at the rate of 20 percent for each full year of teaching, up to 100 percent. Loan recipients who do not become certified and/or do not teach in an area of critical need shall be responsible for repaying the entire amount of loan funds borrowed plus interest. Contact the Financial Aid Office for application information and deadlines.

Federal Perkins Loan

The Perkins Loan Program is a low-interest (5 percent), long-term educational loan program available to both undergraduate and graduate students demonstrating exceptional financial need. This is a loan and must be repaid. Undergraduates may borrow up to $4,000 for each year of study and up to $20,000 to complete an undergraduate degree. Graduate students may receive up to $6,000 for each year of study not to exceed $40,000 for all years of study including undergraduate amounts received. Interest is not charged and repayment does not begin until nine months after your enrollment drops below half-time status. If you receive your first Perkins Loan on or after October 1, 1992, your minimum payment will be $40 per month. In all cases, repayment may extend up to 10 years depending upon the total amount borrowed. If you have outstanding National Direct Student Loan (NDSL) balances and you are receiving a Federal Perkins Loan now, you must review your NDSL Promissory Note to determine the terms and conditions that apply to your loan. Under certain conditions of reenrollment, employment, or extenuating circumstances, payments may be deferred or cancelled. Further information concerning repayment is available in the Financial Aid Office.

Work Opportunities

Federal Work-Study Program. The Federal Work-Study Program provides part-time employment for needy students to meet their educational expenses. To be eligible for employment under this federal program, a student must be enrolled in the University or fully accepted for admission and demonstrate financial need.

Students who are enrolled at least half-time work an average of 15 to 20 hours per week. During vacation periods it is sometimes possible to work up to 40 hours per week. Pay rates vary with the job assignment.

The official University policy and procedure concerning refunding of University tuition and fees which result from withdrawal or reduction in hours is contained in the "Expenses" section of this bulletin. Students who withdraw or reduce hours may be eligible to receive a refund as provided by the official University policy; however, recipients of financial aid generally do not receive the refund.

When students who are recipients of federal financial aid withdraw from all classes, they are only entitled to retain a percentage of the federal financial aid received that is proportional to the time they remained enrolled. If, for example, a student withdraws after completing 30 percent of the semester or summer term, they can only retain 30 percent of the federal financial aid they received. The balance, 70 percent, must be returned to the financial aid programs. The Office of the Bursar performs this calculation and students are notified by mail of the outcome.

When funds are applied back to the federal financial aid programs, loan funds are always returned first, thereby reducing the student's repayment obligation. If funds remain after repaying federal loans, they are then repaid to the Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG) programs. After all federal funds are repaid, state-sponsored grant programs then receive any remaining payments.

Bamberg County Scholarship. A scholarship to be awarded to a resident of Bamberg County on the basis of academic achievement.

David and Brenda Barnes Endowed Scholarship. Awarded to a student with financial need. Awarded to a student who is a resident of one of the five counties in Salkehatchie’s service area with preference to Allendale County or Hampton County.

Barnwell High School Scholarship. A full-tuition scholarship awarded to a graduating senior at Barnwell High School based on academic achievement and financial need. Sponsored by Reid’s of Barnwell.

BB&T Scholarship. A scholarship to be awarded to a resident of Hampton County on the basis of academic achievement.

Boylston Prize. A scholarship awarded to a student from one of the five counties in the Salkehatchie service area.

Clarence and Virginia Brabham Memorial Endowed Scholarship. A full-tuition scholarship to be awarded to a Bamberg County resident who has financial need and academic promise.

David and Maggie Cannon Scholarship. A scholarship awarded for academic achievement to a student from Barnwell County.