University of South Carolina

Financial Aid & Scholarships

South Carolina Teacher's Loan Program

The South Carolina Teacher's Loan Program was established to encourage state resident students to teach in areas of great need.

To be eligible for the program, you must:

  • Complete an application and sign a promissory note.
  • Be a citizen or permanent resident of the United States.
  • Be a resident of South Carolina.
  • Be enrolled in and making satisfactory academic progress at an accredited institution on at least a half-time basis.
  • Be enrolled in a program of teacher education or have expressed an intent to enroll in such a program.
  • Entering freshmen must rank in the top 40% of their high school graduating class and have an SAT or ACT score equal to or greater than the South Carolina average for the year of high school graduation.
  • 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 I Exam. Students with an SAT score of 1100 or greater (1650 or greater for exams taken on or after March 1, 2005) or an ACT score of 24 or greater are exempt from the Praxis I requirement.
  • 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.
  • Be seeking initial certification in a critical subject area if previously certified to teach.

Freshmen and sophomores may borrow up to $2,500. Junior, seniors, and graduate students may borrow up to $5,000. The aggregate maximum is $20,000 for undergraduate and graduate students.

The loan is forgiven at the rate of 20% (or $3,000, whichever is greater) for each full year of teaching in a South Carolina public school in a critical subject or critical geographic area. If you teach in a public South Carolina school in both critical subject and critical geographic areas, your loan will be forgiven at the rate of 33 1/3% (or $5,000, whichever is greater) for each year of full time teaching. If you have not been teaching for the full academic year, you must have taught a minimum of 76 days to be considered for forgiveness.

The subject areas which are critical at the time you apply, or later, will be honored for forgiveness when you begin teaching. A critical geographic area must be officially critical at the time of your employment.

If you do not teach, repayment will begin six months after you graduate or cease to be enrolled at least half time. The interest rate will equal the maximum interest rate on the Federal Direct Student Loan plus 2%.

For more information about how to apply, click here.