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The
South
Carolina Teachers Loan Program was established by the State of
South Carolina to encourage talented and qualified students to
enter the teaching profession. The loan
is cancelled by teaching in South Carolina public schools in an
area of critical need. Freshmen and sophomores may borrow
up to $2500/year; juniors and seniors may borrow up to
$5000/year.
In order to
qualify for this loan, a student must be a US Citizen and a
South Carolina resident. Freshmen must also rank in the top 40%
of their high school graduating class and have SAT or ACT scores
equal to or greater than the SC average for the year of
graduation. Continuing students must have a cumulative GPA of
2.75 or better and must have taken and received a satisfactory
score on Praxis I.
For each of
these loan programs, students may have their loan canceled at a
rate of 20% per year of teaching in critical subject areas or
critical geographical locations in South Carolina specified by
the SC Loan Corporation. Students who teach in both a critical
subject area and a critical geographical area may have their
loan canceled at a rate of 33 1/3% per year.
Note:
The teachers programs require recipients to teach in return for
the assistance they received. If you decide not to teach, you
will be responsible for repaying the
entire amount of the loan plus interest, or any amounts
not already cancelled.
Please contact
SC Student
Loan Corporation for more information.
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