South Carolina Student Loan Corporation

The South Carolina Student Loan Corporation is a 501(c)3 nonprofit organization established to provide financial assistance to students in South Carolina. Founded in 1973, its mission is to support students in achieving their educational goals and becoming workforce-ready.

History and Mission

For over 40 years, the corporation has been dedicated to promoting higher education opportunities within South Carolina. It aims to be recognized for its educational financial aid advisory services and as a trusted financial aid provider. The organization's purpose is to contribute to a healthy and vibrant workforce by making education accessible.

Programs and Services

The corporation offers a range of financial products and services designed to support students and their families. These include private student loans and parent loans, as well as refinancing options for existing loans. The PAL ReFi program allows borrowers to refinance federal and private loans at fixed rates. Additionally, the corporation promotes financial literacy by providing tools and guidance on scholarships, financial aid, and smart borrowing decisions.

Philanthropy and Community Initiatives

In 2019, the corporation launched Power:Ed, a philanthropic initiative aimed at breaking down economic barriers to education. This grantmaking program focuses on supporting first-generation students, workforce development, equity promotion, and systemic transformation in underserved regions of South Carolina. To date, Power:Ed has awarded numerous grants, positively impacting communities across the state.

BOLD Career Pathways

The corporation also offers BOLD Career Pathways, a program where future employers help pay off student loans, allowing students to graduate with less debt and secure job placement post-graduation. This initiative aligns with the organization's goal of reducing student debt and enhancing career prospects.

CORE Values

The South Carolina Student Loan Corporation operates under a set of CORE Values: Respect, Integrity, Great Service, High Value for Employees and Customers, and Transparency and Teamwork. These principles guide its interactions with students, families, and the broader community.

Refinance Options

The corporation provides refinancing options under the PAL ReFi program, which includes various term lengths and competitive fixed rates. Borrowers must meet a minimum credit score requirement of 670, with higher scores potentially qualifying for lower APRs. The refinancing process includes benefits like no prepayment penalties and a discount for auto-pay enrollments.