What is the S.C. National Guard Student Loan Repayment Program?
What is the S.C. National Guard Student Loan Repayment Program?
During the 2001 legislative session, the General Assembly approved Act 41. The Commission on Higher Education, in consultation with the South Carolina Student Loan Corporation, developed a loan repayment program for providing incentives for enlisting or remaining a minimum of six years in either the South Carolina Army or Air National Guard (SCNG) in areas of critical need. The Commission on Higher Education must define areas of critical need annually in consultation with the Office of the Adjutant General.
The Purpose:
• PROVIDE incentives for enlisting or remaining for a specified time in the SCNG in areas of critical need by repayment of eligible student loans
General Eligibility Requirements:
• Must enlist, reenlist, accept a warrant or be commissioned for a term of at least six years and, at the time of enlistment, meet a critical need area
• Must be a legal resident of South Carolina
• Must maintain satisfactory performance in the SCNG
• Must submit an application each year to Commission on Higher Education in order to be eligible for loan repayment
• Eligible student loans may be repaid at the rate of $4500 per year for a maximum of four years
• Payments made directly to the loan provider
• Eligible loans are guaranteed under part B, part D, or part E of Title IV of the Higher Education Act of 1965, must not be in default and be at least one year old
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