College Financial Information

Paying for a college education can be a challenge. Fortunately, CERRA is here to help. The primary purpose of these pages is to provide high school students and individuals who have chosen to pursue a career in education a number of resources to explore that can help finance a path to the classroom. Start by clicking the appropriate tab below.
  • High School Students
  • High School Graduates
  • Loan Forgiveness
<
>

Financial Info for Future Teachers

What Should I Know First?

Grants and Scholarships do not have to be repaid. 

Most loans must be repaid, under most circumstances. They usually have low interest rates, and most do not have to be repaid until the student leaves college.

Fellowships are funds granted for advanced study. In many cases, Fellows share similar professional interests.

Student Employment is a job that the college coordinates or assigns for the student to offset the cost of attending school.

The SC Teacher Loan Program

The South Carolina Teacher Loan Program encourages South Carolina residents to enter the teaching profession. These loans are forgiven by teaching in a SC public school in a critical subject and/or critical geographic area.

What are the critical geographical areas?
Critical geographical areas vary in each district and every year. Please visit https://scstudentloan.org/current-borrowers/teacher-forgiveness/critical-geographic-schools for more information.

What are the Critical Subject Areas?
Critical subject areas are designated annually. However, to be eligible to cancel a debt for teaching in a critical subject the recipient must be teaching a subject designated as critical at the time the recipient began borrowing through the Teachers Loan Program. A list of critical subject areas can be found at https://scstudentloan.org/current-borrowers/teacher-forgiveness/critical-subject-areas.

How can I calculate the percentage of the loan forgiven?
The loan is forgiven at the rate of 20% or $3,000, whichever is greater, for each full year of teaching in a SC public school in a critical subject or geographic area. If you teach in a public SC school in both critical subject and critical geographic area, 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.
​
Do you qualify? You must:
  • rank in the top 40% of your high school graduating class.
  • be a resident of South Carolina. ​
  • ​be a citizen or permanent resident of the United States.  
  • have an SAT or ACT score equal to or greater than the South Carolina average for the year of high school graduation. Currently, the average scores are: SAT (ERW and Math) 1058, ACT 18. 

​​To renew the loan:
  • students must re-apply each year
  • undergraduates must have a cumulative GPA of at least 2.75 on a 4.0 scale
  • after the freshman year, a student must take and pass the Praxis Core exam. Students with a SAT score of 1100 or greater, or ACT score of 24 or greater are exempt from the Praxis requirement.

Ken Bower Teacher Cadet Scholarship

Who Can Apply
High school seniors who participated in the Teacher Cadet Program and plan to attend a South Carolina college or university to become a teacher are encouraged to apply.

Application Window
The Ken Bower appication window opens February 1, 2021. The application must be completed and received no later than 11:59 p.m. on March 31, 2021.

Announcement
The selected scholarship recipients will be announced next spring by letter. News of recipients will also be posted online at teachercadets.com.

Disbursement of Funds
The scholarship funds will be disbursed directly to the college/university by August 2021.
Recipients of the Ken Bower Scholarship will receive a one time award of $1,000. Awards are determined based on the merits of scholarship, school and community involvement, teacher recommendations, and a written essay. The Ken Bower scholarship is not "needs-based" and does not rely on the Teacher Cadet's family financial information. Teaching Fellows may also b​e recipients of the Ken Bower Scholarship.

SC Teaching Fellows Program

Who Can Apply
Applicants must be a high school senior or junior graduating early, a United States citizen or permanent resident alien legally authorized to be in the United States, and a legal resident of South Carolina.

Application Window
The Teaching Fellows application window opens October 1, 2020. The application and and supporting documents must be submitted no later than 11:59 p.m. on December 31, 2020.

Announcement
Award notifications will be made in early spring 2021.

​Awards
​Teaching Fellows receive up to $24,000 in fellowship funds (up to $6,000 a year for four years) while they complete a degree leading to initial teacher certification. The fellowship provides up to $5,700 for tuition and board and $300 for specific enrichment programs administered by CERRA. All Teaching Fellows awards are contingent upon funding from the SC General Assembly. A Fellow agrees to teach in a South Carolina public school one year for every year he or she receives the Fellowship.

Call Me Mister

Call Me MiSTER aims to increase the pool of available teachers from a broader background. Call Me MiSTER combines the special strengths of Clemson University with the individualized instructional programs offered by several colleges and universities in South Carolina. The project also has limited enrollment in the middle school Master of Arts in Teaching Program.

Partnering Schools:
​Aiken Technical College, Anderson University, Benedict College, Claflin University, Clemson University, Coastal Carolina University, College of Charleston, Greenville Technical College, Horry Georgetown Technical College, Lander University, Limestone College, Midlands Technical College, Morris College, Newberry College, Piedmont Technical College, South Carolina State University, Southern Wesleyan University, Spartanburg Community College, Tri-County Technical College, Trident Technical College, University of South Carolina Aiken, University of South Carolina Beaufort, University of South Carolina Upstate, and Winthrop University

Call 800.640.2657 or e-mail MISTER@clemson.edu.

TEACH Grant

The Teacher Education Assistance for College and Higher Education grant program provides grants of up to $4,000 per year to students who intend to teach in a private or public elementary or secondary school that serves students from low-income families. As a recipient of a TEACH Grant, you must teach in a high need field for at least four academic years within eight calendar years of completing the program of study forwhich you received a TEACH Grant. If you fail to complete this service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan.

College Financial Newsletter

The Center's College Financial Newsletter serves as a resource tool between high schools and college admissions/financial aid representatives. The College Financial Newsletter tries to get students past the roadblocks that may discourage the prospective college student, as well as his or her parents, from pursuing a college education. To assist in finding information about college scholarships, loans and other programs, the Center publishes the College Financial Newsletter, a newsletter featuring a review of current financial aid information.

Scholarship & Grant for SC Residents

Palmetto Fellows
  • For college freshmen entering in the fall of 2020, the amount of the scholarship is up to $6,700 towards the cost of attendance. Sophomores, juniors, and seniors may receive up to $7,500 per year.
  • Math and science majors are eligible to receive up to $2,500 Palmetto Fellows Enhancement beginning their sophomore year.
READ MORE

LIFE Scholarship
  • Freshmen attending an eligible four-year college or university in the fall of 2020 may receive up to $5,000 (including a $300 book allowance) each academic year towards the cost of attendance.
  • Math and science majors are eligible to receive an enhancement up to a $2,500 beginning sophomore year.
  • For students attending an eligible two-year public / private college or technical college in SC, the LIFE scholarship pays up to the maximum cost of tuition at the two-year regional campus (plus a $300 book allowance) each academic year.

READ MORE

Hope Scholarship
  • Students must graduate from high school with at least a cumulative 3.0 based on the SC Uniform Grading Policy.
  • Eligible freshmen entering four-year institutions in South Carolina may receive up to $2,800 (including book allowance) for the first year toward the cost of attendance.

Federal Sources for Financial Aid

FEDERAL AID AT A GLANCE 
https://studentaid.gov/sites/default/files/aid-glance-2020-21.pdf 
​​
​Eligibility for Federal Financial Aid
  • Be a U.S. citizen, a U.S. national or permanent resident. (Eligible non-citizens may also receive federal student aid.)
  • Be registered with the Selective Service, if you are a male 18 or older
  • Have documented financial need for certain types of aid
  • Have a high school diploma, a GED, or a passing score on a test approved by the U.S.
  • Be enrolled as a regular student in a course of study leading to a degree or certificate
  • Have a valid Social Security number
  • Meet the school’s standard for academic progress
  • https://studentaid.gov/sites/default/files/eligibility.png

Federal Parent Loan for Undergraduate Students (PLUS) 
Loans made to parents who are then responsible for repaying the amount borrowed.

Federal Pell Grant
Direct aid for students based on need. Maximum amount awarded for 2020-2021 is $6,345, depending on program funding, financial need, and cost of attendance. FAFSA completion automatically targets students who may qualify. 

Federal Parent Loan for Undergraduate Students (PLUS)
​Loans made to parents who are then responsible for repaying the amount borrowed. 
 Direct aid for students based on need. Maximum amount awarded for 2020-2021 is $6,345, depending on program funding, financial need, and cost of attendance. FAFSA completion automatically targets students who may qualify. (See next page for FAFSA information) 
Federal Stafford Loan
A type of federal loan available to students who are enrolled in college at least half-time. Borrowers who receive a Federal Stafford Loan may be eligible for the US Department of Education’s Stafford Loan Forgiveness Program for teaching. Upon meeting specific criteria, including teaching for five consecutive, complete school years in a low income school, recipients may be eligible to forgive up to $17,500. 

​Federal Supplemental Educational Opportunity Grant (FSEOG) 
Grants of $100 to $4,000 for students with exceptional financial need.
​
Federal Work Study Program (FWSP)
​Jobs on campus for students with financial need.

FAFSA

Federal law requires the U.S. Department of Education to provide students with the opportunity to apply for federal aid without paying a fee. To be considered for student aid, the Free Application for Federal Student Aid (FAFSA) form must be completed and submitted. Forms are available in high school guidance offices and online at www.fafsa.ed.gov or by calling 800-4-FED-AID (800.433.3243).
​
To apply for FAFSA, you will need the following:
  • an application or computer access for e-filing
  • social security number
  • the most recent student and parent income tax information
  • all W-2 statements of earnings
  • current bank statements
  • ​a FSA ID to sign electronically
Students may not complete the FAFSA application before October 1 or after June 30 of the year in which they will receive the aid. NO EXCEPTIONS. After applying, you will receive a Student Aid Report (SAR) noting eligibility for aid.  

Other Sources of Financial Aid

Private College Information
The South Carolina Tuition Grants Program provides undergraduate grant assistance to eligible SC residents who attend SC independent, non-profit (private) colleges on a full-time basis.

Think creatively...
  • Consider community agencies, civic groups, corporations, cultural organizations, foundations, fraternal groups, religious organizations, and the military for additional financial aid.
  • ​Ask your guidance counselor and check the guidance office’s bulletin boards and/or electronic newsletters OFTENfor local financial opportunities.
  • Check the college/university financial aid website for aid for incoming

College Admissions Testing

Important Links

ACT
ACT Fee Waivers 
Call Me MISTER
CERRA
College Board
CollegeNET 
FAFSA (English & Espanol)
Federal Information
Gates Millennium
SC Scholarships & Colleges
NABSE 
Private Sector Scholarships
SAT 
SAT Fee Waivers (need-based)
SCABSE Scholarship
SC Student Loan Corporation
SC Teaching Fellows
SC Teacher Loan 
SC Tuition Grants
Student Aid InfoCenter
The SmartStudent™ Guide to Financial Aid
US Dept. of Education 
www.act.org
319.337.1270
www.callmemister.clemson.edu
www.cerra.org
www.collegeboard.com
www.collegenet.com
www.fafsa.ed.gov / 800.433.3243
Student Aid Website
www.gmsp.org
www.che.sc.gov
www.nabse.org
www.fastweb.com
www.collegeboard.com
866.756.7436
https://scabse.net/scholarships
www.scstudentloan.org or 800.347.2752
http://www.cerra.org/teachingFellows
http://www.scstudentloan.org
www.sctuitiongrants.com
Student Aid Info Center
www.finaid.org
US Dept. of Ed. Website

Need Some Good Advice?

We do our best to provide you with current links to additional information that can aid you in securing the finances needed for college. There are many other sources available on the internet. We encourage you to spend time researching for additional resources, but some of these sites do not have your best interests in mind. Don't fall prey to fraud when searching for information on student financial aid.

The College Scholarship Fraud Prevention Act helps protect against fraud in student financial assistance.

​The Federal Trade Commission (FTC) cautions students to look for tell-tale lines such as these:
  • “You can’t get this information anywhere else.”
  • “I just need your credit card or bank account number to hold this scholarship.”
  • “The scholarship is guaranteed or your money back."
  • “You can’t get this information anywhere else.”
  • “I just need your credit card or bank account number to hold this scholarship.”
  • “The scholarship is guaranteed or your money back."
Source: www.studentaid.ed.gov

Financial Information for High School
​Graduates


Financial Aid

The following information lists loans, scholarships and grants that are available to qualifying students who are interested in teaching. These links take you directly to the Web sites where more information is available. There are also Web sites and free services listed where a search can be conducted for additional scholarships. Finally, registration information for college entrance exams is listed.

The Winthrop Initiative for STEM Educators (WISE)

The Winthrop Initiative for STEM* Educators (WISE) is dedicated to helping individuals not only financially, but also with personal support.  There are multiple financial opportunities within the WISE program to help pay for an undergraduate and/or graduate teacher certification program.  The WISE program is also dedicated to helping prepare talented individuals for teaching in high need schools and supporting them beyond graduation. *STEM – Science, Technology, Engineering and Mathematics

South Carolina Need-Based ​Grants Program

The South Carolina Need-Based Grants Program is designed to provide additional financial aid assistance to South Carolina's neediest students. To qualify, a student must be "needy" as defined by Title IV Federal Student Aid Programs.
​
For More Information Contact:
Commission on Higher Education
1333 Main Street, Suite 200
Columbia, SC 29201
803.737.2262; FAX: 803.737.2297

South Carolina Teachers Loan Program

The SC Teachers Loan Program encourages South Carolina residents to enter the teaching profession by helping with college expenses. These loans are canceled by teaching in South Carolina public schools in an area of critical need.

For a list of the current critical subject areas and critical geographic schools go to: http://www.scstudentloan.org
​
For more information contact:
SC Student Loan Corporation
PO Box 21487
Columbia, SC 29221
Local phone: 803.798.0916, Toll-free: 800.347.2752

South Carolina Tuition Grants Program

The purpose of the program is to provide undergraduate grant assistance to eligible South Carolina residents attending, on a full-time basis, certain independent non-profit colleges located in the state.
​
For More Information Contact:
Tuition Grants Commission
PO Box 12159
1310 Lady Street, Suite 811
Columbia, SC 29211
803.734.1200; FAX: 803.734.1426

Federal Stafford Loan

A type of federal loan available to students who are enrolled in college at least half-time. Borrowers who receive a Federal Stafford Loan may be eligible for the US Department of Education’s Stafford Loan Forgiveness Program for teaching. Upon meeting specific criteria, including teaching for five consecutive, complete school years in a low income school, recipients may be eligible to forgive up to $17,500.

Federal PLUS Program

The Federal PLUS Program was established to ease the burden that the cost of post-secondary education places on many families. Federal PLUS loans are available to parents of dependent students who need additional assistance or who may not qualify for other types of financial assistance.

Troops to Teachers

Troops to Teachers is a Federal Program under the Department of Defense that assists veterans in becoming teachers. The program offers counseling, financial, and placement assistance. For those who qualify, there is a $5,000 stipend to help qualify for a SC license to teach, or up to a $10,000 bonus to teach in a high needs school, or a combination of the two not to exceed $10,000. 

Loan Forgiveness Programs

Other Scholarship Opportunities

  • Palmetto Fellows Scholarship: SC Commission on Higher Education, 1333 Main Street, Suite 200, Columbia, SC 29201, (803) 737-2262. This scholarship provides financial assistance to high school seniors in SC who have achieved a high score on the SAT, and have noteworthy GPA, class rank, extracurricular activities, leadership, and counselor recommendations. Students must attend a South Carolina institution. May receive up to $6700 annually.
  • LIFE Scholarships: SC Commission on Higher Education, 1333 Main Street, Suite 200, Columbia, SC 29201, (803) 737-2293. This scholarship is available to all South Carolina residents who graduated from high school after 1995. If attending a technical college the student must have a B average to receive up to cost of attendance. If attending a 4-year institution the student must have a B average, minimal SAT score and take a minimum of 30 hours per year to receive up to cost of tuition.
  • Scholarship Grants for Prospective Teachers: Phi Delta Kappa, Inc., Attn. Scholarship Grants, PO Box 789, 8th and Union Avenue, Bloomington, IN 47402, (812) 339-1156. This grant is for high school seniors in the top third of their class who plan to become teachers.
  • The Federal Supplemental Educational Opportunity Grant Program (FSEOG) - This program provides grants of up to $4,000 for students with exceptional financial need.
  • The Federal Perkins Loan Program - This program provides loans for students with demonstrated need. No interest is paid while you are enrolled in college. When you leave college, you must repay the loan with 5% interest.
  • The Federal Work-Study Program (FWSP) - This program provides jobs for students with demonstrated need.
  • Federal Pell Grants - These grants are based on your family's financial circumstances and may be used at the college of your choice.
  • Call Me MISTER - The "Call Me MISTER" Program is a collaboration between Clemson University and historically black colleges to recruit, train, certify and secure employment for minority males as elementary teachers in the public schools of South Carolina. 1-800-640-2657 or CLICK HERE
  • The Ron Brown Scholarship - This scholarship is open to African-American high school seniors who are academically talented and highly motivated. Applicants must be able to demonstrate excellent academics, exceptional leadership potential, financial need and impact their communities through activities and service to others. Candidates must be pursuing full-time undergraduate degrees. Awards are $10,000 per year for four years. Visit http://www.RonBrown.org for more information.
  • Gates Millennium Scholars Program - This scholarship is aimed at expanding access to higher education to those citizens who reflect the diverse society in which we live. The scholarship is designed to increase the number of African-American, American Indians/Alaska Natives, Asian Pacific Americans and Hispanic Americans enrolling in and completing college degree programs. The United Negro College Fund administers the program in partnership with the Hispanic Scholarship Fund and the American Indian College Fund. 1-877-690-GMSP or http://www.gmsp.org.​
  • IPEDS College Opportunities On-Line - a direct link to over 9,000 colleges and universities in the United States. College Opportunities On-Line helps you find out about a specific college or set of colleges.​
  • Phi Delta Kappa Scholarships - The PDK Educational Foundation awards more than 30 scholarships each year to prospective educators who have a connection to PDK by having a family member or teacher who is a PDK member, or through membership in the Future Educators Association®. All scholarships are available under a single application.

Web Sites with Free Services

  • ​ETS Net - offers a store where you can buy books and software to study for tests http://www.ets.org/
  • fastWEB! (Financial Aid Search Through the Web) - This site provides a personally tailored search of scholarships and loans which you can check for updates. http://www.fastweb.com
  • Kaplan - info on standardized tests such as the SAT http://www.kaplan.com​
  • Peterson's - This website brings together, at one central address, consistently organized information about educational opportunities at all levels, and gives individuals the ability to search Peterson's databases, as well as to request more information and apply to a school or program. www.petersons.com
  • ThinkCollege- The Think College web site has been designed to provide information on educational opportunities beyond high school for learners of all ages. https://thinkcollege.net/​
  • XAP.com - This site will allow you to download college applications in any computer format. http://www.xap.com

Registration for College Entrance Exams

  • SAT Registration : College Board APT, P.O. Box 6200, Princeton, NJ 08451-6200 (609-771-7600) or http://www.collegeboard.com
  • ACT Registration: American College Testing Program, ACT Registration, P.O. Box 414, Iowa City, Iowa 52243 (319-337-1270) or http://www.act.org

Miscellaneous Information

Differences between the ACT and SAT
Online Financial Aid Services
​Information to find South Carolina Financial Aid Offices

Loan Forgiveness Programs


SC Teacher Loan Forgiveness

Borrowers who received a SC Teachers Loan or a SC PACE Loan may be eligible to forgive portions of your loan indebtedness by teaching in certain critical geographic and subject areas in the SC public school system. This forgiveness is available only to certified teachers and not to teacher's aides or teacher assistants and only to recipients of the SC Teachers Loan.

  • Critical Geographic Schools - If you taught in one of these schools during a particular school year, you may be eligible for forgiveness.  Critical geographic areas are designated annually by the State Board of Education. It is the recipient's responsibility to determine a school's designation prior to accepting employment. 
    ​​
  • Critical Subject Areas - If you received a loan to teach one of these subjects, you may be eligible for forgiveness.

Information about teacher loan programs and forgiveness, including information about career changers, PACE, etc., can be found at https://scstudentloan.org/school-loans/sc-teacher-loan-programs-forgiveness.
Picture