College Financial InformationPaying 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.
Financial Info for Future TeachersThe 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. Current critical subject areas include the following:
Art; Business/ Marketing/Computer Tech; Computer Programming; Dance; Engineering; English as a Second Language; Family/Consumer Science; Chinese, French, German, Japanese, Latin, Russian, and Spanish; Health; Industrial Technology; Literacy; Media Specialist; Music; Secondary English, Math, Science, and Social Studies; Special Education; Speech Language; Theater; and all Middle Level Areas. Do you qualify? You must:
The loan is renewable. To renew the loan:
Freshmen and sophomores may borrow up to $2,500 per year. Juniors, seniors, and graduate students may borrow up to $5,000 per year. If a borrower decides not to teach or does not teach in a critical area, the loan must be repaid. Loans are forgiven at the rate of 20% or $3,000, whichever is greater, for each year of full-time teaching in a critical subject area or in a critical geographic area in a SC public school. The loan is cancelled at a rate of 33.3% or $5,000, whichever is greater, for each year of full-time teaching in both a critical subject area and a critical geographic school. For more information, visit the South Carolina Student Loan Corporation ‘s website at www.scstudentloan.org or call 803.798.0916 or 800.347.2752. Ken Bower Teacher Cadet ScholarshipThe Ken Bower Teacher Cadet Scholarship, named in memory of Dr. Ken Bower, an architect of the original Teacher Cadet course and curriculum, is awarded each year to as many as five senior Teacher Cadets who intend to become classroom teachers in one of South Carolina's many public schools. Teacher Cadet instructors receive notification of the call for applications early each calendar year, and the additional scholarship information can be found at https://www.teachercadets.com/ken-bower-scholarship.html.
Call Me MisterThe mission of the Call Me Mister (Mentors Instructing Students Toward Effective Role Models) Initiative is 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 four HBCUs: Benedict College, Claflin University, Morris College, and South Carolina State University. The project also has limited enrollment in the middle school Master of Arts in Teaching Program. Partner schools: Anderson University, Benedict College, Claflin University, Clemson University, College of Charleston, Coastal Carolina University, Greenville Technical College, Lander University, Limestone College, Midlands Technical College, Morris College, Piedmont Technical College, SC State University, Southern Wesleyan University, Tri-County Technical College, Trident Technical College, and the University of SC – Beaufort, and Winthrop University. For more information, contact: 800.640.2657 www.callmemister.clemson.edu, or email MISTER@clemson.edu.
TEACH GrantThe Teacher Education Assistance for College and Higher Education (TEACH) grant program provides grants of up to $4000 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 for which 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.
READ MORE College Financial NewsletterThe 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.
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. Financially SpeakingCERRA and The South Carolina Student Loan Corporation have partnered to created a new publication called Financially Speaking: Becoming a South Carolina Teacher. This brochure provides detailed information on financing a degree in teaching.
South Carolina Scholarship ProgramsPalmetto Fellows
Sophomores, juniors, and seniors may receive up to $7,500 per year. Math and Science majors are eligible to receive up to a $2,500 supplement beginning in their second/sophomore year. READ MORE LIFE Scholarship Students must meet two of the following three academic criteria to receive funds at a four-year institution:
Freshmen attending an eligible four-year college or university in the fall of 2017 may receive up to $5,000 (including a $300 book allowance) each academic year toward the cost of attendance. Math and science majors are eligible to receive up to a $2,500 supplement beginning in their second/sophomore year. For students attending an eligible two-year public college or technical college in SC, the LIFE scholarship pays up to the maximum cost of tuition at the two-year regional campuses (plus a $300 book allowance) each academic year. Students must earn a cumulative 3.0 GPA based on the UGS upon high school graduation to receive the LIFE Scholarship at a two-year college READ MORE HOPE Scholarship
READ MORE Check out more details: Fellows: http://www.che.sc.gov/CHE_Docs/studentservices/palmettofellows/files/PFS_Q_A.pdf Life: http://www.che.sc.gov/CHE_Docs/studentservices/life/FAQ-LIFE-3_2015.pdf Hope: http://www.che.sc.gov/CHE_Docs/studentservices/hope/QASC_HOPE_2015.pdf READ MORE Federal Sources for Financial AidEligibility for Federal Financial Aid
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 the 2016 – 2017 academic year is $5,815 depending upon program funding, financial need, and costs of attendance. FAFSA completion automatically targets students who may qualify. Federal Perkins Loan Program - Loans to students with exceptional financial need. No interest is paid nor accumulated while in college. After college, students repay the loan with 5% interest. Possibility of loan forgiveness for teaching. Need more Info.? Check out… https://studentaid.ed.gov/types/loans/perkins Federal Stafford Loan Federal Stafford Loans are a form of federal loans 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. Need more Info.? Check out… http://www.staffordloan.com/ and http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/teacher 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. Click here for more Info. FAFSAFederal 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 or by calling 800-4-FED-AID (800.433.3243).
To apply for FAFSA, you will need the following:
Electronic FAFSA form: www.fafsa.ed.gov After applying, you will receive a Student Aid Report (SAR) noting eligibility for aid. Other Sources of Financial AidPrivate 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. Visit www.sctuitiongrants.com Think creatively about financial aid options! **Consider community agencies, civic groups, corporations, cultural organizations, foundations, fraternal groups, religious organizations, and the military for additional aid. Ask your guidance counselor, and check the guidance office’s bulletin boards OFTEN for local information. College Admissions TestingImportant LinksNeed 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:
READ MORE about financial aid. Financial Information for High School GraduatesFinancial AidThe 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. For more information please visit our website at http://www.birdnest.org/wise/
*STEM – Science, Technology, Engineering and Mathematics South Carolina Need-Based Grants ProgramThe 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 http://www.che400.state.sc.us South Carolina Teachers Loan ProgramThe 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 http://www.scstudentloan.org/applyforaloan.aspx South Carolina Tuition Grants ProgramThe 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 www.sctuitiongrants.com Federal Stafford LoanThe Federal Stafford Loan is a low variable interest loan available to at least half-time students to help pay expenses related to attending a college or university.
For more information contact: SC Student Loan Corporation PO Box 21487 Columbia, SC 29221 Local phone: (803) 798-0916 Toll-free: (800) 347-2752 http://www.scstudentloan.org/applyforaloan.aspx Federal PLUS ProgramThe 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.
For more information contact: SC Student Loan Corporation PO Box 21487 Columbia, SC 29221 Local phone: (803) 798-0916 Toll-free: (800) 347-2752 http://www.scstudentloan.org/applyforaloan.aspx Troops to TeachersTroops 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.
For more information and qualification requirements, visit: http://proudtoserveagain.com or call 800.231.6242. Loan Forgiveness Programs
Other Scholarship Opportunities
Web Sites with Free Services
Registration for College Entrance Exams
Miscellaneous InformationDifferences between the ACT and SATOnline Financial Aid Services
Loan Forgiveness Programs
SC Teachers 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.
To apply for forgiveness of the SC Teachers Loan or SC PACE Loan, simply complete the SC Teachers And Governor's Teaching Scholarship Confirmation form. This form should be completed at the end of each school year. For more information, visit http://www.scstudentloan.org/students/teacherforgiveness.aspx http://www.scstudentloan.org/students/teacherforgiveness.aspx |
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