S.C. Code Regs. § § 62-570

Current through Register Vol. 48, 12, December 27, 2024

Section 62-570 - Loan Administration

A. All loans shall be secured by a Promissory Note. Loans shall bear interest from the date of the disbursement of funds to the borrower at the rate as may be specified by the Commission on Higher Education for use by the South Carolina Student Loan Corporation for its Teacher Loan Program.

B. The proceeds of the loan shall normally be disbursed during the academic registration period but not sooner than required by the student to meet educational expenses.

C. The participating institutions shall disburse the loans on an annual basis in accordance with these regulations.

D. At least 80% of the awards under the African-American Teacher Loan Program shall be awarded to African-American males, unless the institution justifies to the Commission on Higher Education the lack of availability of African-American males who meet the eligibility requirements.

S.C. Code Regs. § 62-570

Added by State Register Volume 20, Issue No. 5, eff May 24, 1996.