The South Carolina Career Changers Loan Program was established by the State of South Carolina to help individuals who are changing careers enter the teaching profession.

Applicants must meet the same criteria as for the South Carolina Teachers Loan Program, except the academic requirements will be waived for the first year. Additionally, applicants must have possessed a baccalaureate degree for at least three years. This requirement is waived for individuals who are instructional assistants in the South Carolina public school system. Applicants must have been employed full-time for at least three years.

Borrowers may borrow up to $15,000 in the Career Changers program, not to exceed an aggregate total of $60,000. Funds are limited and available on a first-come, first-serve basis.

The SC Career Changers Loan may be forgiven at the rate of 20% or $3,000, whichever is greater, for each full year of teaching in a South Carolina public school in a critical subject or critical geographic area. If you teach in a public South Carolina school in both a critical subject and a critical geographic area, your loan will be forgiven at the rate of 33 1/3% or $5000, whichever is greater, for each year of full-time teaching.

The subject areas which are critical at the time you apply, or later, will be honored for forgiveness when you begin teaching. A critical geographic area must be officially critical at the time of your employment.

 If you do not teach, repayment will begin six months after you graduate or cease to be enrolled at least half time. The interest rate will equal the maximum interest rate on the Federal Stafford Loan, plus 2%.

For more information about SC Career Changers Loan, including how to apply, click here.