What is the Educational Loan Fund?
The Educational Loan Fund is a financial assistance program designed to help students cover the
cost of higher education. Loans may be used for tuition, fees, books, and other approved
educational expenses.
Who is eligible to apply?
Eligibility generally includes students from Sumter County SC, who are enrolled (or accepted for
enrollment) in an accredited college, university, or technical program in South Carolina.
What types of programs are eligible?
Funds may be used for undergraduate, graduate, vocational, or technical education programs, being attended full time and located in South Carolina.
How much can I borrow?
Loan amounts vary based on program guidelines, cost of attendance, and available funding.
You may qualify for up to $4,000 per semester up to a maximum of $8,000 per academic year.
What expenses can the loan be used for?
Approved expenses typically include tuition, mandatory fees, books, supplies, and in some cases
housing or transportation related to education.
What are the interest rates?
Interest rates are typically lower than traditional private loans and may be fixed or variable.
How do I apply?
Applications can be found online and submitted through a paper application. Applicants will be
required to provide proof of enrollment, financial information, and supporting documentation.
Can I reapply each year?
Yes. Students may reapply annually, provided they continue to meet eligibility requirements and
remain in good standing.
What happens if I have trouble making payments?
Borrowers experiencing financial hardship are encouraged to contact the loan administrator.
Options such as deferment, forbearance, or modified repayment plans may be available.
Is a co-signer required?
Two co-signers are required for this fund.
Will this loan affect my credit?
Yes. Educational loans are reported to credit bureaus, and timely payments can help build
positive credit history.