South Carolina Student Loan

What South Carolina Student Loan does

South Carolina Student Loan Corporation is a South Carolina-chartered nonprofit organization founded in 1973 and headquartered in Columbia, SC. It provides private student loans and related financing products to South Carolina residents and to students attending South Carolina colleges and universities. Its core product, the Palmetto Assistance Loan (PAL), covers undergraduate, graduate, and parent borrowers, and is supplemented by specialized programs including the SC Teachers Loan, Career Changer Loan, PACE Loan (alternative educator certification), refinancing, and the trademarked BOLD Career Pathways program, in which employers fund loan payments in exchange for post-graduation work commitments. Loan amounts are priced as simple daily interest, with fixed or variable rates and multiple repayment elections (interest-only, $25 fixed in-school payments, or full deferral), and a six-month grace period applies to most products.

The company operates a direct-to-consumer online application and servicing platform with real-time credit decisioning, supplemented by a proprietary school portal used by college financial aid offices to certify and manage PAL loans. Distribution combines website-driven self-service with structured channel partnerships: high school counselors host Financial Aid Nights and FAFSA workshops, college financial aid offices refer and certify borrowers, and the company partners with the SC Commission on Higher Education, CERRA, TeachSC, Call Me MISTER, and SC AHEC to administer scholarships and loan forgiveness programs for teachers and healthcare professionals in critical areas. SCSL holds NMLS registration (ID 1509953) and consumer lending licenses across 14 states.

Revenue is generated primarily through interest income on originated and refinanced student loans, supplemented by loan origination and processing fees and administration of state-aligned scholarship and loan forgiveness programs. Marketing emphasizes a nonprofit, mission-driven approach, with human advisors reachable by phone, chat, or email, and an extensive College Planning Center providing calculators, FAQs, and SC-specific financial aid resources.

Name

South Carolina Student Loan

Legal name

South Carolina Student Loan Corporation

Website

https://scstudentloan.org

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

51–100 employees

Short description

South Carolina Student Loan Corporation is a 1973-founded South Carolina nonprofit providing private student loans, refinancing, and specialized loan forgiveness programs for SC residents and students attending SC institutions, distributed via direct online channels and school partnerships.

Ownership category

akta.pro rank

Product category

Private Student Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (52231), Educational Support Services (611710)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Private Student Loans (Undergraduate & Graduate) (FSAKAEAB)

akta.pro secondary industries

Student Loan Refinancing (Private Refi) (FSAKAEAD), Parent & Family Education Loans (e.g., PLUS/private parent loans) (FSAKAEAC), In-School Tuition & Fee Financing (Short-term/Bridge) (FSAKAEAG), Continuing Education & Professional Certification Financing (FSAKAEAJ)

Keywords

• Private student lending
• Education loan refinancing
• Teacher loan forgiveness
• Nonprofit financial services
• Parent education loans

Headquarters

HQ city

Columbia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Student Loan Interest: The primary revenue stream comes from interest charged on student loans including Palmetto Assistance Loans (undergraduate, graduate, parent), SC Teachers Loans, and refinancing loans. Interest rates can be fixed or variable depending on loan type and payment elections.
2. Loan Origination and Processing Fees: Revenue generated from processing loan applications, originating loans, and managing the loan lifecycle including disbursements and repayment servicing.
3. Loan Forgiveness Program Administration: SC Teachers Loan and related programs offer loan forgiveness for teaching in critical subject or geographic areas, with funding limits determined by the state annually.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

South Carolina Student Loan is a nonprofit corporation that provides private student loans to South Carolina residents and students attending South Carolina institutions. Its core product, the Palmetto Assistance Loan (PAL), covers undergraduate, graduate, and parent borrowers, with specialized loan and forgiveness programs for teachers, career changers, nursing faculty, and rural healthcare professionals, plus refinancing and the BOLD Career Pathways employer-funded repayment program.

Product overview

South Carolina Student Loan offers a portfolio of student loan products centered around its Palmetto Assistance Loan (PAL) program, including specialized loan offerings for South Carolina residents such as SC Teachers Loans, Career Changer Loans, and PACE Loans for aspiring educators. The company provides undergraduate loans, graduate loans (covering business, dental, engineering, law, medical, and veterinary schools), parent loans, and refinancing options. The BOLD Career Pathways program enables employer-paid tuition gaps, and a quarterly scholarship giveaway supplements the lending portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• BOLD Career Pathways: College loans that are paid for by future employers, allowing candidates to attend SC colleges with their loan payments made by the employer in exchange for work commitment after program completion.
• Palmetto Assistance Loan (PAL)
• SC Teachers Loan

Products and services

• Palmetto Assistance Loan (PAL) Primary private student loan product for undergraduate, graduate, and parent borrowers to cover educational expenses during enrollment periods. Minimum loan $2,500; borrowers can access up to cost of attendance minus other financial aid; simple daily interest calculation; multiple repayment options including interest-only, $25 fixed monthly, or full deferment; six-month grace period.
• SC Teachers Loan Forgivable loan program for undergraduate and graduate students planning to teach in critical subject or geographic areas in South Carolina public schools, with annual and aggregate loan caps.
• Career Changer Loan Loan program for individuals pursuing a career change to become teachers in South Carolina public schools, with higher annual and aggregate limits than the standard SC Teachers Loan.
• PACE Loan (Pathway to Accelerated Educator Certification) Loan for individuals pursuing an alternative pathway to educator certification in South Carolina, with low annual and aggregate limits sized for short-term certification programs.
• PAL ReFi (Student Loan Refinancing) Student loan refinancing product for borrowers with existing federal or private student loans seeking to consolidate and lower their interest rates and monthly payments. Open to residents of SC, NC, FL and additional states where SCSL holds consumer lending licenses.
• Nursing Faculty In-School Loans Loans for nursing faculty members to support their educational advancement, paired with forgiveness programs administered in partnership with SC AHEC for healthcare professionals working in underserved areas.
• BOLD Career Pathways Program in which South Carolina employers cover students' college loan payments in exchange for post-graduation employment commitments, allowing graduates to start with less debt and a job lined up.
• No-Effort $5K Scholarship Giveaway Quarterly scholarship drawing offering $5,000 to one winner each quarter in September, December, March, and June — four chances per year.

Quantifiable outcome

• Rates match or beat federal loans and other private loan companies
• +1 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• South Carolina High SchoolscoreChannel Partner/ Reseller/ DistributorPartnership with high schools across South Carolina to provide Financial Aid Night presentations, FAFSA submission workshops, and college transition counseling. SCSL staff travel to school campuses to educate students and families about financial aid options.
• South Carolina College Financial Aid OfficescoreChannel Partner/ Reseller/ DistributorPartnership with college and university financial aid offices to certify and administer Palmetto Assistance Loans. Schools access an online portal for loan certification, application management, and disbursement processing via electronic funds transfer.
• South Carolina Employers (BOLD Career Pathways)flagshipStrategic or Co-development PartnerPartnership with South Carolina employers who agree to pay participating students' college loan payments in exchange for post-graduation employment commitments. Employers gain access to talent pipeline while students graduate with less debt and guaranteed employment.
• South Carolina Commission on Higher EducationcoreStrategic or Co-development PartnerAdministered Palmetto Fellows Scholarship program for academically talented SC students. Partnership to promote SC higher education and retain talented students in-state.
• CERRA (Center for Educator Recruitment, Retention, and Advancement)minorStrategic or Co-development PartnerPartnership for Teaching Fellows program providing fellowship funds up to $24,000 over four years for students pursuing teacher certification. SCSL supports through loan forgiveness programs for participants.
• TeachSCminorGTM or Marketing PartnerPartnership providing free tools and resources for aspiring teachers. Includes application checklists, fee reimbursements, expert advice, and scholarship opportunities for teacher certification candidates.
• Call Me MISTER ProgramminorStrategic or Co-development PartnerPartnership with Clemson University's innovative teacher recruitment program (Mentors Instructing Students Toward Effective Role Models) that provides tuition assistance through loan forgiveness at participating colleges.
• South Carolina Area Health Education Consortium (SC AHEC)minorStrategic or Co-development PartnerPartnership for Rural Physician Incentive Grant Program, Resident Enhanced Rural Incentive Grants, and Rural Dentist Program providing loan forgiveness for healthcare professionals working in underserved areas.
• U.S. Department of EducationcoreStrategic or Co-development PartnerPartnership enabling participation in federal student aid programs including Pell Grants, TEACH Grants, and federal loan programs. SCSL serves as alternative financing option for students who need additional funds beyond federal aid.

Scale indicators1 record

Recent moves1 record

Expansion highlights5 records

Direct peers

• Vermont Student Assistance Corporation (VSAC): State-based nonprofit student aid organization offering private/alternative student loans, refinancing, and grant programs in Vermont. Direct structural peer: same nonprofit model, state focus, and education loan + outreach product mix as South Carolina Student Loan.
• Rhode Island Student Loan Authority (RISLA): State quasi-governmental nonprofit providing in-school and refinance student loans to Rhode Island residents and students. Closely comparable in mission, scale, and single-state orientation, with a similar partnership-driven GTM into college financial aid offices.
• MEFA (Massachusetts Educational Financing Authority): State-authorized nonprofit that issues education loans, refinancing products, and college planning resources to Massachusetts families. Directly comparable as a state-based nonprofit student lender with a similar nonprofit mission and school-channel distribution model.
• Granite State Management & Resources: New Hampshire-based nonprofit education loan servicer and lender administering state-aligned student loan programs. Comparable as a small, state-focused nonprofit student loan organization with similar scale and product structure.
• Iowa Student Loan: Private nonprofit providing private student loans, refinancing, and college planning to Iowa residents and students attending Iowa schools. Direct peer on nonprofit structure, state concentration, school-channel distribution, and counseling-led positioning.
• College Ave Student Loans: Online-focused private student loan and refi lender serving undergraduate, graduate, and parent borrowers nationwide. Directly comparable in product set (undergrad, grad, parent, refinance) and digital D2C GTM, though with national marketing reach.
• Earnest: Private student loan and refinancing lender using underwriting on alternative data and a digital application flow. Comparable in private student loan and refi product set and digital-first GTM; competes head-to-head with SCSL's PAL ReFi offering.

Emerging players

• Education Loan Finance (EDFIN): Nonprofit education loan organization offering student loan refinancing and planning tools. Comparable as a mission-aligned nonprofit lender, though operating more in refinance and secondary-market education loan services rather than state-anchored in-school lending.

Broad incumbents

• SoFi: National consumer fintech offering private student loans and student loan refinancing alongside a broad suite of lending and banking products. Comparable as a private student loan and refi competitor, but operates at vastly greater scale and with a national brand.
• Discover Student Loans: National private student loan and refi product from a large bank holding company, covering undergraduate, graduate, and parent segments. Comparable as a broad incumbent in the same private student loan categories SCSL serves, but with materially larger scale and marketing budget.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/scstudentloancorporation
• LinkedInlinkedin.com/company/south-carolina-student-loan
• Instagraminstagram.com/southcarolinastudentloan
• Xx.com/scstudentloan

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about South Carolina Student Loan