SC Student Loan's Statement on
Student Loan Legislation

(Columbia, SC) South Carolina Student Loan Corporation, South Carolina's only nonprofit student loan provider, released the following concerning the introduction by House Education and Labor Committee Chairman George Miller (D-CA) of H.R. 3221, the Student Aid and Fiscal Responsibility Act. The Committee is scheduled to mark up the legislation on Tuesday, July 21.

H.R. 3221 constitutes a dramatic overhaul of the federal student aid programs. The bill would greatly increase mandatory Pell Grant funding for low-income students and create a new $3 billion College Access and Completion Innovation Fund to improve student success, completion and post-completion employment.  This new funding will help further the dreams of many young people in South Carolina – particularly low-income and first-generation students – whose college aspirations SC Student Loan is dedicated to serving.

“I commend Chairman Miller for recognizing the value of state-based and nonprofit student loan providers by enabling us the opportunity to continue to provide local, customer-friendly student loan servicing,” President and CEO Chuck Sanders said.  “This will also help prevent the loss of many experienced student-support personnel as well as provide valuable continuity to borrowers in South Carolina and across the nation.”

For decades, nonprofit and state-based student loan providers like SC Student Loan have offered essential value-added benefits such as college outreach, debt management and financial literacy programs that students, parents, and schools have come to rely upon.  As this legislation moves ahead, SC Student Loan looks forward to working with Congress and the Administration to ensure that students continue to have access to quality loan-servicing and proven access and success programs that enable them to achieve their dreams of a post-secondary education.

For more information on South Carolina Student Loan, visit www.scstudentloan.org or call 1-800-347-2752.

SC Student Loan is a nonprofit organization established by the state to make education loans to South Carolina residents and students attending South Carolina institutions.  

Since its inception in 1973, SC Student Loan has made loans to over 445,000 people, totaling $7.6 billion, while maintaining one of the lowest default rates in the nation.

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