BOLD™ Nursing Faculty Program - Current Faculty Refinancing

BOLD™ Nursing Faculty Program - Current Faculty Refinancing

Overview: A loan refinancing program offering up to $90,000 in tuition reimbursement for current nursing faculty in South Carolina. This is a limited-time debt relief opportunity offered by the state of South Carolina.

Geographic Scope: South Carolina only

Focus Areas: Nursing education and faculty development

Eligibility Requirements:

U.S. citizen or permanent resident

In grace period or post-enrollment repayment status (not in default on eligible education loans)

Only graduate-level loans are eligible for refinancing

Must be the named borrower on loans being refinanced (not cosigner)

Not in default on eligible education loans or any federal payment obligation

Committed to working at least part-time (more than 500 hours annually) as a nursing faculty member with a Qualifying Employer

Not incarcerated

Qualifying Employer: A participating South Carolina public 2-year or 4-year college or university offering a nursing educator faculty position

Loan Details:

Minimum loan amount: $5,000

Maximum loan amount: $90,000

Interest rate: Fixed rate disclosed in Approval Disclosure

Repayment period: Not to exceed 10 years

Loan Forgiveness Conditions:

State will verify employment in eligible nursing faculty position

For every two years of service, the State will forgive up to $30,000

Six years of service required to qualify for maximum forgiveness of $90,000

Service requirement: Minimum 500 hours per year if part-time

Deferment available (up to 12-month increments) while employed by Qualifying Employer during which no principal or interest payments are due

What They Don't Fund: Direct-to-consumer loans (e.g., Bar Study, Residency and Relocation loans); PLUS Parent borrower loans

Important Notes:

Borrower remains responsible for any loan amount not paid by the State

Tax obligations may apply from loan forgiveness payments

Annual employment verification required

Breach of conditions results in repayment obligation over 10 years

Contact Information:
South Carolina Student Loan
1901 Main Street, Suite 400
Columbia, SC 29201
(800) 347-2752