S.C. Student Loan Corp. secures funding
By The Associated Press Tuesday, June 24, 2008GREENVILLE, S.C. - South Carolina’s largest student lender for college says it has enough money for the coming year.
President Chuck Sanders of the South Carolina Student Loan Corporation will close on a $600 million corporate bond issue Wednesday. Sanders says that will meet the state’s college student needs for the coming year.
The Greenville News reported the non-profit lender had about 60 percent of the money it needed earlier this year and had to search for money to lend for the first time in its 35-year history.
The corporation provided $492 million to 110,000 South Carolinians and students at South Carolina schools this year.
Sanders says the corporation will continue to pay origination and other upfront fees on federal student loans for student and parent borrowers.
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