Life-Changing Tuition Support

For practicing nurses, nursing students nearing graduation, and others with a nursing degree, you're in an ideal position to take advantage of the BOLD™ Career Pathways Nursing Faculty Loan Program.

• Get up to $30,000 per academic year in tuition reimbursement—as much as $90,000  
• Pursue grad-level nursing programs at a participating school
• Serve in a nursing faculty role for a minimum of two years 

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Loan Eligibility Requirements

The following criteria are required of all applicants regardless of whether you received the loan in the past. All criteria must be met to be considered eligible for the loan. All applicants must be: 

• A citizen of the United States;
• A student. Parent borrowers are not allowed to borrow on behalf of the child;
• Enrolled on at least a half-time basis in a regionally accredited, not-for-profit, South Carolina-based, public and private institutions offering graduate-level Master of Science (MSN) programs, Doctor of Nursing Practice, PH.D., or other like programs that prepare individuals for faculty roles.
• Making satisfactory academic progress as determined by the institution;
• Not in default on any other student loan obligation;
• Committed to full-time or part-time (1,000 hours annually) faculty employment with a Qualifying Employer; and
• Not incarcerated.

Loan Details & Definitions

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

Enrolled Period: The period beginning on the day the student receives the first disbursement and ending on the date the student graduates or ceases at least half-time enrollment at an eligible school.

Grace Period: A 180-day period beginning on the day after the date the student is no longer enrolled at least half-time.

Repayment Period: The period beginning on the day after the Grace Period during which you are required to make full payments of principal and interest.

Deferment Period: A period during which no payments of principal and interest will be due while employed by a Qualifying Employer. Deferments are applied in 12-month increments and subject to approval by SCSLC. Interest Rate: Interest on the BOLD™ Career Pathway Loan accrues at a fixed rate of 7.00% disclosed in your Approval Disclosure. See the Promissory Note for additional interest rate information.

Loan Amounts: The minimum loan amount is $2,000. A student may borrow up to $30,000 per academic year for a maximum of 3 years ($90,000 aggregate maximum loan amount). Loans may not exceed the cost of attendance, minus any other financial aid per academic year as determined by the school's financial aid office.

Loan Reimbursement by the State of South Carolina Criteria: For each year of loan assistance received, the loan recipient is required to work as a nursing faculty member in a South Carolina public institution of higher education for two (2) years up to a maximum of six (6) years. During the grace period, SCSLC will contact the borrower to confirm employment in an eligible nursing faculty position with a Qualifying Employer. Once employment is confirmed, a 12-month deferment is added to the eligible loan(s). Interest will continue to accrue.

After each qualifying year of employment, SCSLC will confirm employment with the Qualifying Employer's Human Resource department. After two years of qualifying employment, an amount/percentage of the total loan amount to be reimbursed will be applied to the borrowers loan.

Amounts reimbursed on the borrower's behalf will include both principal and interest amounts. The borrower remains responsible for any amount not eligible for reimbursement by the State of South Carolina.

These loans may not exceed the cost of attendance as determined by the college’s Financial Aid Office.

Program Reimbursement Conditions and Student’s Obligations: 

• The Student may be entitled to have up to one hundred percent (100%) of the amount of the original loan balance plus accrued interest set forth in the Promise to Pay Section of the Agreement reimbursed by the State in return for qualified nursing faculty service.
• For every two years of service, the State will reimburse a portion of the loan amount received for each academic year under this program (up to $30,000), plus unpaid accrued interest, not to exceed program aggregate maximums.
• Reimbursements are subject to you meeting all requirements as set forth in the Agreement.
• Reimbursements made by the State under the Agreement do not exempt you from your responsibility and/or liability for any Loan(s) for which you are obligated. You are still responsible for the entire Loan balance(s), including any amount not reimbursed by the State, and any unpaid interest and late fees.
• While you may be eligible for tax benefits, you may also be responsible for any tax obligations resulting from any loan reimbursement made pursuant to the Agreement. You should consult with a tax professional to ensure that you understand any tax obligations that may result from any payments made by the State under the Agreement.
• Loan reimbursement by the State will be made on your behalf directly to the SCSLC, or its designated loan servicer.
• At the conclusion of one year of employment, and annually thereafter as applicable, the SCSLC will confirm your continued employment with your Employer as a Nursing Faculty Member at a SC public two- or four-year college or university. Upon receipt of two years of confirmation, SCSLC will request reimbursement from the State as determined in the Agreement.