Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
Sponsors: Rep. Townsend
Document Path: l:\council\bills\bbm\9561sl03.doc
Introduced in the House on March 18, 2003
Introduced in the Senate on April 15, 2003
Currently residing in the Senate Committee on Education
Summary: Higher education and student loans; technical change
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/18/2003 House Introduced and read first time HJ-10 3/18/2003 House Referred to Committee on Education and Public Works HJ-10 4/9/2003 House Committee report: Favorable Education and Public Works HJ-12 4/10/2003 House Read second time HJ-19 4/10/2003 House Unanimous consent for third reading on next legislative day HJ-20 4/11/2003 House Read third time and sent to Senate HJ-4 4/15/2003 Senate Introduced and read first time SJ-51 4/15/2003 Senate Referred to Committee on Education SJ-51
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
Indicates Matter Stricken
Indicates New Matter
April 9, 2003
S. Printed 4/9/03--H.
Read the first time March 18, 2003.
To whom was referred a Bill (H. 3805) to amend Section 59-26-20, as amended, Code of Laws of South Carolina, 1976, relating to duties of the State Board of Education and Commission on Higher Education, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
RONALD P. TOWNSEND for Committee.
TO AMEND SECTION 59-26-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DUTIES OF THE STATE BOARD OF EDUCATION AND COMMISSION ON HIGHER EDUCATION, SO AS TO DELETE A SENTENCE PROVIDING THAT THE DEFINITIONS USED IN THE FEDERAL PERKINS LOAN PROGRAM SERVE AS THE BASIS FOR DEFINING "CRITICAL GEOGRAPHIC AREA", AND TO MAKE OTHER NONSUBSTANTIVE CHANGES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 59-26-20(j) of the 1976 Code, as last amended by Act 393 of 2000, is further amended to read:
"(j) the Commission on Higher Education, in consultation with the State Department of Education and the staff of the South Carolina Student Loan Corporation, shall develop a loan program whereby talented and qualified state residents may be provided loans to attend public or private colleges and universities for the sole purpose and intent of becoming certified teachers employed in the State in areas of critical need. Areas of critical need shall include both geographic areas and areas of teacher certification and must be defined annually for that purpose by the State Board of Education.
The definitions used in the federal Perkins Loan Program shall serve as the basis for defining "critical geographical areas". The recipient of a loan is entitled to have up to one hundred percent of the amount of the loan plus the interest canceled if he becomes certified and teaches in an area of critical need. Should the area of critical need that the loan recipient is teaching in be reclassified during the time of cancellation, the cancellation shall continue as though the critical need area had not changed. Additionally, beginning with the 2000-2001 school year, a teacher with a teacher loan through the South Carolina Student Loan Corporation shall qualify, if the teacher is teaching in an area newly designated as a critical needs area (geographic or subject, or both). Previous loan payments shall must not be reimbursed. The Department of Education and the local school district shall be are responsible for annual distribution of the critical needs list. It shall be is the responsibility of the teacher to request loan cancellation through service in a critical needs area to the Student Loan Corporation by November 1.
Beginning July 1, 2000, the loan must be canceled at the rate of twenty percent or three thousand dollars, whichever is greater, of the total principal amount of the loan plus interest on the unpaid balance for each complete year of teaching service in either an academic critical need area or in a geographic need area. The loan must be canceled at the rate of thirty-three and one-third percent, or five thousand dollars, whichever is greater, of the total principal amount of the loan plus interest on the unpaid balance for each complete year of teaching service in both an academic critical need area and a geographic need area. Beginning July 1, 2000,
all loan recipients teaching in the public schools of South Carolina but not in an academic or geographic critical need area are to must be charged an interest rate below that charged to loan recipients who do not teach in South Carolina.
Additional loans to assist with college and living expenses
shall must be made available for talented and qualified state residents attending public or private colleges and universities in this State for the sole purpose and intent of changing careers in order to become certified teachers employed in the State in areas of critical need. These loan funds also may be used for the cost of participation in the critical needs certification program pursuant to Section 59-26-30(A)(8). Such loans must be cancelled under the same conditions and at the same rates as other critical need loans.
In case of failure to make a scheduled repayment of any installment, failure to apply for cancellation of deferment of the loan on time, or noncompliance by a borrower with the intent of the loan, the entire unpaid indebtedness including accrued interest, at the option of the commission,
shall must become immediately due and payable. The recipient shall execute the necessary legal documents to reflect his obligation and the terms and conditions of the loan. The loan program, if implemented, pursuant to the South Carolina Education Improvement Act, is to must be administered by the South Carolina Student Loan Corporation. Funds generated from repayments to the loan program must be retained in a separate account and utilized as a revolving account for the purpose that the funds were originally appropriated. Appropriations for loans and administrative costs incurred by the corporation are to must be provided in annual amounts, recommended by the Commission on Higher Education, to the State Treasurer for use by the corporation. The Education Oversight Committee shall review the loan program annually and report to the General Assembly;"
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Monday, December 7, 2009 at 10:31 A.M.