For the 2022 – 2023 school year, average in-state tuition in South Carolina ranged from $5,387 at two-year colleges to $12,280 at public universities. Out-of-state tuition was roughly double these amounts.
Ideally, you’ll use scholarships and grants to cover school costs. When those free forms of financial aid aren’t enough, student loans can help make higher education attainable. We’ve reviewed the best student loans for South Carolina scholars. Keep reading for our top picks.
| Company | Best for | LendEDU Rating |
| U.S. Dept. of Education | Federal student loans | Not rated |
| College Ave | Private student loans | 5/5 |
| Sallie Mae | Cosigners | 4.8/5 |
| Earnest | No fees | 4.7/5 |
| Ascent | Deferred payments | 4.3/5 |
Federal student loans in South Carolina
The U.S. Department of Education is the best place to begin when looking for student loans. Federal student loans offer several advantages to borrowers, including:
- Fixed rates: Your federal loan rates won’t change, allowing for payment predictability and budget stability.
- Flexible repayment: Borrowers can choose from several repayment plans, including income-driven repayment options designed to fit your personal financial circumstances.
- Loan forgiveness: Eligible borrowers working in certain professions who enroll in an income-driven repayment plan may get some or all of their federal student debt forgiven.
You must complete the Free Application for Federal Student Aid (FAFSA) to apply for federal student loans. You can fill out the FAFSA online for free.
Whether you apply as an independent or dependent student will determine if you need to provide financial information for yourself alone or if you need to include your parents’ or spouse’s financial details as well.
Federal loan types
South Carolina students have several federal student loan options to choose from, including:
- Direct Subsidized Loans: These are need-based loans for undergraduate students. While you’re enrolled in school and during any deferment periods, the government pays the interest on your loans.
- Direct Unsubsidized Loans: These loans are available to both undergraduate and graduate students, regardless of financial need. However, the government does not pay the interest on unsubsidized loans.
- PLUS Loans: Parents of undergraduate students can take out PLUS Loans in their name. Graduate students can also use them to pay for school. While there isn’t a specific credit requirement, you must not have an adverse credit history.
The government limits how much funding you can take out in federal student loans. The table below shows what you can borrow each academic year, depending on your year of enrollment and dependency status:
| Enrollment year | Dependent students | Independent students |
| Freshmen | $5,500 | $9,500 |
| Sophomores | $6,500 | $10,500 |
| Juniors and beyond | $7,500 | $12,500 |
| Graduate and professional students | N/A | $20,500 |
In addition to these annual limits, federal borrowers are also subject to these aggregate limits:
- Dependent undergraduates: $31,000
- Independent undergraduates: $57,500
- Graduate and professional students: $138,500, including federal loans taken out for undergraduate study
Subsidized Loans can only make up $23,000 of the $31,000 lifetime maximum for undergraduate students. The Subsidized Loan threshold rises to $65,500 for graduate students.
Private student loans in South Carolina
If you’ve exhausted your federal aid options or don’t qualify for state-based programs, you might consider private student loans. Based on our research, these four online lenders are among the best for private student loans in South Carolina.
| Company | Best for… | Rating (0-5) |
|---|---|---|
Terms & Disclosures
Information advertised valid as of 05/04/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s). All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC |
Best overall |
Terms & Disclosures
Information advertised valid as of 05/04/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s). All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC |
Terms & Disclosures
Borrow responsibly Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000. 1. Loan application must be submitted to see available rates. 2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. 3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024. 4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. 5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. 6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered. 7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not. Information advertised valid as of 05/26/2026. ALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION. Sallie Mae loans are made by Sallie Mae Bank. |
Best for cosigners |
Terms & Disclosures
Borrow responsibly Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000. 1. Loan application must be submitted to see available rates. 2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. 3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024. 4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. 5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. 6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered. 7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not. Information advertised valid as of 05/26/2026. ALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION. Sallie Mae loans are made by Sallie Mae Bank. |
Terms & Disclosures
In-School Loans Disclosures
Earnest Private Student Loans are subject to credit approval. Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
Auto Pay Discount
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
Cosigner Release
To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
Grace Period
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Loan Cost Examples
Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples:
1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate (“”APR””): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10.
2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months.
3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
Loan Minimum
Residents of Hawaii must request a loan of at least $1,501.
Repayment Terms and Options
Repayment terms and repayment options available vary based on loan type.
Skip a Payment
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
No Fees
Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
Interest Rates Disclosure: |
Best for large loans |
Terms & Disclosures
In-School Loans Disclosures
Earnest Private Student Loans are subject to credit approval. Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
Auto Pay Discount
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
Cosigner Release
To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
Grace Period
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Loan Cost Examples
Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples:
1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate (“”APR””): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10.
2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months.
3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
Loan Minimum
Residents of Hawaii must request a loan of at least $1,501.
Repayment Terms and Options
Repayment terms and repayment options available vary based on loan type.
Skip a Payment
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
No Fees
Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
Interest Rates Disclosure: |
Terms & Disclosures
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent‘s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 06/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/ |
Best for deferred payment |
Terms & Disclosures
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent‘s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 06/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/ |
College Ave
Why we picked it
College Ave offers both private student loans and student loan refinancing. With College Ave’s student loans, you can borrow as little as $1,000 or up to 100% of your school-certified cost of attendance (COA), less any other financial aid received.
You can apply for a College Ave loan with or without a cosigner. If approved, you can take advantage of flexible repayment options with terms lasting five to 15 years, as well as cosigner release after 24 on-time payments.
- Student loans for undergraduates, graduates, parents, and career training
- You choose your repayment plan and term
- Application can be completed in as little as 3 minutes
Loan details
| Fixed Rates (APR) | 4.39% – 16.85% |
| Variable Rates (APR) | 4.13% – 17.99% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 8, 10, or 15 Years |
Sallie Mae
Why we picked it
As far as lenders go, Sallie Mae is a one-stop-shop. Alongside its student loans, this lender provides college planning resources and savings accounts. You can apply online and get a credit decision in about 10 minutes, so you’ll know right away if you’re approved.
Cosigners aren’t required, but they are recommended for students with limited credit history. With Sallie Mae’s Multi-Year Advantage, returning undergraduate students with a cosigner have a 95% approval rate for future loans.
- Student loans for undergraduates, graduates, and career training
- Repayment options include deferred, fixed, and interest-only
- Cosigners can be released after 12 consecutive on-time monthly payments
Loan details
| Fixed Rates (APR) | 4.50% – 16.70% |
| Variable Rates (APR) | 4.13% – 17.99% |
| Loan amounts | $1,000 – 100% of costs |
| Repayment terms | 10 – 15 years |
Earnest
Why we picked it
Earnest offers private student loans of $1,000 to the full cost of attendance with no additional fees—including late payment, loan origination, and application fees—which helps lower the overall cost of borrowing. They also provide flexible repayment terms; you can choose to repay your loan over 5, 7, 10, 12, or 15 years.
You don’t need a cosigner to borrow from Earnest, but having one will greatly increase your odds of getting a loan. In fact, Earnest reports that borrowers with a cosigner are five times more likely to be approved than those without one.
- Available in all 50 states except Nevada
- 9-month repayment grace period after graduation
- Cosigner release not permitted
Loan details
| Fixed Rates (APR) | 4.13% – 17.99% |
| Variable Rates (APR) | 4.13% – 17.99% |
| Loan amounts | $1,000 – 100% of costs |
| Repayment terms | 5, 7, 10, 12, or 15 years |
Ascent
Why we picked it
Ascent serves a variety of borrowers, from U.S. citizens and residents to international students and Deferred Action for Child Arrivals (DACA) recipients. In addition to its traditional private student loans, Ascent funds consumer loans for eligible tech bootcamps as well.
Ascent loans are cosigner optional, provided you have at least two years of credit history and a gross annual income of $24,000. Juniors and seniors can also apply without a cosigner if they meet GPA and outcome-based requirements.
- Student loans for undergraduates, graduates, and career training
- Earn 1% cash back upon proof of graduation
- Prequalify without affecting your credit
Loan details
| Fixed Rates (APR) | 2.89% – 14.41% |
| Variable Rates (APR) | 4.34% – 14.75% |
| Loan amounts | $2,001 – $200,000 |
| Repayment terms | 5, 7, 10, 12, or 15 years |
State-specific student loans in South Carolina
If your tuition costs exceed your federal loan limit, you may qualify for state student loans. The South Carolina Student Loan Corporation (SCSL) offers various loan programs to help students reach their educational goals. Below is a summary of state-specific student loans available in South Carolina.
| Loan Program | Eligibility | Additional Info |
| Palmetto Assistance Loans (PAL) | Students studying in SC and SC residents studying elsewhere enrolled at least half-time | No origination/application fees; cosigner optional; loans from $2,500 to $150,000; multiple repayment options |
| SC Teacher Loans | Education majors pursuing initial certification or new field certification | Forgiveness: 20% or $3,000 annually, up to 33 ⅓% or $5,000 for critical areas |
| SC Career Changers Loans | Bachelor’s-degree holders with three years of full-time, non-education work experience | Assistance for transitioning into teaching careers |
| SC PACE Loans | Current teachers participating in the South Carolina Program of Alternative Certification in Education (PACE) | Reimbursement for PACE participation cost |
| BOLD™ Career Pathways Initiative | Students within two years of graduation pursuing healthcare, teaching, finance, or IT degrees | Employer-matched loan reimbursement after graduation |
What to know about student loans in South Carolina
During the 2021 – 2022 school year, South Carolina spent more in state grant funding and averaged more grant funding per student than any other state.
Still, according to an Education Data Initiative analysis, the Palmetto State ranks seventh-highest for student loan debt. Student loan borrowers in South Carolina carry an average loan balance of $37,551, and 61% of South Carolinians with student loan debt owe more than $40,000.
Since the average median entry-level salary for South Carolina grads is $34,823, we highly recommend being proactive when repaying your loans. Here are a few ideas to get you started:
- Pay toward your loans while you’re in school, even if no payments are due.
- Divide your monthly payments into weekly or biweekly installments.
- If you have federal student loans, work with your servicer to set up an income-driven repayment plan.
- Claim the federal student loan interest that you pay as a tax deduction (up to a specific amount each year—then use any tax refunds you receive to shave down your loan balance.
You don’t need to itemize to deduct your loan interest, either. You can combine it with several others to create a debt payoff plan that fits your goals and budget.
Be willing to revise your repayment blueprint over time, too. Adjusting as you go will help you stay on track and manage your debt.
Going into college, if you know the field you want to enter, you can take advantage of benefits like employers paying for college directly and the geographical qualifying areas for teachers. If you don’t know yet, planning to repay student loans can be a little more challenging.
Erin Kinkade, CFP®
I first recommend only borrowing what’s needed, paying while in school if you can, and begin repaying as soon as you graduate and seek employment. In all cases, build the pay-off into a planned budget and keep in contact with the lender to discuss payment options that fit your financial condition.
Choose the right South Carolina student loan for you
The postsecondary price tag differs from student to student. Which school you choose, whether you live on or off campus, and even your level or field of study can all influence how much you pay.
Taking these steps can help you gauge your COA, evaluate lenders, and ultimately, determine which lender is the best fit for your situation:
- Complete the FAFSA: To secure federal or school-based aid, fill out the FAFSA as soon as possible. The sooner you submit your FAFSA, the sooner you’ll know if you need student loans.
- Estimate your costs: Research tuition, room and board, and other costs at colleges you’re considering. Weigh these costs against your financial aid award packages to calculate how much you need to borrow.
- Make a shortlist of lenders: Jot down which state loans and private lenders might be good fits. Note each one’s loan amounts, rates, fees, and terms.
- Recruit a cosigner: Enlisting the help of a cosigner can make it easier to get approved. The stronger their credit score is, the more likely you will qualify for favorable rates.
- Prequalify with as many lenders as possible: Prequalifying doesn’t impact your credit, but it will tell you what personalized rates you can expect with each lender.
- Compare your loan options: With your prequalified rates, sort your potential lenders from most to least affordable. If any lenders are close competitors, check out their perks and benefits, like whether they offer grace periods or cosigner release.
Don’t rush the process. Approaching your student loans with strategy and forethought helps ensure that you don’t just land any loan—you land the right loan for you.
FAQ
What is the cost of college in South Carolina?
For the 2022 – 2023 school year, average in-state tuition in South Carolina ranged from $5,387 at two-year colleges to $12,280 at public universities. Out-of-state tuition was roughly double these amounts.
How should I choose between federal loans, South Carolina state loans, and private student loans?
When searching for ways to fund your education, you should first take advantage of all federal loans that are available to you since they typically offer lower interest rates, more flexible repayment options, and loan forgiveness programs.
Once you’ve exhausted all federal loan options, compare terms on South Carolina state loans and private student loans. While state loans offer benefits like loan forgiveness for certain professions, you may get a lower interest rate with a private lender. Evaluate both options to determine which one is right for you.
What is the South Carolina Student Loan (SCSL) program?
The South Carolina Student Loan program is a not-for-profit loan provider based in Columbia, South Carolina. Its mission is to provide South Carolina students with competitive loan options to make education more accessible.
How do I apply for a South Carolina student loan?
You can apply for a South Carolina student loan through the SCSL website. The first step is to check your eligibility by providing information about your state of residence, school name and location, citizenship status, enrollment, and cosigner.
If you’re deemed eligible, you’ll create an account on the next page to begin the application. You must provide a variety of personal, academic, and financial information (social security numbers, annual income, etc.) so try to gather that in advance. However, you can save the application and complete it later if necessary.
Can South Carolina residents refinance their student loans?
Yes, South Carolina residents can refinance their student loans; there are several options available.
The South Carolina Student Loan program allows residents to refinance any federal or private student loan (except Perkins loans, loans used for the Bar Exam, or medical residency loans) with competitive rates. You can also refinance student loans through traditional banks and online lenders.
Recap of South Carolina student loans
| Company | Best for | LendEDU Rating |
| College Ave | Private student loans | 5/5 |
| Sallie Mae | Cosigners | 4.8/5 |
| Earnest | No fees | 4.7/5 |
| Ascent | Deferred payments | 4.3/5 |
About our contributors
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Written by Christi GorbettChristi Gorbett is a finance writer with a master’s degree in English and years of experience. She specializes in creating financial content that simplifies complex topics, making them easier for a wide audience to understand.
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Edited by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.
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Reviewed by Erin Kinkade, CFP®Erin Kinkade, CFP®, ChFC®, works as a financial planner at AAFMAA Wealth Management & Trust. Erin prepares comprehensive financial plans for military veterans and their families.