Higher education is a burden – and one of the most common worries – for many families, as the cost has increased in recent years. As financial advisors in South Carolina, we at Global View want to share some of the many educational resources that the state of South Carolina offers to families.
If you have a student who is looking to attend an eligible, in-state institution and is a South Carolina resident, he or she is eligible to receive state scholarships.
To be eligible for the state scholarships, it’s important to start taking your education seriously when you begin high school. During your high school career, there are a set of required courses you must complete to be eligible for high school graduation and public, in-state colleges upon graduation. You must also complete the SAT or ACT prior to graduating high school.
Below, I’ve highlighted 5 scholarships offered in South Carolina as well as their eligibility requirements and next steps. (For a breakdown of 5 other forms of educational assistance for South Carolina residents, click here.)
The South Carolina HOPE Scholarship has been around since 2001 and is a merit-based award. The HOPE Scholarship is an entry-level scholarship for students entering into a four-year eligible school. The student is eligible for up to $2,800 (including a book allowance) their first academic year.
The Legislative Incentives for Future Excellence (LIFE) Program was created in 1998 to encourage students to graduate from college on time and be better prepared for the workforce. The LIFE Program is designed to increase higher education and South Carolina employability. A full-time student is eligible for up to $5,000 (including a $300 book allowance) each academic year (eight terms) toward the cost at an eligible four-year institution in state. For students wishing to attend a technical or two-year school, they may receive up to tuition and $300 for books at approved in-state schools.
*Only the math and evidence-based reading and writing scores of the SAT may be included.
The Fellows scholarship is the state’s oldest scholarship, dating back to 1988. The scholarship was developed to retain academic talent within the state of South Carolina. A full-time student is eligible for up to $6,700 their first academic year and increases to $7,500 the remaining years (eight terms total) toward the cost at an eligible four-year institution in state. The Palmetto Fellow does require an application unlike the other state scholarships. The application is due by April 15 in the year of graduation.
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The Lottery Tuition Assistance Program (LTAP) began in 2001. The scholarship was created to help provide assistance to residents attending a two-year school in the state. The award amount varies per year depending on the number of eligible students and funding available.
The need-based grant was created in 1996 to provide assistance to the neediest students in South Carolina. Students must attend a public institution to receive up to $2,500 per year if enrolled full-time and $1,250 if a part-time student.
For more information on the scholarships listed above, click here.
The state of South Carolina is working to support its residents and keep talent local. Not every state offers scholarships to students pursuing higher education and we must recognize this generous opportunity. Continue to strive, our academicians, to exceed to the next level and take advantage of these in-state scholarships.
If you could make attending college a worry free process for you and your children, why wouldn’t you want to? It doesn’t have to be one of the most common worries any longer!
If you are a South Carolina resident and your child wishes to pursue his or her education out-of-state, or if you live outside of South Carolina, click here to read about other ways to fund their education. Or contact one of the Global View financial advisors in South Carolina for help getting started.